Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Short Interest Down 27.0% in February

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) was the recipient of a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 6,039,004 shares, a decline of 27.0% from the February 12th total of 8,270,902 shares. Currently, 9.4% of the company’s shares are sold short. Based on an average daily volume of 1,251,787 shares, the days-to-cover ratio is currently 4.8 days. Based on an average daily volume of 1,251,787 shares, the days-to-cover ratio is currently 4.8 days. Currently, 9.4% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ASO. Barclays boosted their price objective on shares of Academy Sports and Outdoors from $51.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Academy Sports and Outdoors in a research report on Monday, December 29th. Truist Financial set a $59.00 price target on Academy Sports and Outdoors in a report on Wednesday, January 14th. Bank of America increased their price objective on Academy Sports and Outdoors from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 10th. Finally, Jefferies Financial Group restated a “buy” rating and set a $65.00 price objective on shares of Academy Sports and Outdoors in a report on Friday, January 2nd. Ten investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, Academy Sports and Outdoors presently has an average rating of “Moderate Buy” and a consensus target price of $60.22.

Academy Sports and Outdoors Stock Up 1.5%

NASDAQ ASO traded up $0.84 during trading on Friday, reaching $56.34. 1,292,839 shares of the company’s stock traded hands, compared to its average volume of 1,326,852. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.71 and a quick ratio of 0.32. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 0.97 and a beta of 1.23. The company’s 50 day simple moving average is $57.98 and its two-hundred day simple moving average is $52.52. Academy Sports and Outdoors has a 12-month low of $33.34 and a 12-month high of $62.44.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.08. Academy Sports and Outdoors had a net margin of 6.27% and a return on equity of 18.24%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Academy Sports and Outdoors will post 5.59 EPS for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 20th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Academy Sports and Outdoors’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, March 20th. Academy Sports and Outdoors’s payout ratio is presently 9.51%.

Insider Activity

In other news, Director Brian T. Marley sold 3,500 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $55.01, for a total value of $192,535.00. Following the transaction, the director directly owned 39,107 shares in the company, valued at approximately $2,151,276.07. This represents a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.62% of the company’s stock.

Institutional Trading of Academy Sports and Outdoors

A number of institutional investors have recently modified their holdings of ASO. Royal Bank of Canada grew its position in shares of Academy Sports and Outdoors by 8.5% in the 1st quarter. Royal Bank of Canada now owns 59,775 shares of the company’s stock worth $2,726,000 after buying an additional 4,665 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Academy Sports and Outdoors by 3.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,472 shares of the company’s stock valued at $1,846,000 after acquiring an additional 1,257 shares during the last quarter. United Services Automobile Association acquired a new stake in Academy Sports and Outdoors in the first quarter valued at approximately $223,000. Strs Ohio purchased a new position in Academy Sports and Outdoors in the first quarter worth $128,000. Finally, Los Angeles Capital Management LLC grew its holdings in Academy Sports and Outdoors by 8.0% in the second quarter. Los Angeles Capital Management LLC now owns 6,082 shares of the company’s stock worth $273,000 after purchasing an additional 450 shares during the last quarter.

Academy Sports and Outdoors Company Profile

Academy Sports and Outdoors is a leading specialty retailer of sporting goods and outdoor gear, operating more than 260 stores across the United States. Headquartered in Katy, Texas, the company offers a broad assortment of merchandise spanning athletic footwear and apparel, team sports equipment, camping and outdoor recreation products, hunting and fishing supplies, and fitness accessories. In addition to its brick-and-mortar footprint, Academy serves customers through its e-commerce platform, offering online ordering, in-store pickup, and home delivery options.

The company’s product portfolio includes seasonal and year-round categories designed to meet the needs of both casual enthusiasts and serious athletes.