Academy Sports and Outdoors (NASDAQ:ASO) Shares Down 7.5% – Time to Sell?

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) shares dropped 7.5% during trading on Tuesday . The company traded as low as $46.87 and last traded at $46.76. Approximately 808,278 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 1,490,997 shares. The stock had previously closed at $50.56.

Analysts Set New Price Targets

ASO has been the subject of a number of analyst reports. Telsey Advisory Group reduced their price objective on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Wedbush restated an “outperform” rating and set a $65.00 price target on shares of Academy Sports and Outdoors in a report on Wednesday, December 11th. Truist Financial upped their price target on shares of Academy Sports and Outdoors from $50.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. TD Cowen raised their price objective on shares of Academy Sports and Outdoors from $54.00 to $61.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. Finally, Robert W. Baird decreased their target price on shares of Academy Sports and Outdoors from $68.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $61.67.

Academy Sports and Outdoors Trading Down 7.5 %

The company has a current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $3.25 billion, a PE ratio of 7.68, a P/E/G ratio of 1.02 and a beta of 1.25. The stock has a 50 day moving average price of $53.13 and a 200-day moving average price of $53.70.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.30). Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the business earned $1.38 EPS. The company’s revenue was down 3.9% compared to the same quarter last year. Sell-side analysts expect that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current year.

Academy Sports and Outdoors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, March 25th will be given a dividend of $0.13 per share. This is a boost from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Tuesday, March 25th. Academy Sports and Outdoors’s payout ratio is presently 7.22%.

Institutional Trading of Academy Sports and Outdoors

Hedge funds and other institutional investors have recently modified their holdings of the company. Simmons Bank grew its position in shares of Academy Sports and Outdoors by 1.9% during the third quarter. Simmons Bank now owns 10,860 shares of the company’s stock worth $634,000 after purchasing an additional 200 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in Academy Sports and Outdoors by 3.3% in the 4th quarter. Cullen Frost Bankers Inc. now owns 6,565 shares of the company’s stock worth $378,000 after purchasing an additional 210 shares during the period. Nichols & Pratt Advisers LLP MA grew its holdings in Academy Sports and Outdoors by 4.7% during the 4th quarter. Nichols & Pratt Advisers LLP MA now owns 5,600 shares of the company’s stock valued at $322,000 after buying an additional 250 shares in the last quarter. Xponance Inc. raised its position in shares of Academy Sports and Outdoors by 5.7% during the fourth quarter. Xponance Inc. now owns 4,916 shares of the company’s stock valued at $283,000 after buying an additional 266 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Academy Sports and Outdoors by 6.2% in the third quarter. HighTower Advisors LLC now owns 5,553 shares of the company’s stock worth $324,000 after buying an additional 323 shares in the last quarter.

About Academy Sports and Outdoors

Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational retailer in the United States. The company outdoor division comprises camping products, such as coolers and drinkware, and camping accessories and equipment,; fishing products, including marine equipment and fishing rods, reels, and baits and equipment; and hunting products, which includes firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, gun safes, optics, airguns, and hunting equipment.