Academy Sports and Outdoors (NASDAQ:ASO) Reaches New 52-Week Low – What’s Next?

Academy Sports and Outdoors, Inc. (NASDAQ:ASO)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $44.50 and last traded at $44.99, with a volume of 707730 shares traded. The stock had previously closed at $46.78.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ASO shares. Robert W. Baird cut their price objective on Academy Sports and Outdoors from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Truist Financial upped their price objective on Academy Sports and Outdoors from $50.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Telsey Advisory Group dropped their price objective on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Wedbush restated an “outperform” rating and set a $65.00 price objective on shares of Academy Sports and Outdoors in a report on Wednesday, December 11th. Finally, Citigroup began coverage on Academy Sports and Outdoors in a report on Wednesday, December 18th. They set a “buy” rating and a $65.00 price objective for the company. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Academy Sports and Outdoors presently has a consensus rating of “Hold” and a consensus price target of $61.67.

Academy Sports and Outdoors Trading Up 2.9 %

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 business’s 50-day simple moving average is $52.41 and its two-hundred day simple moving average is $53.52. The company has a market capitalization of $3.13 billion, a PE ratio of 7.41, a PEG ratio of 1.02 and a beta of 1.25.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.30). The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.38 earnings per share. On average, analysts predict that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current year.

Academy Sports and Outdoors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, March 25th will be given a $0.13 dividend. 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 yield of 1.15%. The ex-dividend date of this dividend is Tuesday, March 25th. Academy Sports and Outdoors’s dividend payout ratio is presently 7.22%.

Hedge Funds Weigh In On Academy Sports and Outdoors

Several large investors have recently modified their holdings of ASO. Farther Finance Advisors LLC lifted its position in shares of Academy Sports and Outdoors by 98.4% during the third quarter. Farther Finance Advisors LLC now owns 738 shares of the company’s stock worth $43,000 after purchasing an additional 366 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Academy Sports and Outdoors by 6.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 35,908 shares of the company’s stock worth $2,096,000 after acquiring an additional 2,189 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Academy Sports and Outdoors by 15.3% in the third quarter. Victory Capital Management Inc. now owns 51,988 shares of the company’s stock worth $3,034,000 after acquiring an additional 6,894 shares during the last quarter. Simmons Bank lifted its holdings in Academy Sports and Outdoors by 1.9% in the third quarter. Simmons Bank now owns 10,860 shares of the company’s stock worth $634,000 after acquiring an additional 200 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Academy Sports and Outdoors by 24.3% in the third quarter. KBC Group NV now owns 2,084 shares of the company’s stock worth $122,000 after acquiring an additional 408 shares during 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.