Truist Financial Downgrades Academy Sports and Outdoors (NASDAQ:ASO) to Hold

Truist Financial downgraded shares of Academy Sports and Outdoors (NASDAQ:ASO - Free Report) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, Marketbeat.com reports. Truist Financial currently has $50.00 target price on the stock, down from their previous target price of $63.00.

A number of other research firms also recently commented on ASO. Wells Fargo & Company raised their target price on shares of Academy Sports and Outdoors from $46.00 to $51.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 11th. Wedbush reissued an "outperform" rating and set a $65.00 target price on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Morgan Stanley reissued an "equal weight" rating and set a $60.00 target price on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. JPMorgan Chase & Co. downgraded shares of Academy Sports and Outdoors from an "overweight" rating to a "neutral" rating and cut their target price for the company from $76.00 to $53.00 in a research report on Monday, August 5th. Finally, TD Cowen raised their target price on shares of Academy Sports and Outdoors from $54.00 to $56.00 and gave the company a "hold" rating in a research report on Wednesday, September 11th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $61.57.

Academy Sports and Outdoors Trading Down 1.2 %

Shares of Academy Sports and Outdoors stock traded down $0.57 during trading on Tuesday, hitting $46.03. The stock had a trading volume of 2,426,418 shares, compared to its average volume of 1,430,635. The firm's fifty day simple moving average is $54.62 and its 200-day simple moving average is $54.13. The stock has a market cap of $3.24 billion, a PE ratio of 7.10, a PEG ratio of 0.92 and a beta of 1.37. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 0.41. Academy Sports and Outdoors has a 12 month low of $44.73 and a 12 month high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.07. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. Academy Sports and Outdoors had a net margin of 7.98% and a return on equity of 25.56%. The business's revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business earned $2.01 EPS. As a group, sell-side analysts expect that Academy Sports and Outdoors will post 6.02 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, September 19th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Thursday, September 19th. Academy Sports and Outdoors's dividend payout ratio (DPR) is presently 6.79%.

Insider Buying and Selling

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of Academy Sports and Outdoors stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total transaction of $74,400.00. Following the completion of the sale, the director now directly owns 8,906 shares in the company, valued at approximately $552,172. The trade was a 11.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.19% of the stock is owned by company insiders.

Institutional Trading of Academy Sports and Outdoors

Several institutional investors and hedge funds have recently bought and sold shares of ASO. UniSuper Management Pty Ltd acquired a new position in shares of Academy Sports and Outdoors in the 1st quarter valued at $1,021,000. Russell Investments Group Ltd. lifted its stake in shares of Academy Sports and Outdoors by 75.0% in the 1st quarter. Russell Investments Group Ltd. now owns 39,589 shares of the company's stock valued at $2,674,000 after purchasing an additional 16,970 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of Academy Sports and Outdoors by 6.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 162,406 shares of the company's stock valued at $8,648,000 after purchasing an additional 10,416 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Academy Sports and Outdoors by 17.6% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 808,250 shares of the company's stock valued at $43,040,000 after purchasing an additional 121,115 shares during the period. Finally, Boston Partners acquired a new position in shares of Academy Sports and Outdoors in the 1st quarter valued at $1,000,000.

Academy Sports and Outdoors Company Profile

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.