Morgan Stanley Cuts Academy Sports and Outdoors (NASDAQ:ASO) Price Target to $55.00

Academy Sports and Outdoors (NASDAQ:ASO - Free Report) had its price objective cut by Morgan Stanley from $60.00 to $55.00 in a report released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts have also recently issued research reports about the company. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $60.00 price target on shares of Academy Sports and Outdoors in a report on Monday, March 17th. Wedbush reaffirmed an "outperform" rating and issued a $65.00 target price on shares of Academy Sports and Outdoors in a research report on Wednesday, December 11th. Citigroup lowered their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Monday, March 17th. TD Cowen raised their price objective on shares of Academy Sports and Outdoors from $54.00 to $61.00 and gave the stock a "hold" rating in a report on Wednesday, January 8th. Finally, Robert W. Baird lowered their target price on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.38.

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Academy Sports and Outdoors Stock Performance

NASDAQ ASO traded up $0.26 during trading on Friday, hitting $50.03. The company's stock had a trading volume of 2,066,554 shares, compared to its average volume of 1,539,299. Academy Sports and Outdoors has a 52 week low of $43.16 and a 52 week high of $68.96. The firm has a market cap of $3.47 billion, a P/E ratio of 8.22, a price-to-earnings-growth ratio of 1.02 and a beta of 1.25. The firm has a 50 day moving average price of $50.93 and a 200 day moving average price of $53.09. The company has a quick ratio of 0.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.82 by $0.14. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the firm earned $2.21 EPS. The business's revenue was down 6.6% on a year-over-year basis. Equities research analysts forecast that Academy Sports and Outdoors will post 5.59 earnings per share for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, March 25th will be issued a dividend of $0.13 per share. This is an increase from Academy Sports and Outdoors's previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, March 25th. This represents a $0.52 annualized dividend and a dividend yield of 1.04%. Academy Sports and Outdoors's payout ratio is presently 9.01%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ASO. Victory Capital Management Inc. increased its stake in shares of Academy Sports and Outdoors by 15.3% during the third quarter. Victory Capital Management Inc. now owns 51,988 shares of the company's stock worth $3,034,000 after purchasing an additional 6,894 shares during the period. KBC Group NV grew its holdings in Academy Sports and Outdoors by 24.3% in the 3rd quarter. KBC Group NV now owns 2,084 shares of the company's stock valued at $122,000 after buying an additional 408 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Academy Sports and Outdoors during the third quarter worth about $255,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Academy Sports and Outdoors during the third quarter worth approximately $1,538,000. Finally, Intech Investment Management LLC bought a new position in Academy Sports and Outdoors during the 3rd quarter worth $1,167,000.

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.