Academy Sports and Outdoors (NASDAQ:ASO) Given New $60.00 Price Target at Wedbush

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) had its price target cut by Wedbush from $65.00 to $60.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Wedbush's target price suggests a potential upside of 19.93% from the stock's previous close.

Other research analysts also recently issued reports about the company. Telsey Advisory Group restated an "outperform" rating and issued a $60.00 price target on shares of Academy Sports and Outdoors in a research note on Monday, March 17th. Morgan Stanley dropped their target price on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set an "equal weight" rating for the company in a research report on Friday. TD Cowen lifted their price target on shares of Academy Sports and Outdoors from $54.00 to $61.00 and gave the company a "hold" rating in a report on Wednesday, January 8th. UBS Group dropped their price objective on shares of Academy Sports and Outdoors from $58.00 to $55.00 and set a "neutral" rating for the company in a report on Tuesday, March 18th. Finally, Oppenheimer cut their price objective on Academy Sports and Outdoors from $85.00 to $70.00 and set an "outperform" rating for the company in a research report on Friday. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.38.

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Academy Sports and Outdoors Stock Performance

NASDAQ ASO traded up $0.26 on Friday, reaching $50.03. 2,066,554 shares of the stock were exchanged, compared to its average volume of 1,539,299. The firm has a market capitalization of $3.47 billion, a PE ratio of 8.22, a PEG ratio of 1.02 and a beta of 1.25. Academy Sports and Outdoors has a one year low of $43.16 and a one year high of $68.96. The company's 50-day simple moving average is $50.93 and its two-hundred day simple moving average is $53.09. The company has a current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its 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 company had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter in the previous year, the company earned $2.21 EPS. Academy Sports and Outdoors's revenue for the quarter was down 6.6% on a year-over-year basis. Analysts expect that Academy Sports and Outdoors will post 5.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Academy Sports and Outdoors

Several institutional investors have recently bought and sold shares of the business. FMR LLC boosted its position in Academy Sports and Outdoors by 15.3% during the 3rd quarter. FMR LLC now owns 10,739,463 shares of the company's stock valued at $626,755,000 after acquiring an additional 1,422,971 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Academy Sports and Outdoors by 12.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,699,015 shares of the company's stock worth $212,807,000 after purchasing an additional 404,863 shares during the last quarter. Pacer Advisors Inc. boosted its position in Academy Sports and Outdoors by 8.1% during the fourth quarter. Pacer Advisors Inc. now owns 2,649,276 shares of the company's stock valued at $152,413,000 after purchasing an additional 197,384 shares in the last quarter. Geode Capital Management LLC grew its stake in Academy Sports and Outdoors by 2.6% in the third quarter. Geode Capital Management LLC now owns 2,023,192 shares of the company's stock valued at $118,092,000 after purchasing an additional 50,715 shares during the last quarter. Finally, LSV Asset Management raised its holdings in Academy Sports and Outdoors by 14.2% in the fourth quarter. LSV Asset Management now owns 1,940,041 shares of the company's stock worth $111,611,000 after purchasing an additional 241,100 shares in the last quarter.

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.