B. Riley Issues Pessimistic Forecast for Academy Sports and Outdoors (NASDAQ:ASO) Stock Price

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) had its target price reduced by investment analysts at B. Riley from $70.00 to $65.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. B. Riley's price target suggests a potential upside of 29.92% from the company's previous close.

A number of other equities analysts have also recently weighed in on the company. UBS Group decreased their price objective on Academy Sports and Outdoors from $58.00 to $55.00 and set a "neutral" rating on the stock in a report on Tuesday, March 18th. Morgan Stanley decreased their price target on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Friday. Wedbush reaffirmed an "outperform" rating and issued a $65.00 price objective on shares of Academy Sports and Outdoors in a research note on Wednesday, December 11th. Telsey Advisory Group reiterated an "outperform" rating and issued a $60.00 target price on shares of Academy Sports and Outdoors in a research report on Monday, March 17th. Finally, Robert W. Baird cut their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Academy Sports and Outdoors presently has an average rating of "Moderate Buy" and a consensus price target of $60.38.

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Academy Sports and Outdoors Price Performance

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

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter last year, the company posted $2.21 EPS. The business's quarterly revenue was down 6.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Academy Sports and Outdoors will post 5.59 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ASO. Geode Capital Management LLC increased its position in shares of Academy Sports and Outdoors by 2.6% during the third quarter. Geode Capital Management LLC now owns 2,023,192 shares of the company's stock valued at $118,092,000 after buying an additional 50,715 shares during the period. Citigroup Inc. grew its holdings in shares of Academy Sports and Outdoors by 66.4% during the 3rd quarter. Citigroup Inc. now owns 95,644 shares of the company's stock worth $5,582,000 after acquiring an additional 38,155 shares during the period. FMR LLC raised its position in shares of Academy Sports and Outdoors by 15.3% in the 3rd quarter. FMR LLC now owns 10,739,463 shares of the company's stock worth $626,755,000 after acquiring an additional 1,422,971 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Academy Sports and Outdoors by 14.6% in the 4th quarter. Bank of New York Mellon Corp now owns 712,226 shares of the company's stock valued at $40,974,000 after purchasing an additional 90,592 shares during the period. Finally, Qsemble Capital Management LP purchased a new position in shares of Academy Sports and Outdoors in the 3rd quarter valued at approximately $633,000.

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.