Academy Sports and Outdoors (NASDAQ:ASO) Trading Down 16.7% - Here's What Happened

Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Get Free Report)'s share price was down 16.7% during trading on Thursday . The company traded as low as $40.35 and last traded at $39.68. Approximately 395,724 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 1,562,923 shares. The stock had previously closed at $47.63.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Jefferies Financial Group set a $60.00 price target on Academy Sports and Outdoors in a report on Thursday, March 20th. 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 for the company in a research note on Friday, March 21st. Oppenheimer dropped their price objective on shares of Academy Sports and Outdoors from $85.00 to $70.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Robert W. Baird decreased their target price 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, March 21st. Finally, Citigroup dropped 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 research report on Monday, March 17th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Academy Sports and Outdoors has an average rating of "Moderate Buy" and a consensus target price of $58.63.

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Academy Sports and Outdoors Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 1.57. The company's 50 day moving average price is $49.10 and its 200-day moving average price is $52.20. The company has a market cap of $2.28 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 1.02 and a beta of 1.26.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. Academy Sports and Outdoors's revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.21 EPS. Equities research analysts anticipate that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, March 25th will be given a $0.13 dividend. This is a positive change from Academy Sports and Outdoors's previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Tuesday, March 25th. Academy Sports and Outdoors's dividend payout ratio (DPR) is 9.01%.

Institutional Trading of Academy Sports and Outdoors

Hedge funds and other institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC increased its holdings in shares of Academy Sports and Outdoors by 6.2% in the third quarter. HighTower Advisors LLC now owns 5,553 shares of the company's stock worth $324,000 after purchasing an additional 323 shares during the period. XTX Topco Ltd bought a new position in Academy Sports and Outdoors in the 3rd quarter worth about $1,221,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Academy Sports and Outdoors in the 3rd quarter valued at about $323,000. Vestcor Inc boosted its position in shares of Academy Sports and Outdoors by 184.3% during the 3rd quarter. Vestcor Inc now owns 16,197 shares of the company's stock valued at $945,000 after acquiring an additional 10,500 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings 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 worth $118,092,000 after purchasing an additional 50,715 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.