Academy Sports and Outdoors (NASDAQ:ASO) Stock Price Up 4.7% - Here's What Happened

Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Get Free Report)'s stock price rose 4.7% during mid-day trading on Wednesday . The stock traded as high as $58.63 and last traded at $58.50. Approximately 540,537 shares were traded during trading, a decline of 63% from the average daily volume of 1,471,347 shares. The stock had previously closed at $55.90.

Analyst Upgrades and Downgrades

ASO has been the subject of several recent research reports. Evercore ISI cut Academy Sports and Outdoors from an "outperform" rating to an "in-line" rating and reduced their price target for the company from $65.00 to $60.00 in a research report on Thursday, October 3rd. Morgan Stanley reaffirmed an "equal weight" rating and set a $60.00 target price on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. TD Cowen increased their price target on shares of Academy Sports and Outdoors from $54.00 to $56.00 and gave the stock a "hold" rating in a report on Wednesday, September 11th. Citigroup started coverage on shares of Academy Sports and Outdoors in a research note on Wednesday. They set a "buy" rating and a $65.00 price objective for the company. Finally, Jefferies Financial Group lowered their target price on shares of Academy Sports and Outdoors from $68.00 to $64.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $61.33.

Academy Sports and Outdoors Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.57. The stock has a 50-day moving average of $51.46 and a two-hundred day moving average of $53.43. The company has a market cap of $3.88 billion, a P/E ratio of 9.19, a P/E/G ratio of 1.06 and a beta of 1.31.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.30). The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.39 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 for the quarter was down 3.9% on a year-over-year basis. During the same period last year, the company posted $1.38 EPS. On average, research analysts anticipate that Academy Sports and Outdoors, Inc. will post 5.92 EPS for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, December 18th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Wednesday, December 18th. Academy Sports and Outdoors's dividend payout ratio (DPR) is presently 7.22%.

Institutional Trading of Academy Sports and Outdoors

A number of institutional investors have recently made changes to their positions in ASO. CWM LLC raised its holdings in Academy Sports and Outdoors by 4.6% during the 3rd quarter. CWM LLC now owns 4,480 shares of the company's stock valued at $261,000 after buying an additional 196 shares during the last quarter. Simmons Bank increased its position in shares of Academy Sports and Outdoors by 1.9% in the third quarter. Simmons Bank now owns 10,860 shares of the company's stock valued at $634,000 after acquiring an additional 200 shares during the period. Daymark Wealth Partners LLC raised its stake in shares of Academy Sports and Outdoors by 1.3% during the third quarter. Daymark Wealth Partners LLC now owns 15,403 shares of the company's stock valued at $899,000 after acquiring an additional 203 shares during the last quarter. Trust Investment Advisors boosted its holdings in shares of Academy Sports and Outdoors by 1.8% during the second quarter. Trust Investment Advisors now owns 15,030 shares of the company's stock worth $800,000 after purchasing an additional 266 shares during the period. Finally, Benjamin Edwards Inc. grew its stake in shares of Academy Sports and Outdoors by 10.7% in the second quarter. Benjamin Edwards Inc. now owns 3,011 shares of the company's stock worth $160,000 after purchasing an additional 290 shares during the last quarter.

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.