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Academy Sports and Outdoors (NASDAQ:ASO) Now Covered by Analysts at Monness Crespi & Hardt

Academy Sports and Outdoors logo with Consumer Discretionary background

Key Points

  • Monness Crespi & Hardt has initiated coverage on Academy Sports and Outdoors (NASDAQ:ASO) with a "buy" rating and a price target of $65.00, suggesting a potential upside of 31.93% from the previous stock close.
  • Academy Sports and Outdoors reported a Q2 earnings miss with an EPS of $0.76, below the consensus estimate of $0.89, along with a revenue of $1.35 billion which slightly fell short of expectations.
  • Institutional investors are actively adjusting their positions in Academy Sports and Outdoors, with multiple firms increasing their stakes during the recent quarter.
  • Five stocks we like better than Academy Sports and Outdoors.

Equities research analysts at Monness Crespi & Hardt initiated coverage on shares of Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) in a research report issued on Monday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $65.00 price target on the stock. Monness Crespi & Hardt's target price would suggest a potential upside of 31.93% from the stock's previous close.

A number of other brokerages also recently commented on ASO. Morgan Stanley reduced their target price on shares of Academy Sports and Outdoors from $55.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 11th. Bank of America reduced their target price on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 11th. Wells Fargo & Company lifted their price target on shares of Academy Sports and Outdoors from $38.00 to $43.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Loop Capital set a $65.00 price target on shares of Academy Sports and Outdoors in a research report on Monday, July 21st. Finally, Citigroup dropped their price target on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, June 4th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.53.

Get Our Latest Research Report on ASO

Academy Sports and Outdoors Price Performance

Shares of NASDAQ ASO opened at $49.27 on Monday. The firm has a 50-day simple moving average of $47.52 and a 200-day simple moving average of $46.43. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 0.92 and a beta of 1.30. The company has a quick ratio of 0.29, a current ratio of 1.52 and a debt-to-equity ratio of 0.25. Academy Sports and Outdoors has a 52 week low of $33.34 and a 52 week high of $64.61.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last issued its earnings results on Tuesday, June 10th. The company reported $0.76 EPS for the quarter, missing analysts' consensus estimates of $0.89 by ($0.13). Academy Sports and Outdoors had a return on equity of 19.62% and a net margin of 6.55%. The firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period last year, the firm earned $1.08 earnings per share. Academy Sports and Outdoors's revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts predict that Academy Sports and Outdoors will post 5.59 earnings per share for the current fiscal year.

Insider Activity at Academy Sports and Outdoors

In other news, Director Christopher Lee Turner sold 4,400 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $44.48, for a total value of $195,712.00. Following the completion of the transaction, the director owned 7,084 shares of the company's stock, valued at approximately $315,096.32. This trade represents a 38.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.62% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ASO. LPL Financial LLC lifted its stake in Academy Sports and Outdoors by 0.9% in the fourth quarter. LPL Financial LLC now owns 91,454 shares of the company's stock worth $5,261,000 after acquiring an additional 812 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Academy Sports and Outdoors by 19.1% during the 4th quarter. Franklin Resources Inc. now owns 114,111 shares of the company's stock worth $6,565,000 after buying an additional 18,289 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Academy Sports and Outdoors by 11.4% in the 4th quarter. Wells Fargo & Company MN now owns 216,686 shares of the company's stock valued at $12,466,000 after buying an additional 22,146 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Academy Sports and Outdoors by 6.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 231,321 shares of the company's stock worth $13,308,000 after acquiring an additional 13,677 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in Academy Sports and Outdoors by 44.0% in the fourth quarter. Federated Hermes Inc. now owns 55,593 shares of the company's stock valued at $3,198,000 after acquiring an additional 16,982 shares during the last quarter.

Academy Sports and Outdoors Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Academy Sports and Outdoors (NASDAQ:ASO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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