Academy Sports and Outdoors (NASDAQ:ASO) Price Target Lowered to $52.00 at Morgan Stanley

Academy Sports and Outdoors (NASDAQ:ASO - Free Report) had its price objective trimmed by Morgan Stanley from $55.00 to $52.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

ASO has been the topic of a number of other reports. Citigroup lowered their target price on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, June 4th. Telsey Advisory Group restated an "outperform" rating and issued a $58.00 price objective (down previously from $60.00) on shares of Academy Sports and Outdoors in a research report on Tuesday. Truist Financial set a $45.00 price target on shares of Academy Sports and Outdoors in a research report on Wednesday, May 7th. UBS Group reduced their price objective on shares of Academy Sports and Outdoors from $54.00 to $48.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 4th. Finally, B. Riley cut their price target on shares of Academy Sports and Outdoors from $70.00 to $65.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Academy Sports and Outdoors has an average rating of "Moderate Buy" and a consensus price target of $56.31.

Academy Sports and Outdoors Stock Down 5.1%

ASO stock traded down $2.35 during mid-day trading on Wednesday, hitting $43.55. 1,993,353 shares of the company were exchanged, compared to its average volume of 1,647,641. Academy Sports and Outdoors has a twelve month low of $33.34 and a twelve month high of $64.62. The firm has a fifty day simple moving average of $40.44 and a 200 day simple moving average of $47.80. The company has a current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $2.90 billion, a PE ratio of 7.15, a price-to-earnings-growth ratio of 1.02 and a beta of 1.28.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last posted its earnings results on Tuesday, June 10th. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.89 by ($0.13). Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the firm earned $1.08 earnings per share. The company's revenue for the quarter was down .9% on a year-over-year basis. On average, research analysts forecast that Academy Sports and Outdoors will post 5.59 earnings per share for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Thursday, June 19th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.52 annualized dividend and a yield of 1.19%. Academy Sports and Outdoors's payout ratio is 9.01%.

Institutional Trading of Academy Sports and Outdoors

Hedge funds have recently modified their holdings of the stock. Cullen Frost Bankers Inc. boosted its holdings in Academy Sports and Outdoors by 3.3% during the 4th quarter. Cullen Frost Bankers Inc. now owns 6,565 shares of the company's stock worth $378,000 after acquiring an additional 210 shares during the last quarter. Nichols & Pratt Advisers LLP MA lifted its holdings in shares of Academy Sports and Outdoors by 4.7% in the fourth quarter. Nichols & Pratt Advisers LLP MA now owns 5,600 shares of the company's stock worth $322,000 after buying an additional 250 shares in the last quarter. Xponance Inc. raised its stake in Academy Sports and Outdoors by 5.7% in the fourth quarter. Xponance Inc. now owns 4,916 shares of the company's stock valued at $283,000 after purchasing an additional 266 shares in the last quarter. CWM LLC raised its stake in Academy Sports and Outdoors by 7.3% in the first quarter. CWM LLC now owns 3,888 shares of the company's stock valued at $177,000 after purchasing an additional 266 shares in the last quarter. Finally, SummerHaven Investment Management LLC raised its stake in Academy Sports and Outdoors by 1.9% in the first quarter. SummerHaven Investment Management LLC now owns 14,874 shares of the company's stock valued at $678,000 after purchasing an additional 275 shares in 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.