Truist Financial Issues Positive Forecast for Academy Sports and Outdoors (NASDAQ:ASO) Stock Price

Key Points

• Truist Financial has raised its price target for Academy Sports and Outdoors from $47.00 to $50.00, maintaining a "hold" rating on the stock.
• Academy Sports and Outdoors reported a Q1 EPS of $0.76, which missed analysts' expectations of $0.89, and experienced a revenue decline of 0.9% compared to the previous year.
• Currently, the average analyst rating for Academy Sports and Outdoors is "Hold", with a consensus price target of $58.59.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) had its price target hoisted by investment analysts at Truist Financial from $47.00 to $50.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's target price would indicate a potential downside of 1.69% from the stock's current price.

Several other research firms have also commented on ASO. Wells Fargo & Company lifted their price target on Academy Sports and Outdoors from $43.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. Telsey Advisory Group reissued an "outperform" rating and set a $65.00 target price on shares of Academy Sports and Outdoors in a research report on Tuesday, September 2nd. Bank of America cut their target price on Academy Sports and Outdoors from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 11th. Evercore ISI boosted their target price on Academy Sports and Outdoors from $50.00 to $55.00 and gave the company an "in-line" rating in a research report on Tuesday, August 26th. Finally, Morgan Stanley cut their target price on Academy Sports and Outdoors from $55.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 11th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, Academy Sports and Outdoors currently has an average rating of "Moderate Buy" and a consensus target price of $58.71.

Academy Sports and Outdoors Price Performance

ASO traded up $0.82 during trading hours on Wednesday, hitting $50.86. The company's stock had a trading volume of 1,360,622 shares, compared to its average volume of 1,558,572. The business's 50-day moving average price is $51.89 and its 200-day moving average price is $46.30. Academy Sports and Outdoors has a 12 month low of $33.34 and a 12 month high of $64.61. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 9.52, a P/E/G ratio of 1.02 and a beta of 1.30. The company has a current ratio of 1.64, a quick ratio of 0.29 and a debt-to-equity ratio of 0.23.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.13). Academy Sports and Outdoors had a return on equity of 18.47% and a net margin of 6.21%.The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the firm posted $1.08 EPS. The company's revenue for the quarter was down .9% on a year-over-year basis. Academy Sports and Outdoors has set its FY 2025 guidance at 5.450-6.25 EPS. Sell-side analysts expect that Academy Sports and Outdoors will post 5.59 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Christopher Lee Turner sold 4,400 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $44.48, for a total transaction of $195,712.00. Following the completion of the sale, the director directly owned 7,084 shares of the company's stock, valued at approximately $315,096.32. This trade represents a 38.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.62% of the company's stock.

Institutional Trading of Academy Sports and Outdoors

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in Academy Sports and Outdoors by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,846,410 shares of the company's stock worth $175,438,000 after purchasing an additional 147,395 shares in the last quarter. LSV Asset Management grew its stake in Academy Sports and Outdoors by 43.0% in the second quarter. LSV Asset Management now owns 3,119,790 shares of the company's stock worth $139,798,000 after purchasing an additional 937,449 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in Academy Sports and Outdoors by 5.9% in the second quarter. Westwood Holdings Group Inc. now owns 2,110,172 shares of the company's stock worth $94,557,000 after purchasing an additional 117,175 shares in the last quarter. American Century Companies Inc. grew its stake in Academy Sports and Outdoors by 22.4% in the second quarter. American Century Companies Inc. now owns 2,051,455 shares of the company's stock worth $91,926,000 after purchasing an additional 376,027 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in Academy Sports and Outdoors by 45.2% in the second quarter. William Blair Investment Management LLC now owns 1,440,032 shares of the company's stock worth $64,528,000 after purchasing an additional 448,582 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.