Academy Sports and Outdoors (NASDAQ:ASO) Price Target Raised to $55.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has increased the price target for Academy Sports and Outdoors from $43.00 to $55.00, indicating a potential upside of 3.28% from its current price.
• Analysis from other firms such as Loop Capital and Monness Crespi & Hardt set higher price targets of $65.00 for the stock, while Bank of America and UBS Group lowered their targets to $55.00 and $48.00, respectively.
• Academy Sports and Outdoors reported a quarterly revenue of $1.35 billion, slightly below analyst estimates, and missed the earnings per share expectation by $0.13.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) had its price target increased by equities research analysts at Wells Fargo & Company from $43.00 to $55.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 1.81% from the stock's previous close.

Several other brokerages have also recently weighed in on ASO. Telsey Advisory Group upped their price target on shares of Academy Sports and Outdoors from $58.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Morgan Stanley lowered their price target on shares of Academy Sports and Outdoors from $55.00 to $52.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 11th. Citigroup lowered 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. Loop Capital set a $65.00 price target on shares of Academy Sports and Outdoors in a research report on Monday, July 21st. Finally, UBS Group lowered their price target on shares of Academy Sports and Outdoors from $54.00 to $48.00 and set a "neutral" 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $58.24.

Academy Sports and Outdoors Price Performance

Shares of Academy Sports and Outdoors stock traded down $0.79 during trading hours on Thursday, reaching $54.02. The company's stock had a trading volume of 837,422 shares, compared to its average volume of 1,368,550. The firm has a 50 day moving average price of $49.58 and a 200-day moving average price of $46.30. Academy Sports and Outdoors has a one year low of $33.34 and a one year high of $64.61. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.52 and a quick ratio of 0.29. The stock has a market cap of $3.59 billion, a P/E ratio of 9.93, a P/E/G ratio of 1.01 and a beta of 1.30.

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

Insider Activity at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Christopher Lee Turner sold 4,400 shares of the 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 sale, the director directly owned 7,084 shares of the company's stock, valued at approximately $315,096.32. This represents a 38.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.62% of the company's stock.

Institutional Trading of Academy Sports and Outdoors

A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of Academy Sports and Outdoors by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,846,410 shares of the company's stock valued at $175,438,000 after purchasing an additional 147,395 shares in the last quarter. LSV Asset Management increased its holdings in Academy Sports and Outdoors by 43.0% during the 2nd quarter. LSV Asset Management now owns 3,119,790 shares of the company's stock valued at $139,798,000 after acquiring an additional 937,449 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in Academy Sports and Outdoors by 5.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,110,172 shares of the company's stock valued at $94,557,000 after acquiring an additional 117,175 shares in the last quarter. American Century Companies Inc. increased its holdings in Academy Sports and Outdoors by 22.4% during the 2nd quarter. American Century Companies Inc. now owns 2,051,455 shares of the company's stock valued at $91,926,000 after acquiring an additional 376,027 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in Academy Sports and Outdoors by 45.2% during the 2nd quarter. William Blair Investment Management LLC now owns 1,440,032 shares of the company's stock valued at $64,528,000 after acquiring 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.