Academy Sports and Outdoors (NASDAQ:ASO) Shares Gap Up - Here's What Happened

Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $39.22, but opened at $43.92. Academy Sports and Outdoors shares last traded at $45.17, with a volume of 561,200 shares.

Wall Street Analysts Forecast Growth

ASO has been the topic of several research reports. Wedbush dropped their target price on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Oppenheimer dropped their price target on shares of Academy Sports and Outdoors from $85.00 to $70.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Robert W. Baird reduced their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating for the company in a report on Friday, March 21st. UBS Group reduced their price objective on shares of Academy Sports and Outdoors from $58.00 to $55.00 and set a "neutral" rating for the company in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Academy Sports and Outdoors from $52.00 to $54.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Academy Sports and Outdoors has a consensus rating of "Moderate Buy" and an average price target of $57.44.

Academy Sports and Outdoors Trading Up 16.5%

The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 1.02 and a beta of 1.29. The company has a fifty day moving average of $41.79 and a two-hundred day moving average of $48.86. The company has a current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.82 by $0.14. Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter last year, the business earned $2.21 earnings per share. The company's revenue was down 6.6% compared to the same quarter last year. On average, research analysts expect that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current year.

Academy Sports and Outdoors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, March 25th were issued a dividend of $0.13 per share. The ex-dividend date was Tuesday, March 25th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.14%. This is a boost from Academy Sports and Outdoors's previous quarterly dividend of $0.11. Academy Sports and Outdoors's payout ratio is 9.01%.

Hedge Funds Weigh In On Academy Sports and Outdoors

A number of institutional investors and hedge funds have recently bought and sold shares of ASO. Cullen Frost Bankers Inc. grew its stake in shares of Academy Sports and Outdoors by 3.3% in the fourth quarter. Cullen Frost Bankers Inc. now owns 6,565 shares of the company's stock worth $378,000 after purchasing an additional 210 shares during the last quarter. Nichols & Pratt Advisers LLP MA increased its stake in Academy Sports and Outdoors by 4.7% in the 4th 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. boosted its holdings in shares of Academy Sports and Outdoors by 5.7% during the 4th quarter. Xponance Inc. now owns 4,916 shares of the company's stock valued at $283,000 after purchasing an additional 266 shares during the last quarter. CWM LLC lifted 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 worth $177,000 after purchasing an additional 266 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its position in shares of Academy Sports and Outdoors by 1.9% during the first quarter. SummerHaven Investment Management LLC now owns 14,874 shares of the company's stock worth $678,000 after acquiring an additional 275 shares during the period.

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.

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