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

Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $44.37, but opened at $46.62. Academy Sports and Outdoors shares last traded at $45.65, with a volume of 1,022,949 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ASO shares. Robert W. Baird decreased their price target on Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Telsey Advisory Group reissued an "outperform" rating and issued a $58.00 price objective (down previously from $60.00) on shares of Academy Sports and Outdoors in a report on Tuesday. Bank of America decreased their target price on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Wednesday. 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 report on Friday, March 21st. Finally, Wedbush dropped their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $56.31.

Academy Sports and Outdoors Trading Up 3.9%

The company has a market cap of $3.08 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 1.02 and a beta of 1.28. 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 business's 50 day moving average price is $40.10 and its 200-day moving average price is $47.85.

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

Academy Sports and Outdoors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Thursday, June 19th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.52 annualized dividend and a yield of 1.12%. Academy Sports and Outdoors's dividend payout ratio (DPR) is presently 9.01%.

Institutional Investors Weigh In On Academy Sports and Outdoors

A number of hedge funds and other institutional investors have recently modified their holdings of ASO. Fund 1 Investments LLC bought a new position in Academy Sports and Outdoors during the fourth quarter worth about $4,929,000. Bank of New York Mellon Corp increased its holdings in shares of Academy Sports and Outdoors by 14.6% during the fourth quarter. Bank of New York Mellon Corp now owns 712,226 shares of the company's stock worth $40,974,000 after purchasing an additional 90,592 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Academy Sports and Outdoors in the fourth quarter valued at approximately $1,969,000. Wells Fargo & Company MN boosted its stake in shares of Academy Sports and Outdoors by 11.4% in the fourth 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 period. Finally, Pacifica Capital Investments LLC increased its stake in Academy Sports and Outdoors by 7.9% during the 4th quarter. Pacifica Capital Investments LLC now owns 400,505 shares of the company's stock worth $23,041,000 after acquiring an additional 29,410 shares during the period.

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.