Academy Sports and Outdoors (NASDAQ:ASO) Price Target Lowered to $55.00 at Bank of America

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) had its price objective cut by Bank of America from $60.00 to $55.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's price target would indicate a potential upside of 23.13% from the company's previous close.

A number of other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective 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. Morgan Stanley cut their price objective on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set an "equal weight" rating for the company in a research report on Friday, March 21st. Jefferies Financial Group set a $60.00 target price on Academy Sports and Outdoors in a report on Thursday, March 20th. Truist Financial set a $45.00 price target on Academy Sports and Outdoors in a research report on Wednesday, May 7th. Finally, Citigroup cut their price objective on Academy Sports and Outdoors from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, June 4th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Academy Sports and Outdoors has an average rating of "Moderate Buy" and a consensus target price of $56.31.

Academy Sports and Outdoors Stock Down 2.7%

Academy Sports and Outdoors stock traded down $1.23 on Wednesday, hitting $44.67. 97,504 shares of the stock traded hands, compared to its average volume of 1,642,772. Academy Sports and Outdoors has a 1 year low of $33.34 and a 1 year high of $64.62. The firm has a market cap of $2.97 billion, a P/E ratio of 7.33, a price-to-earnings-growth 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 fifty day simple moving average is $40.44 and its 200 day simple moving average is $47.80.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last posted its quarterly earnings data on Tuesday, June 10th. The company reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.89 by ($0.13). The company 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 7.49% and a return on equity of 23.32%. The firm's quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $1.08 EPS. As a group, sell-side analysts forecast that Academy Sports and Outdoors will post 5.59 earnings per share for the current year.

Hedge Funds Weigh In On Academy Sports and Outdoors

Several institutional investors have recently modified their holdings of ASO. Choreo LLC purchased a new stake in shares of Academy Sports and Outdoors during the 4th quarter worth approximately $278,000. Bleakley Financial Group LLC purchased a new position in Academy Sports and Outdoors during the fourth quarter worth about $212,000. Ingalls & Snyder LLC grew its holdings in Academy Sports and Outdoors by 65.2% during the fourth quarter. Ingalls & Snyder LLC now owns 41,219 shares of the company's stock worth $2,371,000 after acquiring an additional 16,273 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of Academy Sports and Outdoors by 27.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 45,604 shares of the company's stock valued at $2,624,000 after purchasing an additional 9,696 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Academy Sports and Outdoors by 0.3% in the 4th quarter. Principal Financial Group Inc. now owns 341,439 shares of the company's stock valued at $19,643,000 after purchasing an additional 1,100 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.