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

Key Points

• Barclays raised its price target on Academy Sports and Outdoors to $55 (from $49) but kept an "equal weight" rating, with the new target implying roughly a 6% downside from the prior close.
• Analyst coverage is mixed: several firms have raised targets and/or maintain Buy ratings, but MarketBeat's consensus is a "Hold" (five Buy vs. eleven Hold) with an average target of $58.14.
• Shares traded near $58.49 (+2.3%) midday; the company has a $3.77B market cap and P/E of 10.55, while recent quarterly results slightly missed expectations (EPS $1.97 vs. $2.05; revenue $1.72B vs. $1.76B).

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) had its target price lifted by Barclays from $49.00 to $55.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price objective would suggest a potential downside of 5.97% from the stock's previous close.

ASO has been the topic of several other reports. Jefferies Financial Group restated a "buy" rating and set a $61.00 price target on shares of Academy Sports and Outdoors in a report on Tuesday, March 17th. Guggenheim upped their price target on shares of Academy Sports and Outdoors from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Academy Sports and Outdoors from $56.00 to $60.00 and gave the company a "neutral" rating in a research note on Wednesday, March 18th. Telsey Advisory Group restated an "outperform" rating and set a $65.00 price target on shares of Academy Sports and Outdoors in a research note on Tuesday, March 17th. Finally, Truist Financial dropped their price target on shares of Academy Sports and Outdoors from $59.00 to $52.00 and set a "hold" rating on the stock in a research note on Tuesday, March 17th. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $58.14.

Academy Sports and Outdoors Stock Up 2.3%

Academy Sports and Outdoors stock traded up $1.31 during midday trading on Wednesday, hitting $58.49. 122,620 shares of the stock were exchanged, compared to its average volume of 1,537,407. Academy Sports and Outdoors has a 52-week low of $33.34 and a 52-week high of $62.44. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 0.89 and a beta of 1.21. The business's 50-day moving average price is $57.28 and its 200-day moving average price is $53.12. The company has a quick ratio of 0.44, a current ratio of 1.89 and a debt-to-equity ratio of 0.22.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its quarterly earnings results on Tuesday, March 17th. The company reported $1.97 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.08). Academy Sports and Outdoors had a return on equity of 17.88% and a net margin of 6.22%.The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter last year, the firm posted $1.96 earnings per share. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. On average, research analysts expect that Academy Sports and Outdoors will post 5.59 EPS for the current fiscal year.

Institutional Trading of Academy Sports and Outdoors

Several institutional investors and hedge funds have recently bought and sold shares of ASO. Junto Capital Management LP purchased a new stake in Academy Sports and Outdoors in the 3rd quarter worth approximately $36,567,000. Boston Partners lifted its stake in Academy Sports and Outdoors by 85.5% in the 3rd quarter. Boston Partners now owns 1,302,141 shares of the company's stock worth $65,416,000 after purchasing an additional 600,335 shares in the last quarter. Norges Bank purchased a new stake in Academy Sports and Outdoors in the 4th quarter worth approximately $29,301,000. Invesco Ltd. raised its position in shares of Academy Sports and Outdoors by 128.2% during the 4th quarter. Invesco Ltd. now owns 833,769 shares of the company's stock valued at $41,655,000 after buying an additional 468,457 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Academy Sports and Outdoors by 219.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 501,028 shares of the company's stock worth $22,452,000 after acquiring an additional 344,376 shares during the last quarter.

Academy Sports and Outdoors Company Profile

Academy Sports and Outdoors is a leading specialty retailer of sporting goods and outdoor gear, operating more than 260 stores across the United States. Headquartered in Katy, Texas, the company offers a broad assortment of merchandise spanning athletic footwear and apparel, team sports equipment, camping and outdoor recreation products, hunting and fishing supplies, and fitness accessories. In addition to its brick-and-mortar footprint, Academy serves customers through its e-commerce platform, offering online ordering, in-store pickup, and home delivery options.

The company's product portfolio includes seasonal and year-round categories designed to meet the needs of both casual enthusiasts and serious athletes.

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