Evercore ISI Cuts Academy Sports and Outdoors (NASDAQ:ASO) Price Target to $50.00

Key Points

• Evercore ISI has reduced the price target for Academy Sports and Outdoors from $55.00 to $50.00, maintaining an "in-line" rating, which implies a potential upside of 4.38% from the current price.
• Other analysts, including Citigroup, have also downgraded the stock to a "neutral" rating, contributing to a consensus rating of "Moderate Buy" with an average target price of $58.50.
• Despite the recent downgrades, the stock is currently trading up 3.6%, reaching $47.90, amidst varying institutional trading activities.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) had its price target cut by stock analysts at Evercore ISI from $55.00 to $50.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "in-line" rating on the stock. Evercore ISI's target price indicates a potential upside of 4.38% from the stock's current price.

A number of other research analysts also recently issued reports on the company. Citigroup downgraded Academy Sports and Outdoors from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $55.00 to $50.00 in a report on Wednesday, September 3rd. Cowen restated a "hold" rating on shares of Academy Sports and Outdoors in a research note on Wednesday, September 3rd. Guggenheim restated a "buy" rating and issued a $60.00 price target on shares of Academy Sports and Outdoors in a research note on Monday, September 8th. Truist Financial raised their price target on Academy Sports and Outdoors from $47.00 to $50.00 and gave the company a "hold" rating in a research note on Wednesday, September 3rd. Finally, Wells Fargo & Company restated a "positive" rating on shares of Academy Sports and Outdoors in a research note on Wednesday, September 3rd. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $58.50.

Academy Sports and Outdoors Trading Up 3.6%

NASDAQ ASO traded up $1.65 on Tuesday, reaching $47.90. The company had a trading volume of 147,142 shares, compared to its average volume of 1,654,031. The stock's 50 day moving average is $51.67 and its 200-day moving average is $46.12. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 0.97 and a beta of 1.30. The company has a quick ratio of 0.33, a current ratio of 1.64 and a debt-to-equity ratio of 0.23. Academy Sports and Outdoors has a 52 week low of $33.34 and a 52 week high of $61.69.

Insider Activity

In other Academy Sports and Outdoors news, Director Christopher Lee Turner sold 4,400 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $44.48, for a total transaction of $195,712.00. Following the completion of the sale, the director owned 7,084 shares in the company, valued at $315,096.32. The trade was a 38.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.62% of the company's stock.

Institutional Trading of Academy Sports and Outdoors

Several institutional investors and hedge funds have recently bought and sold shares of ASO. Principal Financial Group Inc. grew its stake in shares of Academy Sports and Outdoors by 1.3% in the first quarter. Principal Financial Group Inc. now owns 345,718 shares of the company's stock worth $15,768,000 after acquiring an additional 4,279 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Academy Sports and Outdoors by 4.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,422 shares of the company's stock worth $299,000 after acquiring an additional 283 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Academy Sports and Outdoors by 10,181.5% in the first quarter. GAMMA Investing LLC now owns 127,799 shares of the company's stock worth $5,829,000 after acquiring an additional 126,556 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Academy Sports and Outdoors in the first quarter worth $351,000. Finally, Bessemer Group Inc. grew its stake in shares of Academy Sports and Outdoors by 4.4% in the first quarter. Bessemer Group Inc. now owns 325,721 shares of the company's stock worth $14,856,000 after acquiring an additional 13,761 shares during 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.

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