Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Short Interest Down 11.0% in August
Academy Sports and Outdoors, Inc. (NASDAQ:ASO – Get Rating) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 9,760,000 shares, a drop of 11.0% from the August 15th total of 10,970,000 shares. Based on an average daily trading volume, of 1,850,000 shares, the short-interest ratio is presently 5.3 days. Currently, 11.6% of the company’s shares are sold short.
Academy Sports and Outdoors Stock Performance
ASO stock opened at $47.16 on Monday. The business’s 50-day moving average price is $44.19 and its two-hundred day moving average price is $39.13. The company has a current ratio of 1.58, a quick ratio of 0.41 and a debt-to-equity ratio of 0.45. The firm has a market cap of $3.76 billion, a PE ratio of 6.55, a P/E/G ratio of 0.70 and a beta of 1.37. Academy Sports and Outdoors has a 1-year low of $25.10 and a 1-year high of $51.51.
Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) last released its quarterly earnings results on Wednesday, September 7th. The company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.23. Academy Sports and Outdoors had a return on equity of 44.64% and a net margin of 9.79%. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the business posted $2.34 EPS. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, research analysts forecast that Academy Sports and Outdoors will post 7.08 earnings per share for the current year.
Academy Sports and Outdoors Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Thursday, September 15th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Wednesday, September 14th. Academy Sports and Outdoors’s dividend payout ratio is 4.17%.
Insider Buying and Selling at Academy Sports and Outdoors
In other Academy Sports and Outdoors news, EVP Samuel J. Johnson sold 112,000 shares of the stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $48.46, for a total value of $5,427,520.00. Following the transaction, the executive vice president now directly owns 132,539 shares in the company, valued at approximately $6,422,839.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.51% of the company’s stock.
Institutional Trading of Academy Sports and Outdoors
Several hedge funds and other institutional investors have recently modified their holdings of ASO. Teacher Retirement System of Texas increased its position in shares of Academy Sports and Outdoors by 69.0% in the fourth quarter. Teacher Retirement System of Texas now owns 16,678 shares of the company’s stock valued at $732,000 after acquiring an additional 6,812 shares during the last quarter. Rhumbline Advisers increased its position in shares of Academy Sports and Outdoors by 5.0% in the fourth quarter. Rhumbline Advisers now owns 108,698 shares of the company’s stock valued at $4,772,000 after acquiring an additional 5,139 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Academy Sports and Outdoors by 180.1% in the fourth quarter. Allianz Asset Management GmbH now owns 422,848 shares of the company’s stock valued at $18,563,000 after acquiring an additional 271,864 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in shares of Academy Sports and Outdoors in the fourth quarter valued at about $471,000. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of Academy Sports and Outdoors in the fourth quarter valued at about $781,000. Institutional investors and hedge funds own 98.01% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently issued reports on ASO shares. Oppenheimer raised their price target on Academy Sports and Outdoors from $50.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, September 8th. Evercore ISI raised their price target on Academy Sports and Outdoors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, September 8th. The Goldman Sachs Group raised their price target on Academy Sports and Outdoors from $47.00 to $53.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Wedbush raised their price target on Academy Sports and Outdoors from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, September 8th. Finally, Stephens raised their price target on Academy Sports and Outdoors from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 8th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Academy Sports and Outdoors presently has an average rating of “Moderate Buy” and an average target price of $58.70.
About Academy Sports and Outdoors
Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational products retailer in the United States. The company sells coolers and drinkware, camping accessories, camping equipment, sunglasses, backpacks, and sports bags; marine equipment and fishing rods, reels, baits, and equipment; firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, optics, airguns, and hunting equipment; team sports equipment, including baseball, football, basketball, soccer, golf, racket sports, and volleyball; fitness equipment and accessories, and nutrition supplies; and patio furniture, outdoor cooking, wheeled goods, trampolines, playsets, watersports, and pet equipment, as well as electronics products, watches, consumables, batteries, etc.
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