Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of $7.50-$7.65 for the period, compared to the consensus EPS estimate of $7.18. The company issued revenue guidance of $6.43 billion-$6.49 billion, compared to the consensus revenue estimate of $6.55 billion. Academy Sports and Outdoors also updated its FY23 guidance to $7.50-7.65 EPS.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ASO. The Goldman Sachs Group increased their price objective on Academy Sports and Outdoors from $47.00 to $53.00 and gave the company a buy rating in a research note on Monday, September 12th. Morgan Stanley increased their target price on shares of Academy Sports and Outdoors from $50.00 to $54.00 and gave the stock an equal weight rating in a report on Thursday, September 8th. Oppenheimer lifted their price objective 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. UBS Group lifted their price target on shares of Academy Sports and Outdoors from $55.00 to $60.00 and gave the company a buy rating in a report on Thursday, September 8th. Finally, Evercore ISI upped their price objective on shares of Academy Sports and Outdoors from $55.00 to $60.00 and gave the stock an outperform rating in a report on Thursday, September 8th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $58.70.

Academy Sports and Outdoors Trading Up 13.2 %

NASDAQ ASO traded up $6.52 during trading on Wednesday, hitting $55.82. The stock had a trading volume of 120,996 shares, compared to its average volume of 1,509,031. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.41 and a current ratio of 1.58. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 7.67, a P/E/G ratio of 0.71 and a beta of 1.20. Academy Sports and Outdoors has a one year low of $25.10 and a one year high of $52.34. The stock has a 50 day simple moving average of $45.71 and a 200 day simple moving average of $42.48.

Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) last issued its earnings results on Wednesday, September 7th. The company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.23. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.70 billion. Academy Sports and Outdoors had a net margin of 9.79% and a return on equity of 44.64%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the company posted $2.34 earnings per share. Sell-side analysts predict that Academy Sports and Outdoors will post 7.14 earnings per share for the current year.

Insiders Place Their Bets

In other Academy Sports and Outdoors news, SVP Heather A. Davis sold 6,307 shares of Academy Sports and Outdoors stock in a transaction on Monday, October 24th. The shares were sold at an average price of $43.13, for a total value of $272,020.91. Following the transaction, the senior vice president now directly owns 88,075 shares of the company’s stock, valued at $3,798,674.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Heather A. Davis sold 6,307 shares of Academy Sports and Outdoors stock in a transaction on Monday, October 24th. The shares were sold at an average price of $43.13, for a total transaction of $272,020.91. Following the completion of the sale, the senior vice president now directly owns 88,075 shares in the company, valued at $3,798,674.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Samuel J. Johnson sold 112,000 shares of Academy Sports and Outdoors stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $48.46, for a total transaction of $5,427,520.00. Following the sale, the executive vice president now owns 132,539 shares of the company’s stock, valued at $6,422,839.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,407 shares of company stock valued at $5,704,626. 3.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Academy Sports and Outdoors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASO. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Academy Sports and Outdoors during the 3rd quarter worth approximately $712,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Academy Sports and Outdoors during the 3rd quarter worth approximately $1,149,000. Balyasny Asset Management LLC acquired a new position in Academy Sports and Outdoors during the third quarter worth $2,501,000. BNP Paribas Arbitrage SNC purchased a new position in Academy Sports and Outdoors during the third quarter valued at $3,507,000. Finally, State Street Corp grew its position in shares of Academy Sports and Outdoors by 1.3% in the third quarter. State Street Corp now owns 3,005,249 shares of the company’s stock valued at $126,986,000 after purchasing an additional 38,395 shares during the period. 98.01% of the stock is owned by institutional investors and hedge funds.

Academy Sports and Outdoors Company Profile

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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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Earnings History and Estimates for Academy Sports and Outdoors (NASDAQ:ASO)

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