Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Short Interest Update

by · The Markets Daily

Academy Sports and Outdoors, Inc. (NASDAQ:ASO – Get Free Report) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 4,910,000 shares, a decline of 23.2% from the October 15th total of 6,390,000 shares. Based on an average daily volume of 1,330,000 shares, the short-interest ratio is currently 3.7 days. Approximately 7.1% of the company’s shares are short sold.

Academy Sports and Outdoors Stock Performance

NASDAQ ASO traded down $1.49 during trading on Friday, reaching $47.80. 1,074,007 shares of the company’s stock were exchanged, compared to its average volume of 1,423,311. The business has a 50 day moving average price of $55.05 and a 200-day moving average price of $54.42. The stock has a market capitalization of $3.36 billion, a P/E ratio of 7.59, a PEG ratio of 0.95 and a beta of 1.37. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 0.41. Academy Sports and Outdoors has a fifty-two week low of $45.47 and a fifty-two week high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO – Get Free Report) last announced its quarterly earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.07. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the firm posted $2.01 EPS. The company’s quarterly revenue was down 2.2% on a year-over-year basis. Sell-side analysts forecast that Academy Sports and Outdoors will post 6.02 earnings per share for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Thursday, September 19th. Academy Sports and Outdoors’s dividend payout ratio is presently 6.79%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Loop Capital restated a “buy” rating and set a $77.00 price objective on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. TD Cowen raised their price objective on Academy Sports and Outdoors from $54.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Wedbush reissued an “outperform” rating and issued a $65.00 target price on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Telsey Advisory Group reissued an “outperform” rating and set a $65.00 price objective on shares of Academy Sports and Outdoors in a research report on Thursday, September 5th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $60.00 target price on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.50.

Check Out Our Latest Stock Report on Academy Sports and Outdoors

Insider Buying and Selling

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of Academy Sports and Outdoors stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $62.00, for a total transaction of $74,400.00. Following the completion of the sale, the director now directly owns 8,906 shares of the company’s stock, valued at $552,172. The trade was a 11.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Academy Sports and Outdoors

A number of large investors have recently made changes to their positions in ASO. Harbor Capital Advisors Inc. bought a new position in shares of Academy Sports and Outdoors during the third quarter worth approximately $28,000. Headlands Technologies LLC bought a new position in Academy Sports and Outdoors during the 1st quarter worth $35,000. V Square Quantitative Management LLC acquired a new position in Academy Sports and Outdoors in the 3rd quarter valued at $40,000. Farther Finance Advisors LLC lifted its position in shares of Academy Sports and Outdoors by 98.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 738 shares of the company’s stock valued at $43,000 after acquiring an additional 366 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Academy Sports and Outdoors during the 3rd quarter worth $58,000.

About Academy Sports and Outdoors

(Get Free Report)

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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