Academy Sports and Outdoors (NASDAQ:ASO) Sees Large Volume Increase After Better-Than-Expected Earnings

Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) saw unusually-high trading volume on Tuesday following a stronger than expected earnings report. Approximately 1,792,746 shares traded hands during trading, an increase of 24% from the previous session’s volume of 1,451,558 shares.The stock last traded at $56.26 and had previously closed at $52.64.

The company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.96 by $0.07. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Academy Sports and Outdoors had a return on equity of 27.18% and a net margin of 8.17%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.01 EPS.

Academy Sports and Outdoors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, September 19th will be paid a $0.11 dividend. The ex-dividend date is Thursday, September 19th. This represents a $0.44 annualized dividend and a dividend yield of 0.79%. Academy Sports and Outdoors’s payout ratio is 6.73%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ASO shares. Loop Capital reaffirmed a “buy” rating and set a $77.00 target price on shares of Academy Sports and Outdoors in a research report on Wednesday. Wells Fargo & Company upped their target price on Academy Sports and Outdoors from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Wedbush reiterated an “outperform” rating and set a $65.00 price target on shares of Academy Sports and Outdoors in a report on Wednesday. Truist Financial upped their target price on Academy Sports and Outdoors from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird cut their target price on Academy Sports and Outdoors from $80.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.86.

Insider Activity

In other news, Director Jeffrey C. Tweedy sold 625 shares of Academy Sports and Outdoors stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total transaction of $33,906.25. Following the transaction, the director now owns 10,106 shares in the company, valued at approximately $548,250.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new position in shares of Academy Sports and Outdoors during the 2nd quarter worth approximately $294,000. Truist Financial Corp increased its holdings in shares of Academy Sports and Outdoors by 45.4% during the 2nd quarter. Truist Financial Corp now owns 7,495 shares of the company’s stock worth $399,000 after acquiring an additional 2,342 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Academy Sports and Outdoors by 7.4% during the 2nd quarter. Sunbelt Securities Inc. now owns 7,653 shares of the company’s stock worth $408,000 after acquiring an additional 525 shares during the last quarter. Impala Asset Management LLC acquired a new position in shares of Academy Sports and Outdoors during the 2nd quarter worth approximately $3,728,000. Finally, Algert Global LLC acquired a new position in Academy Sports and Outdoors in the 2nd quarter valued at $2,538,000.

Academy Sports and Outdoors Trading Up 1.4 %

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.62. The business has a fifty day simple moving average of $53.36 and a 200 day simple moving average of $57.77. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 0.92 and a beta of 1.34.

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.