Oppenheimer Lowers Academy Sports and Outdoors (NASDAQ:ASO) Price Target to $70.00

Academy Sports and Outdoors (NASDAQ:ASO) had its price objective decreased by equities researchers at Oppenheimer from $85.00 to $70.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 48.21% from the stock’s current price.

Several other research analysts have also recently issued reports on ASO. B. Riley decreased their price objective on shares of Academy Sports and Outdoors from $70.00 to $65.00 and set a “buy” rating for the company in a report on Friday. Morgan Stanley decreased their price objective on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Friday. Truist Financial increased their price objective on shares of Academy Sports and Outdoors from $50.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. TD Cowen increased their price objective on shares of Academy Sports and Outdoors from $54.00 to $61.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $60.00 price objective on shares of Academy Sports and Outdoors in a report on Monday, March 17th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.38.

Academy Sports and Outdoors Price Performance

NASDAQ ASO opened at $47.23 on Friday. Academy Sports and Outdoors has a 52 week low of $43.16 and a 52 week high of $68.96. The company has a current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 7.76, a price-to-earnings-growth ratio of 1.02 and a beta of 1.25. The company has a 50-day moving average price of $51.09 and a two-hundred day moving average price of $53.15.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its earnings results on Thursday, March 20th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.82 by $0.14. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. Academy Sports and Outdoors’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.21 EPS. Analysts forecast that Academy Sports and Outdoors will post 5.59 EPS for the current year.

Institutional Investors Weigh In On Academy Sports and Outdoors

Several hedge funds have recently made changes to their positions in the company. FMR LLC lifted its position in shares of Academy Sports and Outdoors by 15.3% in the 3rd quarter. FMR LLC now owns 10,739,463 shares of the company’s stock valued at $626,755,000 after acquiring an additional 1,422,971 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Academy Sports and Outdoors by 12.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,699,015 shares of the company’s stock valued at $212,807,000 after acquiring an additional 404,863 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Academy Sports and Outdoors by 8.1% in the 4th quarter. Pacer Advisors Inc. now owns 2,649,276 shares of the company’s stock valued at $152,413,000 after acquiring an additional 197,384 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Academy Sports and Outdoors by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,023,192 shares of the company’s stock valued at $118,092,000 after acquiring an additional 50,715 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of Academy Sports and Outdoors by 14.2% in the 4th quarter. LSV Asset Management now owns 1,940,041 shares of the company’s stock valued at $111,611,000 after acquiring an additional 241,100 shares in the last quarter.

About Academy Sports and Outdoors

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.