Academy Sports and Outdoors recently released its earnings results for the quarter ending on August 31st. The company reported earnings per share (EPS) of $2.09, surpassing the consensus estimate of $1.99 by $0.10. Despite a decrease in revenue by 6.2% compared to the same period last year, Academy Sports and Outdoors demonstrated a net margin of 8.71% and a return on equity of 32.91%. Analysts predict that the company will post an EPS of 6.68 for the current year.
Numerous equities research analysts have evaluated ASO’s performance lately and shared their insights. Evercore ISI lowered their price target from $75.00 to $70.00 while maintaining an “outperform” rating for ASO stock. Similarly, Robert W. Baird reduced their target price to $70.00 from $75.00 in June this year. TD Cowen also decreased their price objective from $68.00 to $65.00 but maintained an “outperform” rating.
Furthermore, B Riley Financial commenced coverage on Academy Sports and Outdoors with a “buy” rating and set a target price of $63.00 for the company back in June.& Finally,&B Riley raised their price target from $63.00 to $65 .00 in their research report afterward.
Currently, the consensus rating for Academy Sports and Outdoors is labeled as “Moderate Buy” by Bloomberg data.& With an average target price estimated to be $69.24, the company shows promising prospects in the market.
FORA Capital LLC’s recent acquisition, coupled with the positive earnings report and stable ratings from analysts, suggests that Academy Sports and Outdoors may continue to deliver strong performance in the future. Investors will closely monitor the company’s progress and evaluate opportunities to capitalize on this potential growth.&
Institutional Investors Show Confidence in Academy Sports and Outdoors Stock as Insiders Make Significant Trades
Academy Sports and Outdoors, Inc. (NASDAQ:ASO) has been gaining attention from several institutional investors who have recently made changes to their stakes in the stock. Raymond James Financial Services Advisors Inc., for instance, increased its stake in Academy Sports and Outdoors by 4.2% in the first quarter of this year. The company now owns 48,019 shares of Academy Sports and Outdoors stock valued at $1,892,000 after buying an additional 1,951 shares during the last quarter.
Another notable investor is Bank of New York Mellon Corp, which significantly boosted its holdings in shares of Academy Sports and Outdoors by 117.2% during the same period. The bank now possesses 850,956 shares of the company’s stock worth $33,529,000 after acquiring an additional 459,085 shares.
PNC Financial Services Group Inc. also hiked its position in Academy Sports and Outdoors by 42.0% in the first quarter and now owns 4,798 shares valued at $190,000 after purchasing an additional 1,419 shares.
In a similar vein, Natixis Advisors L.P. acquired a new position in Academy Sports and Outdoors during the first quarter with a value of about $447,000. MetLife Investment Management LLC also entered the scene by growing its position in the company’s stock by 57.0% to reach ownership over 42,967 shares with a worth of $1,693,000.
These recent adjustments to stakes held by institutional investors indicate strong interest and confidence in Academy Sports and Outdoors’ future performance.
Meanwhile, some significant insider trading activities have also taken place within the company. President Michael P. Mullican sold 65,794 shares on June 9th at an average price of $50.34 per share. The total value of this transaction amounted to $3,312,069.96. Subsequently, President Mullican now directly owns 109,304 shares of the company’s stock valued at approximately $5,502,363.36.
EVP Samuel J. Johnson also sold 60,000 shares of Academy Sports and Outdoors stock on June 12th for an average price of $50.76 per share – a total value of $3,045,600.00. Following this sale, the executive vice president now holds 76,124 shares with a value of $3,864,054.24.
These insider trading activities represent a significant sum and indicate potential shifts within the company’s leadership and strategy.
Considering all transactions made by insiders in the last quarter combined, a total of 126,859 shares were sold with a total value of $6,410,100. This suggests that company insiders currently own approximately 3.56% of Academy Sports and Outdoors’ stock.
Moving beyond insider dealings and institutional investments analysis to the valuation metrics involved with NASDAQ:ASO; as of September 5th’s trading session result, Academy Sports and Outdoors took quite a dip reaching $53.69 per share – down $0.88 from previous levels. The company experienced a trading volume of 1,892,200 shares compared to its average volume of 1,594,342.
Additionally noteworthy are the figures reflecting the firm’s fifty-day simple moving average at $55.22 and its two-hundred-day simple moving average at $66.65.
While these figures showcase certain volatility in terms of price fluctuations for investors to consider cautiously due to perplexing market behavior over timeframes like one year — during which there was significant variance between share prices ranging from $40.67 to a high point at $69.02 – assessing such data remains crucial when making investment decisions related to ASO stock.
Academy Sports and Outdoors maintains a market cap of $4.00 billion, with a price-to-earnings ratio of 7.91 and a price-to-earnings-growth ratio of 0.66. Beta-wise, the company stands at 1.20.
Taking into account its debt-to-equity ratio of 0.34 and quick ratio of 0.40, along with a current ratio of 1.68, Academy Sports and Outdoors seems to possess a financial structure that could help maintain stability in the face of market challenges.
In conclusion, Academy Sports and Outdoors has been attracting attention from institutional investors as they adjust their stakes in the stock, signaling optimism about the company’s prospects. Further noteworthy are recent insider trading activities, shedding light on potential shifts within the company’s leadership and strategy.
However, it should be noted that ASO’s recent performance on NASDAQ has experienced fluctuations amidst market volatility, with shares reaching $53.69 as of September 5th’s trading session end.
As with any investment decision, it is important for individuals to conduct their own thorough analysis and evaluate various factors before making informed choices related to investing in Academy Sports and Outdoors stock (NASDAQ:ASO).
The post FORA Capital LLC Shows Confidence in Academy Sports and Outdoors with New Stake Acquisition and Positive Earnings Report appeared first on Best Stocks.
