Academy Sports activities and Open air (NASDAQ:ASO) Downgraded by Zacks Funding Analysis to “Maintain”

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Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) was downgraded from a “buy” rating to a “hold” rating by Zacks Investment Research in a report published Wednesday, Zacks.com reports.

According to Zacks, “Academy Sports and Outdoors Inc. provides sporting goods and outdoor recreation retailers primarily in the United States. The company’s product range focuses on outdoor, clothing, shoes and sports and leisure. Academy Sports and Outdoors Inc. is located in KATY, Texas. “

ASO has been the subject of a number of other research reports. Truist Financial assumed coverage on shares of Academy Sports and Outdoors in a research report on Wednesday, May 11th. They provided a buy rating and a price target of $53.00 on the stock. Loop Capital raised its target price on Academy Sports and Outdoors from $43.00 to $50.00 in a research report on Wednesday, March 30. Goldman Sachs Group has lowered its price target on Academy Sports and Outdoors to $49.00 from $61.00, giving the company a buy rating in a report Wednesday, May 4th. Stephens raised his price target on Academy Sports and Outdoors to $70.00 from $68.00 and rated the company as “overweight” in a research report on Wednesday, March 30. Finally, Wells Fargo & Company lowered its target price on Academy Sports and Outdoors from $62.00 to $58.00 and ranked the company as “overweight” in a research note on Thursday, March 24. One equities research analyst has assigned a hold rating to the stock and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Academy Sports and Outdoors currently has a consensus rating of Buy and an average target price of $54.08.

ASO shares rose $0.38 on Wednesday afternoon to hit $33.89. 1,873,310 shares of the stock were exchanged compared to an average volume of 2,927,725. Academy Sports and Outdoors has a 52-week low of $25.10 and a 52-week high of $51.08. The company has a current ratio of 1.52, a quick ratio of 0.48 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average is $37.08 and the two-hundred-day moving average is $38.51. The company has a market cap of $2.92 billion, a P/E ratio of 4.76, a PEG ratio of 0.33, and a beta of 1.60.

Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) last released its quarterly earnings data on Tuesday, March 29th. The company reported earnings per share of $1.61 for the quarter, beating analysts’ consensus estimate of $1.36 by $0.25. Academy Sports and Outdoors had a return on equity of 51.14% and a net margin of 9.91%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.77 billion. In the same quarter last year, the company generated earnings per share of $1.09. The company’s revenue for the quarter increased 13.2% compared to the same quarter last year. On average, sell-side analysts expect Academy Sports and Outdoors to post 7.02 EPS for the year to date.

Several hedge funds have recently changed their positions in the company. BlackRock Inc. increased its stake in Academy Sports and Outdoors by 124.0% in the first quarter. BlackRock Inc. now owns 13,562,648 shares of the Company’s shares valued at $534,370,000 after purchasing an additional 7,507,589 shares during the period. Vanguard Group Inc. increased its stake in Academy Sports and Outdoors by 11.3% in the first quarter. Vanguard Group Inc. now owns 9,462,337 shares of the Company’s stock valued at $372,817,000 after purchasing an additional 958,800 shares during the period. State Street Corp increased its stake in Academy Sports and Outdoors by 73.0% in the first quarter. State Street Corp now owns 2,834,137 shares of the Company’s shares valued at $111,872,000 after purchasing an additional 1,196,076 shares during the period. Morgan Stanley increased its stake in Academy Sports and Outdoors by 64.3% in the third quarter. Morgan Stanley now owns 2,803,273 shares of the Company’s stock valued at $112,187,000, having purchased an additional 1,096,886 shares during the period. Finally, Maverick Capital Ltd. its stake in Academy Sports and Outdoors by 57.4% in the third quarter. Maverick Capital Ltd. now owns 2,636,959 shares of the Company, valued at $105,531,000, having acquired an additional 961,114 shares during the period. 89.94% of the shares are currently owned by institutional investors and hedge funds.

About Academy Sports and Outdoors (get rating)

Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a retailer of sporting goods and outdoor recreation products in the United States. The company sells coolers and drinkware, camping supplies, camping gear, sunglasses, backpacks and gym bags; marine equipment and fishing rods, reels, bait and tackle; firearms, ammunition, archery and archery equipment, camouflage clothing, waders, shooting accessories, optics, air guns and hunting equipment; team sports equipment including baseball, football, basketball, soccer, golf, racquet sports and volleyball; fitness equipment and accessories and dietary supplements; and patio furniture, outdoor cooking, wheeled products, trampolines, playsets, water sports and pet gear, as well as electronic products, clocks, consumables, batteries, etc.

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