Academy Sports activities and Open air (NASDAQ:ASO) Upgraded to Purchase at Zacks Funding Analysis

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Academy Sports and Outdoors (NASDAQ:ASO – Rating Received) was upgraded from a “hold” rating to a “buy” rating by Zacks Investment Research in a report published Friday, Zacks.com reports. The brokerage currently has a price target of $42.00 on the stock. Zacks Investment Research’s price target would indicate a potential upside of 14.66% from the company’s current price.

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. “

Several other equity analysts have also recently published reports on ASO. Loop Capital increased its target price on shares of Academy Sports and Outdoors from $43.00 to $50.00 in a report on Wednesday, March 30. Stephens raised his target price on shares of Academy Sports and Outdoors from $70.00 to $72.00 and ranked the company as “overweight” in a research note on Wednesday. UBS Group lowered its target price on shares of Academy Sports and Outdoors to $55.00 in a research report on Thursday. Wells Fargo & Company lowered its target price on shares of Academy Sports and Outdoors from $62.00 to $58.00 and ranked the stock as “overweight” in a research report on Thursday, March 24. Finally, Goldman Sachs Group lowered its target price on Academy Sports and Outdoors from $61.00 to $49.00 and gave the stock a buy rating in a report on Wednesday, April 4th. According to MarketBeat.com, Academy Sports and Outdoors currently has an average rating of Buy and a consensus target of $54.08.

Shares of NASDAQ:ASO fell $1.23 on Friday midday to hit $36.63. The company had a trading volume of 2,210,322 shares compared to its average volume of 2,915,089. The company has a debt to equity ratio of 0.45, a current ratio of 1.56 and a quick ratio of 0.48. The stock’s 50-day moving average price is $36.86 and its 200-day moving average price is $37.98. The stock has a market cap of $3.16 billion, a P/E of 5.26, a PEG ratio of 0.38, and a beta of 1.65. Academy Sports and Outdoors has a yearly low of $25.10 and a yearly high of $51.08.

Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) last released its earnings results on Tuesday, June 7th. The company reported earnings per share of $1.73 for the quarter, beating the consensus estimate of $1.41 by $0.32. Academy Sports and Outdoors had a net margin of 9.66% and a return on equity of 47.24%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.45 billion. In the same quarter last year, the company generated earnings per share of $1.89. The company’s revenue for the quarter declined 7.1% compared to the same quarter last year. As a group, sell-side analysts are forecasting that Academy Sports and Outdoors will report year-to-date earnings per share of 6.88.

A number of hedge funds and other institutional investors have recently added to or reduced their holdings in ASO. 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 stock valued at $534,370,000 after purchasing an additional 7,507,589 shares last quarter. Morgan Stanley increased its stake in Academy Sports and Outdoors by 1,107.8% in the second quarter. Morgan Stanley now owns 1,706,387 shares of the company’s stock valued at $70,370,000 after purchasing an additional 1,565,102 shares last quarter. Marshall Wace LLP increased its stake in Academy Sports and Outdoors by 1,721.4% during the third quarter. Marshall Wace LLP now owns 1,286,524 shares of the company’s stock valued at $51,487,000 after purchasing an additional 1,215,891 shares last quarter. 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 stock valued at $111,872,000 after purchasing an additional 1,196,076 shares last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Academy Sports and Outdoors by 11,157.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,079,773 shares of the company’s stock valued at $42,542,000 after purchasing an additional 1,070,181 shares last quarter. Hedge funds and other institutional investors own 89.94% of the company’s shares.

Company profile of Academy Sports and Outdoors (received 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, lures 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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