Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Short Interest Up 6.7% in January

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 8,720,000 shares, a growth of 6.7% from the December 31st total of 8,170,000 shares. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is currently 5.6 days. Currently, 12.7% of the shares of the company are sold short.

Institutional Trading of Academy Sports and Outdoors

A number of hedge funds have recently bought and sold shares of ASO. Harbor Capital Advisors Inc. purchased a new position in shares of Academy Sports and Outdoors during the third quarter worth approximately $28,000. V Square Quantitative Management LLC purchased a new position in Academy Sports and Outdoors in the 3rd quarter worth $40,000. TD Private Client Wealth LLC bought a new stake in Academy Sports and Outdoors in the third quarter worth $40,000. Farther Finance Advisors LLC boosted its position in Academy Sports and Outdoors by 98.4% during the third quarter. Farther Finance Advisors LLC now owns 738 shares of the company’s stock valued at $43,000 after buying an additional 366 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Academy Sports and Outdoors during the third quarter valued at about $58,000.

Academy Sports and Outdoors Stock Down 2.6 %

ASO stock opened at $50.93 on Tuesday. The company’s 50 day moving average is $54.40 and its 200 day moving average is $54.00. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 1.17 and a beta of 1.25. The company has a current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. Academy Sports and Outdoors has a 1-year low of $44.73 and a 1-year high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.30). Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the company earned $1.38 EPS. Academy Sports and Outdoors’s quarterly revenue was down 3.9% on a year-over-year basis. Sell-side analysts predict that Academy Sports and Outdoors will post 5.59 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, December 18th. This represents a $0.44 annualized dividend and a dividend yield of 0.86%. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 7.22%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ASO shares. Citigroup began coverage on Academy Sports and Outdoors in a research note on Wednesday, December 18th. They set a “buy” rating and a $65.00 price target for the company. Truist Financial lifted their target price on shares of Academy Sports and Outdoors from $50.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. TD Cowen upped their price target on shares of Academy Sports and Outdoors from $54.00 to $61.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. Wedbush reiterated an “outperform” rating and issued a $65.00 price objective on shares of Academy Sports and Outdoors in a research note on Wednesday, December 11th. Finally, Telsey Advisory Group dropped their target price on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $61.67.

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.