Academy Sports and Outdoors (NASDAQ:ASO) Stock Price Down 16.7% – Should You Sell?

Academy Sports and Outdoors, Inc. (NASDAQ:ASO)’s stock price dropped 16.7% during trading on Thursday . The company traded as low as $40.35 and last traded at $39.68. Approximately 395,724 shares traded hands during trading, a decline of 75% from the average daily volume of 1,562,923 shares. The stock had previously closed at $47.63.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. 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. Telsey Advisory Group reissued an “outperform” rating and issued a $60.00 price target on shares of Academy Sports and Outdoors in a report on Monday, March 17th. Robert W. Baird lowered their price target on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Oppenheimer cut their price objective on shares of Academy Sports and Outdoors from $85.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Finally, Morgan Stanley decreased their target price on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Academy Sports and Outdoors has an average rating of “Moderate Buy” and an average target price of $59.69.

Academy Sports and Outdoors Trading Down 17.1 %

The stock has a market capitalization of $2.65 billion, a PE ratio of 6.48, a price-to-earnings-growth ratio of 1.02 and a beta of 1.25. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 1.57. The business’s 50-day moving average is $50.19 and its two-hundred day moving average is $52.76.

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

Academy Sports and Outdoors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, March 25th will be paid a $0.13 dividend. This is an increase from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a yield of 1.32%. The ex-dividend date is Tuesday, March 25th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 9.01%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Townsquare Capital LLC purchased a new stake in Academy Sports and Outdoors in the 3rd quarter valued at approximately $240,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Academy Sports and Outdoors by 3.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,973 shares of the company’s stock worth $1,049,000 after purchasing an additional 569 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Academy Sports and Outdoors during the third quarter worth about $874,000. Paloma Partners Management Co acquired a new position in Academy Sports and Outdoors in the third quarter valued at $588,000. Finally, HighTower Advisors LLC boosted its position in shares of Academy Sports and Outdoors by 6.2% in the third quarter. HighTower Advisors LLC now owns 5,553 shares of the company’s stock worth $324,000 after acquiring an additional 323 shares during 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.