Short Interest in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Declines By 9.6%

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 5,540,000 shares, a decline of 9.6% from the August 31st total of 6,130,000 shares. Currently, 8.0% of the shares of the stock are sold short. Based on an average daily volume of 1,550,000 shares, the days-to-cover ratio is currently 3.6 days.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ASO shares. Evercore ISI boosted their target price on shares of Academy Sports and Outdoors from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Jefferies Financial Group decreased their target price on Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Bank of America downgraded Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $75.00 to $63.00 in a report on Tuesday, June 11th. Truist Financial increased their price objective on Academy Sports and Outdoors from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, UBS Group cut shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $81.00 to $58.00 in a research note on Wednesday, June 12th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $62.86.

Academy Sports and Outdoors Stock Down 1.4 %

Shares of NASDAQ:ASO opened at $58.36 on Tuesday. Academy Sports and Outdoors has a 52-week low of $42.83 and a 52-week high of $75.73. The company has a quick ratio of 0.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 8.92, a price-to-earnings-growth ratio of 1.16 and a beta of 1.34. The company has a 50 day moving average of $54.95 and a two-hundred day moving average of $56.58.

Academy Sports and Outdoors (NASDAQ:ASO) last released its earnings results on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.07. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. Academy Sports and Outdoors’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.01 EPS. As a group, analysts forecast that Academy Sports and Outdoors will post 6.03 earnings per share for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, September 19th. Academy Sports and Outdoors’s payout ratio is 6.73%.

Insiders Place Their Bets

In related news, Director Jeffrey C. Tweedy sold 625 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total value of $33,906.25. Following the completion of the sale, the director now owns 10,106 shares of the company’s stock, valued at $548,250.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 625 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $54.25, for a total value of $33,906.25. Following the transaction, the director now directly owns 10,106 shares in the company, valued at approximately $548,250.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey C. Tweedy sold 1,200 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $62.00, for a total transaction of $74,400.00. Following the sale, the director now owns 8,906 shares in the company, valued at $552,172. The disclosure for this sale can be found here. 2.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASO. Jones Financial Companies Lllp acquired a new stake in Academy Sports and Outdoors in the fourth quarter worth approximately $26,000. Headlands Technologies LLC bought a new position in Academy Sports and Outdoors during the first quarter valued at about $35,000. Future Financial Wealth Managment LLC acquired a new position in Academy Sports and Outdoors during the first quarter worth about $68,000. Kapitalo Investimentos Ltda bought a new stake in Academy Sports and Outdoors in the fourth quarter worth about $73,000. Finally, Your Advocates Ltd. LLP lifted its holdings in Academy Sports and Outdoors by 117.3% in the 2nd quarter. Your Advocates Ltd. LLP now owns 1,706 shares of the company’s stock valued at $91,000 after acquiring an additional 921 shares during the last quarter.

Academy Sports and Outdoors Company Profile

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.