Academy Sports and Outdoors (NASDAQ:ASO) Shares Up 7.5% After Strong Earnings

Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) were up 7.5% on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $52.64 and last traded at $52.4930. Approximately 2,450,532 shares changed hands during mid-day trading, an increase of 46% from the average daily volume of 1,675,766 shares. The stock had previously closed at $48.85.

The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.07. Academy Sports and Outdoors had a return on equity of 18.47% and a net margin of 6.21%.The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the company earned $0.98 EPS. Academy Sports and Outdoors’s revenue for the quarter was up 3.0% compared to the same quarter last year. Academy Sports and Outdoors has set its FY 2025 guidance at 5.650-6.150 EPS.

Academy Sports and Outdoors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Thursday, December 18th will be issued a $0.13 dividend. The ex-dividend date is Thursday, December 18th. This represents a $0.52 annualized dividend and a yield of 1.0%. Academy Sports and Outdoors’s payout ratio is 9.74%.

Wall Street Analyst Weigh In

ASO has been the topic of several recent analyst reports. Guggenheim reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Academy Sports and Outdoors in a research report on Monday, September 8th. Truist Financial increased their price objective on Academy Sports and Outdoors from $47.00 to $50.00 and gave the company a “hold” rating in a research report on Wednesday, September 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Academy Sports and Outdoors in a report on Monday, December 1st. Cowen restated a “hold” rating on shares of Academy Sports and Outdoors in a research note on Wednesday, September 3rd. Finally, Evercore ISI lifted their price target on shares of Academy Sports and Outdoors from $50.00 to $55.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 14th. Nine equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $58.37.

Institutional Investors Weigh In On Academy Sports and Outdoors

Several institutional investors have recently modified their holdings of ASO. Parkside Financial Bank & Trust boosted its holdings in shares of Academy Sports and Outdoors by 15.9% during the third quarter. Parkside Financial Bank & Trust now owns 1,708 shares of the company’s stock worth $85,000 after purchasing an additional 234 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Academy Sports and Outdoors by 32.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,025 shares of the company’s stock worth $51,000 after buying an additional 252 shares during the period. Tectonic Advisors LLC boosted its holdings in Academy Sports and Outdoors by 0.6% in the third quarter. Tectonic Advisors LLC now owns 45,288 shares of the company’s stock valued at $2,265,000 after purchasing an additional 286 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Academy Sports and Outdoors by 5.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,631 shares of the company’s stock valued at $252,000 after purchasing an additional 288 shares in the last quarter. Finally, Huntington National Bank raised its position in shares of Academy Sports and Outdoors by 47.3% in the 3rd quarter. Huntington National Bank now owns 1,015 shares of the company’s stock valued at $51,000 after purchasing an additional 326 shares in the last quarter.

Academy Sports and Outdoors Stock Performance

The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.33 and a current ratio of 1.64. The company has a market capitalization of $3.49 billion, a PE ratio of 9.81, a PEG ratio of 1.01 and a beta of 1.30. The company has a 50 day moving average price of $48.56 and a 200 day moving average price of $48.73.

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.