Morgan Stanley Begins Academy Sports and Outdoors Coverage (NASDAQ:ASO)

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Morgan Stanley equity research analysts assumed hedging of stocks of Academy Sports and Outdoors (NASDAQ:ASO – Get a Grade) in a research report published on Monday, reports The Fly. The company has set an “equal weight” rating on the stock.

Several other equity research analysts also weighed in on the stock. Stephens raised his price target on Academy Sports and Outdoors stock from $70.00 to $72.00 and gave the stock an “overweight” rating in a Wednesday, June 8 report. Goldman Sachs Group lowered its price target on Academy Sports and Outdoors shares from $61.00 to $49.00 and set a “buy” rating on the stock in a Wednesday, May 4, report. Truist Financial launched coverage on Academy Sports and Outdoors stock in a Wednesday, May 11 report. They issued a “buy” rating and a target price of $53.00 on the stock. Finally, UBS Group lowered its target price on shares of Academy Sports and Outdoors to $55.00 in a Thursday, June 9 report. One equity research analyst gave the stock a hold rating and twelve gave the company’s stock a buy rating. According to MarketBeat, Academy Sports and Outdoors currently has a consensus rating of “Moderate Buy” and an average price target of $55.08.

Academy Sports and Outdoors Trading up 1.1%

ASO shares opened at $47.00 on Monday. Academy Sports and Outdoors has a 52-week minimum of $25.10 and a 52-week maximum of $51.08. The stock has a market capitalization of $4.00 billion, a price/earnings ratio of 6.74, a P/E/G ratio of 0.72 and a beta of 1.39. The company has a debt ratio of 0.45, a quick ratio of 0.44 and a current ratio of 1.56. The company has a fifty-day moving average of $39.18 and a 200-day moving average of $37.25.

Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) last reported quarterly earnings data on Tuesday, June 7. The company reported earnings per share (EPS) of $1.73 for the quarter, beating consensus analyst estimates of $1.40 by $0.33. Academy Sports and Outdoors had a net margin of 9.66% and a return on equity of 47.24%. The company posted revenue of $1.47 billion in the quarter, versus $1.45 billion expected by analysts. In the same quarter a year earlier, the company posted EPS of $1.89. The company’s revenue was down 7.1% year over year. On average, stock research analysts expect Academy Sports and Outdoors to post earnings per share of 7.05 for the current fiscal year.

Institutional entries and exits

Several hedge funds have recently changed their holdings in the company. BlackRock Inc. increased its stake in shares of Academy Sports and Outdoors by 124.0% in Q1. BlackRock Inc. now owns 13,562,648 shares of the company valued at $534,370,000 after purchasing an additional 7,507,589 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Academy Sports and Outdoors by 11.3% in Q1. Vanguard Group Inc. now owns 9,462,337 shares of the company valued at $372,817,000 after purchasing an additional 958,800 shares in the last quarter. State Street Corp increased its stake in shares of Academy Sports and Outdoors by 73.0% in Q1. State Street Corp now owns 2,834,137 shares of the company valued at $111,872,000 after purchasing an additional 1,196,076 shares in the last quarter. Hood River Capital Management LLC increased its position in shares of Academy Sports and Outdoors by 3.7% in the first quarter. Hood River Capital Management LLC now owns 1,626,231 shares of the company valued at $64,074,000 after acquiring an additional 58,696 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Academy Sports and Outdoors by 11.8% in the 1st quarter. Bank of America Corp DE now owns 1,394,063 shares of the company valued at $54,926,000 after acquiring an additional 146,938 shares during the period. Institutional investors hold 89.94% of the company’s shares.

About the Sports and Outdoors Academy

(Get a 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 glasses, camping accessories, camping gear, sunglasses, backpacks and sports bags. marine equipment and fishing rods, reels, bait and equipment; firearms, ammunition, archery and archery equipment, camouflage clothing, waders, shooting accessories, optics, airguns and hunting equipment; team sports equipment, including baseball, football, basketball, soccer, golf, racquet sports and volleyball; fitness equipment and accessories and nutritional supplies; and patio furniture, outdoor kitchen, rolling items, trampolines, play sets, water sports and pet equipment, as well as electronics, watches, consumables, batteries, etc.

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Analyst Recommendations for Academy Sports and Outdoors (NASDAQ: ASO)

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