Short-term interest in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) rises 38.3%

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Academy Sports and Outdoors, Inc. (NASDAQ:ASO – Get Rating) was the target of a surge in short-term interest in June. As of June 15, there was short interest totaling 12,280,000 shares, an increase of 38.3% from the total of 8,880,000 shares as of May 31. Based on an average daily trading volume of 2,820,000 shares, the days-to-cover ratio is currently 4.4 days. Currently, 16.2% of the company’s shares are sold short.

Shares of Academy Sports and Outdoors opened at $34.99 on Friday. The stock’s 50-day simple moving average is $35.62 and its 200-day simple moving average is $37.01. Academy Sports and Outdoors has a 52-week minimum of $25.10 and a 52-week maximum of $51.08. The company has a market capitalization of $2.98 billion, a price/earnings ratio of 5.02, a PEG ratio of 0.59 and a beta of 1.65. The company has a quick ratio of 0.44, a current ratio of 1.56 and a debt ratio of 0.45.

Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) last reported quarterly earnings data on Tuesday, June 7. The company reported EPS of $1.73 for the quarter, beating the consensus estimate of $1.41 by $0.32. Academy Sports and Outdoors had a return on equity of 47.24% and a net margin of 9.66%. The company posted revenue of $1.47 billion for the quarter, versus a consensus estimate of $1.45 billion. In the same period a year earlier, the company had earned earnings per share of $1.89. The company’s revenue was down 7.1% year over year. On average, stock analysts expect Academy Sports and Outdoors to post earnings per share of 7.06 for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 14. Investors of record on Thursday, June 16 will receive a dividend of $0.075. The ex-date of this dividend is Wednesday, June 15. This represents a dividend of $0.30 on an annualized basis and a dividend yield of 0.86%. The Academy Sports and Outdoors payout ratio is 4.30%.

Several research companies have weighed in on ASO. Truist Financial began covering Academy Sports and Outdoors in a Wednesday May 11 report. They issued a “buy” rating and a price target of $53.00 for the company. Stephens raised his price target on Academy Sports and Outdoors from $70.00 to $72.00 and gave the stock an “overweight” rating in a Wednesday, June 8 report. UBS Group lowered its target price on Academy Sports and Outdoors to $55.00 in a Thursday, June 9 research note. Goldman Sachs Group lowered its price target on Academy Sports and Outdoors from $61.00 to $49.00 and set a “buy” rating for the company in a Wednesday May 4 research note. Finally, Loop Capital raised its target price on Academy Sports and Outdoors from $43.00 to $50.00 in a Wednesday, March 30 research note. Twelve investment analysts have rated the stock with a buy rating. Based on data from MarketBeat.com, Academy Sports and Outdoors currently has an average rating of “Buy” and a consensus price target of $55.08.

A number of institutional investors have recently bought and sold shares of the company. Bailard Inc. increased its position in Academy Sports and Outdoors by 1.8% during the fourth quarter. Bailard Inc. now owns 16,900 shares of the company worth $742,000 after purchasing an additional 300 shares during the period. Meritage Portfolio Management increased its position in Academy Sports and Outdoors by 5.4% during the 4th quarter. Meritage Investment Management now owns 6,307 shares of the company worth $277,000 after purchasing 323 additional shares during the period. Captrust Financial Advisors increased its position in Academy Sports and Outdoors by 55.0% during the 1st quarter. Captrust Financial Advisors now owns 1,006 shares of the company worth $40,000 after purchasing 357 additional shares during the period. Capital Investment Advisory Services LLC increased its position in Academy Sports and Outdoors by 8.2% in Q1. Capital Investment Advisory Services LLC now owns 5,300 shares of the company worth $209,000 after purchasing an additional 400 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in Academy Sports and Outdoors by 2.7% in the 1st quarter. Teacher Retirement System of Texas now owns 17,136 shares of the company worth $675,000 after acquiring 458 additional shares in the last quarter. 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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