Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $7.00-$7.75 for the period, compared to the consensus estimate of $7.65. The company issued revenue guidance of $6.50 billion-$6.70 billion, compared to the consensus revenue estimate of $6.68 billion. Academy Sports and Outdoors also updated its FY24 guidance to $7.70-7.75 EPS.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on ASO shares. The Goldman Sachs Group increased their price target on Academy Sports and Outdoors from $65.00 to $72.00 and gave the company a buy rating in a research note on Friday, February 17th. UBS Group increased their price target on Academy Sports and Outdoors from $60.00 to $76.00 and gave the company a buy rating in a research note on Thursday, December 8th. Stephens raised their price objective on Academy Sports and Outdoors from $76.00 to $80.00 and gave the stock an overweight rating in a research note on Thursday, December 8th. Wedbush raised their target price on Academy Sports and Outdoors from $68.00 to $73.00 and gave the stock an outperform rating in a research report on Friday. Finally, Wells Fargo & Company raised their target price on Academy Sports and Outdoors from $70.00 to $75.00 and gave the stock an overweight rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $71.21.
Get Academy Sports and Outdoors alerts:Academy Sports and Outdoors Stock Performance
Shares of NASDAQ:ASO opened at $63.31 on Friday. The company's 50 day moving average price is $58.47 and its two-hundred day moving average price is $51.38. Academy Sports and Outdoors has a 12-month low of $25.10 and a 12-month high of $67.70. The firm has a market cap of $4.95 billion, a PE ratio of 8.44, a PEG ratio of 0.86 and a beta of 1.14. The company has a quick ratio of 0.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.36.
Academy Sports and Outdoors Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Shareholders of record on Thursday, March 23rd will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, March 22nd. This is a positive change from Academy Sports and Outdoors's previous quarterly dividend of $0.08. Academy Sports and Outdoors's dividend payout ratio is presently 4.00%.
Insiders Place Their Bets
In other Academy Sports and Outdoors news, SVP Manish Maini sold 45,000 shares of the stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $54.32, for a total transaction of $2,444,400.00. Following the transaction, the senior vice president now owns 102,639 shares in the company, valued at approximately $5,575,350.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 148,059 shares of company stock worth $8,428,292 in the last quarter. Corporate insiders own 3.51% of the company's stock.
Institutional Trading of Academy Sports and Outdoors
Large investors have recently made changes to their positions in the company. Cetera Advisors LLC acquired a new stake in shares of Academy Sports and Outdoors during the 4th quarter worth approximately $262,000. Evergreen Capital Management LLC acquired a new stake in shares of Academy Sports and Outdoors during the 4th quarter worth approximately $250,000. Baird Financial Group Inc. acquired a new stake in shares of Academy Sports and Outdoors during the 4th quarter worth approximately $248,000. Pathstone Family Office LLC acquired a new stake in shares of Academy Sports and Outdoors during the 4th quarter worth approximately $246,000. Finally, Point72 Middle East FZE acquired a new stake in shares of Academy Sports and Outdoors during the 4th quarter worth approximately $241,000. Institutional investors and hedge funds own 94.63% of the company's stock.
Academy Sports and Outdoors Company Profile
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Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational products retailer in the United States. The company sells coolers and drinkware, camping accessories, camping equipment, sunglasses, backpacks, and sports bags; marine equipment and fishing rods, reels, baits, and equipment; firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, optics, airguns, and hunting equipment; team sports equipment, including baseball, football, basketball, soccer, golf, racket sports, and volleyball; fitness equipment and accessories, and nutrition supplies; and patio furniture, outdoor cooking, wheeled goods, trampolines, playsets, watersports, and pet equipment, as well as electronics products, watches, consumables, batteries, etc.
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