Academy Sports and Outdoors (NASDAQ:ASO) Releases FY24 Earnings Guidance

Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $7.70-7.75 for the period, compared to the consensus EPS estimate of $7.79. The company issued revenue guidance of $6.5-6.7 billion, compared to the consensus revenue estimate of $6.72 billion. Academy Sports and Outdoors also updated its FY 2023 guidance to $7.00-$7.75 EPS.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Cowen assumed coverage on shares of Academy Sports and Outdoors in a research report on Thursday, February 16th. They issued an outperform rating and a $72.00 price target for the company. Morgan Stanley increased their target price on shares of Academy Sports and Outdoors from $58.00 to $70.00 and gave the stock an equal weight rating in a research report on Friday. Wells Fargo & Company raised their price target on shares of Academy Sports and Outdoors from $70.00 to $75.00 and gave the company an overweight rating in a report on Friday. Wedbush raised their target price on shares of Academy Sports and Outdoors from $68.00 to $73.00 and gave the company an outperform rating in a research note on Friday. Finally, Loop Capital raised their target price on shares of Academy Sports and Outdoors from $65.00 to $73.00 in a research note on Friday. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $71.21.

Academy Sports and Outdoors Stock Performance

Shares of ASO stock opened at $63.31 on Friday. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 8.92, a price-to-earnings-growth ratio of 0.80 and a beta of 1.14. Academy Sports and Outdoors has a 52 week low of $25.10 and a 52 week high of $67.70. The company has a quick ratio of 0.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $58.47 and a 200-day moving average of $51.33.

Academy Sports and Outdoors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 13th. Shareholders of record on Thursday, March 23rd will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.57%. This is an increase from Academy Sports and Outdoors’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, March 22nd. Academy Sports and Outdoors’s payout ratio is currently 4.23%.

Insiders Place Their Bets

In other news, SVP Manish Maini sold 102,328 shares of Academy Sports and Outdoors stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $58.04, for a total transaction of $5,939,117.12. Following the sale, the senior vice president now directly owns 103,929 shares in the company, valued at approximately $6,032,039.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 148,059 shares of company stock valued at $8,428,292 in the last three months. 3.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Captrust Financial Advisors lifted its position in Academy Sports and Outdoors by 55.0% in the first quarter. Captrust Financial Advisors now owns 1,006 shares of the company’s stock valued at $40,000 after purchasing an additional 357 shares during the last quarter. Fortis Capital Advisors LLC bought a new position in shares of Academy Sports and Outdoors during the fourth quarter valued at approximately $103,000. Retirement Group LLC bought a new position in shares of Academy Sports and Outdoors during the fourth quarter valued at approximately $103,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in shares of Academy Sports and Outdoors by 1,620.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,440 shares of the company’s stock valued at $135,000 after acquiring an additional 3,240 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Academy Sports and Outdoors by 42.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,798 shares of the company’s stock valued at $190,000 after acquiring an additional 1,419 shares in the last quarter. Hedge funds and other institutional investors own 94.63% of the company’s stock.

About Academy Sports and Outdoors

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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.