Creative Planning has significantly increased its investment in Academy Sports and Outdoors, Inc. (NASDAQ: ASO), raising its position by 37.8% during the second quarter of 2023. According to recent disclosures filed with the Securities and Exchange Commission, the firm now holds 38,816 shares after acquiring an additional 10,653 shares within the quarter. This stake is valued at approximately $1,739,000.
Several other investment firms have also adjusted their positions in Academy Sports and Outdoors recently. Notably, Huntington National Bank expanded its holdings by 214.6% during the same period, bringing its total to 689 shares worth $31,000 after purchasing an additional 470 shares. Meanwhile, Northwestern Mutual Wealth Management Co. entered the fray, acquiring a new position in the company valued at $64,000.
US Bancorp DE also increased its stake by 280.0%, owning 1,657 shares valued at $76,000 after buying 1,221 shares. Strs Ohio invested around $128,000 in a newly acquired stake during the first quarter. Finally, Cetera Trust Company N.A. lifted its holdings by 22.1% in the second quarter, now owning 3,345 shares valued at $150,000.
Analyst Ratings and Market Performance
Academy Sports and Outdoors has attracted attention from research analysts, leading to a variety of ratings. On September 3, Citigroup downgraded the company from a “buy” to a “neutral” rating, reducing its target price from $55.00 to $50.00. In contrast, Monness Crespi & Hardt initiated coverage with a “buy” rating and a target price of $65.00.
On October 14, Evercore ISI raised its target price from $50.00 to $55.00 while maintaining an “in-line” rating. In the same vein, Truist Financial adjusted its price target from $47.00 to $50.00 and assigned a “hold” rating. UBS Group has also reiterated a “neutral” rating with a price objective set at $52.00. Overall, nine analysts have given Academy Sports a “buy” rating, while eleven have rated it as a “hold,” according to data from MarketBeat.
Financial Overview and Future Outlook
As of Thursday, shares of Academy Sports and Outdoors opened at $48.22. The company boasts a market capitalization of $3.21 billion and a price-to-earnings ratio of 9.03. The stock’s fifty-day moving average stands at $48.44, while the two-hundred-day moving average is $48.47. Over the past year, the stock has fluctuated between a low of $33.34 and a high of $61.25.
The company recently reported its earnings on September 2, revealing $1.82 earnings per share (EPS) for the quarter, falling short of analysts’ consensus estimates of $2.14 by $0.32. Despite this, Academy Sports observed a revenue increase of 3.3% year-over-year, totaling $1.60 billion, although it was slightly below the expected $1.61 billion. The return on equity was 18.47%, with a net margin of 6.21%.
Looking ahead, Academy Sports has set its fiscal year 2025 guidance at an EPS range of $5.600 to $6.30. Analysts anticipate the company will post an EPS of $5.59 for the current fiscal year.
In addition to its stock performance, Academy Sports and Outdoors has announced a quarterly dividend of $0.13 per share, which was paid on September 1. Shareholders on record as of September 11 received a total annualized dividend of $0.52, reflecting a yield of 1.1% and a payout ratio of 9.74%.
Academy Sports and Outdoors, Inc., through its subsidiaries, operates as a prominent retailer of sporting goods and outdoor recreational products in the United States, including camping, fishing, and hunting equipment.
