Academy Sports and Outdoors (NASDAQ:ASO) Releases Quarterly Earnings Results, Beats Expectations By $1.05 EPS

Academy Sports and Outdoors (NASDAQ:ASO) released its quarterly earnings data on Monday. The company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $1.05, MarketWatch Earnings reports. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.51 billion. The firm’s quarterly revenue was up 39.1% on a year-over-year basis.

Shares of NASDAQ ASO traded up $0.51 during trading on Wednesday, hitting $40.16. 44,916 shares of the company traded hands, compared to its average volume of 2,034,800. The company has a market cap of $3.77 billion and a price-to-earnings ratio of 10.43. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.21 and a quick ratio of 0.36. The stock has a 50-day moving average of $33.04. Academy Sports and Outdoors has a 1 year low of $12.05 and a 1 year high of $40.48.

ASO has been the topic of several recent research reports. Stephens boosted their price objective on shares of Academy Sports and Outdoors from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday. Credit Suisse Group upped their target price on Academy Sports and Outdoors from $39.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on Academy Sports and Outdoors from $40.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday. Loop Capital raised their price target on shares of Academy Sports and Outdoors from $31.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Zacks Investment Research raised shares of Academy Sports and Outdoors from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, March 24th. Nine equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of $33.38.

In related news, Director William S. Simon sold 31,007 shares of the stock in a transaction that occurred on Monday, May 17th. The shares were sold at an average price of $35.30, for a total transaction of $1,094,547.10. Following the completion of the sale, the director now owns 8,782 shares of the company’s stock, valued at approximately $310,004.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Kkr Group Partnership L.P. sold 13,100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $30.96, for a total transaction of $405,576,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,163,741 shares of company stock valued at $634,733,291. Insiders own 1.83% of the company’s stock.

About Academy Sports and Outdoors

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; baseball, football, basketball, soccer, golf, racket sports, volleyball, fitness equipment, fitness accessories, and nutrition; and patio equipment, outdoor cooking, wheeled goods, trampolines, play sets, watersports, pet equipment, electronics, and watches.

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