Wells Fargo & Company Cuts Academy Sports and Outdoors (NASDAQ:ASO) Price Target to $80.00

Academy Sports and Outdoors (NASDAQ:ASO) had its price target reduced by Wells Fargo & Company from $83.00 to $80.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 37.58% from the company’s previous close.

A number of other analysts have also recently commented on the company. Evercore ISI dropped their price target on Academy Sports and Outdoors from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. Truist Financial reiterated a “buy” rating and issued a $77.00 price objective on shares of Academy Sports and Outdoors in a report on Tuesday, March 19th. Telsey Advisory Group reduced their target price on shares of Academy Sports and Outdoors from $83.00 to $75.00 and set an “outperform” rating for the company in a report on Thursday, March 21st. B. Riley reissued a “buy” rating and issued a $72.00 price objective (up from $65.00) on shares of Academy Sports and Outdoors in a research note on Monday, March 25th. Finally, Robert W. Baird increased their price objective on shares of Academy Sports and Outdoors from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.82.

Academy Sports and Outdoors Stock Down 1.5 %

ASO traded down $0.91 during midday trading on Thursday, reaching $58.15. The company’s stock had a trading volume of 68,522 shares, compared to its average volume of 1,337,973. The company has a current ratio of 1.87, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The stock’s 50-day moving average is $66.55 and its 200-day moving average is $59.78. Academy Sports and Outdoors has a 1 year low of $42.83 and a 1 year high of $75.73. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 0.86 and a beta of 1.35.

Insider Activity

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $60.00, for a total value of $72,000.00. Following the completion of the transaction, the director now owns 7,870 shares in the company, valued at $472,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.56% of the company’s stock.

Institutional Trading of Academy Sports and Outdoors

Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in shares of Academy Sports and Outdoors by 23.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 370,715 shares of the company’s stock valued at $24,467,000 after purchasing an additional 70,438 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Academy Sports and Outdoors in the fourth quarter worth $1,842,000. Vaughan Nelson Investment Management L.P. bought a new position in Academy Sports and Outdoors during the fourth quarter valued at about $25,933,000. Verity Asset Management Inc. boosted its stake in Academy Sports and Outdoors by 53.2% during the third quarter. Verity Asset Management Inc. now owns 23,958 shares of the company’s stock valued at $1,132,000 after buying an additional 8,316 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Academy Sports and Outdoors by 19.2% during the third quarter. AQR Capital Management LLC now owns 116,400 shares of the company’s stock valued at $5,502,000 after buying an additional 18,736 shares in the last quarter.

Academy Sports and Outdoors Company Profile

Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational retailer in the United States. The company outdoor division comprises camping products, such as coolers and drinkware, and camping accessories and equipment,; fishing products, including marine equipment and fishing rods, reels, and baits and equipment; and hunting products, which includes firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, gun safes, optics, airguns, and hunting equipment.