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 cut by investment analysts at Wells Fargo & Company from $83.00 to $80.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 37.58% from the stock’s current price.

Other analysts also recently issued reports about the stock. Evercore ISI dropped their price target on shares of 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. TD Cowen dropped their price target on shares of Academy Sports and Outdoors from $86.00 to $82.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price target on shares of Academy Sports and Outdoors from $55.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Wedbush restated an “outperform” rating and set a $80.00 price target on shares of Academy Sports and Outdoors in a research report on Monday, April 1st. Finally, Morgan Stanley dropped their target price on shares of Academy Sports and Outdoors from $70.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, March 22nd. Two investment 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 stock has an average rating of “Moderate Buy” and an average price target of $73.82.

Academy Sports and Outdoors Stock Performance

NASDAQ:ASO traded down $0.91 during mid-day trading on Thursday, hitting $58.15. The stock had a trading volume of 68,522 shares, compared to its average volume of 1,337,973. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 8.65, a P/E/G ratio of 0.86 and a beta of 1.35. The company has a 50 day simple moving average of $66.55 and a 200-day simple moving average of $59.78. Academy Sports and Outdoors has a 52 week low of $42.83 and a 52 week high of $75.73. The company has a current ratio of 1.87, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25.

Insiders Place Their Bets

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of Academy Sports and Outdoors stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $60.00, for a total transaction of $72,000.00. Following the transaction, the director now directly owns 7,870 shares in the company, valued at $472,200. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.56% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Academy Sports and Outdoors during the fourth quarter worth about $47,768,000. Point72 Asset Management L.P. lifted its stake in Academy Sports and Outdoors by 36.6% in the 4th quarter. Point72 Asset Management L.P. now owns 2,089,067 shares of the company’s stock valued at $137,878,000 after acquiring an additional 559,414 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Academy Sports and Outdoors in the 4th quarter valued at approximately $25,933,000. LSV Asset Management lifted its stake in Academy Sports and Outdoors by 28.4% in the 4th quarter. LSV Asset Management now owns 1,652,541 shares of the company’s stock valued at $109,068,000 after acquiring an additional 365,855 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Academy Sports and Outdoors by 953.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 403,467 shares of the company’s stock valued at $26,629,000 after acquiring an additional 365,168 shares in the last quarter.

About Academy Sports and Outdoors

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.