Academy Sports and Outdoors, the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst Robert Ohmes from Bank of America Securities reiterated a Hold rating on the stock and has a $55.00 price target.
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Robert Ohmes’s rating is based on a combination of factors, including Academy Sports and Outdoors’ recent financial performance and future outlook. The company reported second-quarter earnings per share that fell short of expectations due to higher selling, general, and administrative expenses. Although there was a slight increase in comparable sales, it was primarily driven by higher average unit retail prices, while customer traffic declined.
Looking ahead, Ohmes anticipates that the company’s earnings per share for the fiscal year will be slightly lower than previously estimated. While there are positive developments such as the introduction of new brands and e-commerce initiatives, these are counterbalanced by uncertainties related to tariffs and macroeconomic conditions. Additionally, the competitive landscape and challenges faced by lower to middle-income consumers contribute to the cautious outlook. As a result, Ohmes maintains a Hold rating, reflecting a balanced view of potential risks and opportunities.
In another report released yesterday, TD Cowen also maintained a Hold rating on the stock with a $47.00 price target.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ASO in relation to earlier this year.