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Analysts retain ‘Buy’ rating on Academy Sports and Outdoors Inc despite profit drop in Q1FY2023

Thu 15 Jun 23, 07:00 AM | Akanksha Vashisht

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Analysts maintained their ‘Buy’ rating on Academy Sports and Outdoors Inc. (NASDAQ: ASO) despite the company reporting a drop in earnings for Q1 2023.

Academy Sports and Outdoors is a retailer of sporting goods and outdoor recreation products. Some of the company’s products include clothing for the outdoors, backpacks, and luggage items and even water sports equipment. The company also sells fitness equipment as well as dog supplies.

Data available on Refinitiv suggests that the company has received a mean recommendation rating of 1.7 on a scale of one to five. Here, one represents a ‘Strong Buy’ and five represents a ‘Strong Sell’. Meanwhile, the consensus mean price target on the stock is US$ 68.21, which is 36.26% higher than its Wednesday’s closing price.

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