Evercore ISI analyst Greg Melich raised the firm’s price target on Academy Sports to $78 from $75 and keeps an Outperform rating on the shares. With a positive December reverting back to negative into 2024, guidance “became the market focus” and the company landed an EPS midpoint of $6.45, effectively 10% below Street expectations, the analyst noted. However, along with the earnings guidedown, management reiterated long term goals with the theme of a “challenged consumer, not challenged strategy,” the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ASO:
- ASO Earnings: Academy Sports and Outdoors Slides on Q4 Miss
- Academy Sports Q4 Supplemental Presentation Released
- Academy Sports sees 2024 EPS $5.90-$6.90 vs. $6.70 last year
- Academy Sports board increases quarterly dividend 22% to 11c per share
- Academy Sports reports Q4 adjusted EPS $2.21, consensus $2.30