M Squared Capital’s Matthew McClintock shared a bullish thesis on Academy Sports and Outdoors, Inc. ASO’s share price was $46.36 on September 16th, with trailing and forward P/E ratios of 8.73 and 7.94. The company reported positive Q2 sales growth, driven by pricing and improved trends in various categories.

Despite recent earnings misses, ASO saw positive back-to-school sales and acknowledged inflationary pressures. Premium brands like Nike and Jordan drove double-digit growth, with plans for further expansion. Operational improvements, including inventory updates and e-commerce growth, position the company for continued success. The stock has depreciated 7% since previous coverage, but long-term prospects remain strong.

Read more at Yahoo Finance: Academy Sports and Outdoors, Inc. (ASO): A Bull Case Theory