Vista Outdoor (VSTO) Trading 11.8% Higher on Strong Earnings

Shares of Vista Outdoor Inc (NYSE:VSTO) traded up 11.8% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $14.76 and last traded at $13.97. 1,528,291 shares changed hands during mid-day trading, an increase of 104% from the average session volume of 749,186 shares. The stock had previously closed at $12.50.

The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $546.60 million for the quarter, compared to the consensus estimate of $541.20 million. Vista Outdoor had a negative net margin of 5.70% and a positive return on equity of 1.22%. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS.

A number of research firms have commented on VSTO. Zacks Investment Research raised shares of Vista Outdoor from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, August 15th. Roth Capital set a $19.00 target price on shares of Vista Outdoor and gave the company a “hold” rating in a research report on Saturday, August 11th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $16.70.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. NumerixS Investment Technologies Inc increased its position in Vista Outdoor by 34.9% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 11,200 shares of the company’s stock valued at $177,000 after purchasing an additional 2,898 shares during the period. US Bancorp DE increased its position in Vista Outdoor by 24.9% during the 3rd quarter. US Bancorp DE now owns 24,680 shares of the company’s stock valued at $442,000 after purchasing an additional 4,920 shares during the period. Legal & General Group Plc increased its position in Vista Outdoor by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 168,532 shares of the company’s stock valued at $2,625,000 after purchasing an additional 6,247 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in Vista Outdoor by 140.4% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,441 shares of the company’s stock valued at $187,000 after purchasing an additional 6,681 shares during the period. Finally, Principal Financial Group Inc. increased its position in Vista Outdoor by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 439,378 shares of the company’s stock valued at $7,171,000 after purchasing an additional 9,293 shares during the period. 96.80% of the stock is currently owned by institutional investors and hedge funds.

The company has a current ratio of 2.61, a quick ratio of 1.58 and a debt-to-equity ratio of 0.72. The stock has a market cap of $745.57 million, a P/E ratio of 28.48 and a beta of -0.20.

Vista Outdoor Company Profile (NYSE:VSTO)

Vista Outdoor Inc designs, manufactures, and markets consumer products for outdoor sports and recreation markets in the United States and internationally. The company operates through Outdoor Products and Shooting Sports segments. The Outdoor Products segment offer sports products for action sports, including helmets, goggles, and accessories for cycling, snow, action, and power sports; archery/hunting accessories, such as hunting arrows, game calls, hunting blinds, game cameras, and waterfowl decoys; outdoor cooking solutions for camping; eyewear and sport protection products, including safety and protective eyewear, and fashion and sports eyewear; golf products, such as laser rangefinders; hydration products comprising hydration packs and water bottles; optical products, such as binoculars, riflescopes, and telescopes; shooting accessories, including reloading equipment, clay targets, and premium gun care products; tactical products, such as holsters, duty gear, bags, and packs; and water sports products, including stand up paddle boards.

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