Zacks Investment Research cut shares of American Outdoor Brands (NASDAQ:AOBC) from a buy rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “American Outdoor Brands Corporation is a manufacturer and seller of firearms and accessory products for the shooting, hunting and outdoor enthusiast. The company’s product comprises pistols, revolvers, rifles, guns, handcuffs and firearm-related products and accessories. It sells its products under the brand name Smith & Wesson, M&P, Thompson/Centre and Performance Centre. American Outdoor Brands Corporation, formerly known as Smith & Wesson Holding Corporation, is based in Springfield, Massachusetts. “
A number of other equities analysts also recently issued reports on AOBC. BidaskClub downgraded shares of American Outdoor Brands from a buy rating to a hold rating in a research note on Thursday, July 12th. ValuEngine downgraded shares of American Outdoor Brands from a hold rating to a sell rating in a research note on Saturday, July 28th. Cowen reiterated a hold rating and set a $12.00 price objective on shares of American Outdoor Brands in a research note on Friday, August 31st. Lake Street Capital reiterated a buy rating and set a $17.00 price objective on shares of American Outdoor Brands in a research note on Friday, August 31st. Finally, Wedbush set a $15.00 target price on shares of American Outdoor Brands and gave the company a buy rating in a research note on Saturday, September 1st. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $14.60.
NASDAQ AOBC opened at $13.70 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 2.60. American Outdoor Brands has a 52-week low of $8.32 and a 52-week high of $15.95. The company has a market cap of $735.34 million, a PE ratio of 29.78 and a beta of 0.14.
American Outdoor Brands (NASDAQ:AOBC) last released its quarterly earnings data on Thursday, August 30th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.09. American Outdoor Brands had a net margin of 4.85% and a return on equity of 8.67%. The firm had revenue of $138.83 million for the quarter, compared to the consensus estimate of $138.00 million. On average, equities analysts predict that American Outdoor Brands will post 0.67 earnings per share for the current year.
In other American Outdoor Brands news, Director John B. Furman sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $14.50, for a total value of $145,000.00. Following the completion of the sale, the director now directly owns 32,834 shares in the company, valued at $476,093. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert H. Brust bought 4,240 shares of the stock in a transaction on Thursday, September 6th. The stock was purchased at an average price of $14.83 per share, with a total value of $62,879.20. Following the completion of the purchase, the director now owns 12,366 shares of the company’s stock, valued at $183,387.78. The disclosure for this purchase can be found here. 2.47% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in American Outdoor Brands by 44.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,444,518 shares of the company’s stock valued at $29,409,000 after acquiring an additional 751,236 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of American Outdoor Brands during the second quarter worth $16,241,000. Point72 Asset Management L.P. lifted its stake in shares of American Outdoor Brands by 544.5% during the second quarter. Point72 Asset Management L.P. now owns 805,600 shares of the company’s stock worth $9,691,000 after buying an additional 680,600 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of American Outdoor Brands by 16.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 592,568 shares of the company’s stock worth $7,129,000 after buying an additional 85,813 shares during the period. Finally, Davidson Kempner Capital Management LP acquired a new stake in shares of American Outdoor Brands during the second quarter worth $6,755,000. Institutional investors own 63.10% of the company’s stock.
About American Outdoor Brands
American Outdoor Brands Corporation designs, manufactures, and sells firearms worldwide. The company's Firearms segment offers handguns, long guns, handcuffs, suppressors, and other firearm-related products under the Smith & Wesson, M&P, Performance Center, Gemtech, and Thompson/Center Arms brands.
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