Vista Outdoor (VSTO) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Vista Outdoor (NYSE:VSTO) from a hold rating to a strong sell rating in a research report released on Thursday, Zacks.com reports.

According to Zacks, “Vista Outdoor Inc. develops, manufacture and distribute optics, accessories and eyewear. The Company operates in two segments: Shooting Sports and Outdoor Products. Its product consist of binoculars, laser rangefinders, riflescopes, trail cameras, archery accessories, blinds, decoys, game calls, gun care products, mounts, powder, reloading equipment, targets, target systems, safety and protective eyewear, fashion and sports eyewear. The company’s product portfolio include Bushnell(R), Primos(R), Bollè(R), Serengeti(R), Cèbè, RCBS(R), Hoppe’s(R), Uncle Mike’s(R), Gold Tip(R), Weaver(R) and Tasco(R). Vista Outdoor Inc. is headquartered in Utah. “

Several other research firms also recently weighed in on VSTO. B. Riley set a $13.00 target price on shares of Vista Outdoor and gave the stock a buy rating in a research note on Friday, May 10th. ValuEngine downgraded shares of Vista Outdoor from a hold rating to a sell rating in a research note on Monday, February 4th. Monness Crespi & Hardt upgraded shares of Vista Outdoor from a neutral rating to a buy rating and set a $12.00 target price for the company in a research note on Friday, May 10th. Roth Capital reiterated a neutral rating on shares of Vista Outdoor in a research note on Friday, February 8th. Finally, Cowen reiterated a hold rating and issued a $12.00 target price on shares of Vista Outdoor in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Vista Outdoor currently has an average rating of Hold and an average price target of $14.60.

NYSE VSTO opened at $9.08 on Thursday. Vista Outdoor has a 52-week low of $7.78 and a 52-week high of $19.41. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.96 and a quick ratio of 1.88. The stock has a market cap of $550.57 million, a P/E ratio of 64.86 and a beta of 0.11.

Vista Outdoor (NYSE:VSTO) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.12). Vista Outdoor had a positive return on equity of 0.89% and a negative net margin of 31.50%. The company had revenue of $515.34 million for the quarter, compared to analysts’ expectations of $503.17 million. During the same quarter last year, the business posted ($0.22) EPS. The business’s quarterly revenue was down 9.8% on a year-over-year basis. On average, equities research analysts anticipate that Vista Outdoor will post 0.3 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. BlueMountain Capital Management LLC bought a new position in shares of Vista Outdoor in the first quarter valued at approximately $72,000. BlueCrest Capital Management Ltd bought a new position in shares of Vista Outdoor in the first quarter valued at approximately $100,000. Contrarian Capital Management L.L.C. bought a new position in shares of Vista Outdoor in the first quarter valued at approximately $419,000. Morgan Stanley boosted its position in shares of Vista Outdoor by 178.7% in the first quarter. Morgan Stanley now owns 393,696 shares of the company’s stock valued at $3,154,000 after acquiring an additional 252,439 shares during the period. Finally, Ellington Management Group LLC bought a new position in shares of Vista Outdoor in the first quarter valued at approximately $521,000. Institutional investors own 96.55% of the company’s stock.

About Vista Outdoor

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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