American Outdoor Brands (NASDAQ:AOBC) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of American Outdoor Brands (NASDAQ:AOBC) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, Zacks.com reports. They currently have $10.00 target price on the stock.

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. “

Several other equities analysts also recently issued reports on the stock. Wedbush set a $190.00 price objective on shares of Home Depot and gave the company a hold rating in a research note on Wednesday, May 22nd. ValuEngine downgraded shares of Yirendai from a sell rating to a strong sell rating in a research note on Wednesday, June 26th. BidaskClub downgraded shares of Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. Finally, Cowen restated a hold rating and issued a $12.00 price objective on shares of American Outdoor Brands in a research note on Wednesday, June 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. American Outdoor Brands currently has an average rating of Hold and an average price target of $12.40.

Shares of AOBC stock opened at $9.50 on Tuesday. The company has a current ratio of 2.68, a quick ratio of 1.21 and a debt-to-equity ratio of 0.44. The stock’s fifty day moving average price is $8.87. The firm has a market capitalization of $520.62 million, a P/E ratio of 11.45 and a beta of 0.15. American Outdoor Brands has a 12 month low of $8.19 and a 12 month high of $15.95.

American Outdoor Brands (NASDAQ:AOBC) last issued its earnings results on Wednesday, June 19th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. American Outdoor Brands had a net margin of 2.88% and a return on equity of 10.55%. The firm had revenue of $175.73 million during the quarter, compared to the consensus estimate of $168.99 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts expect that American Outdoor Brands will post 0.81 earnings per share for the current fiscal year.

In other news, Director Michael F. Golden sold 20,000 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $10.01, for a total transaction of $200,200.00. Following the completion of the sale, the director now owns 256,432 shares in the company, valued at $2,566,884.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael F. Golden sold 18,000 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $10.01, for a total transaction of $180,180.00. Following the sale, the director now owns 256,432 shares of the company’s stock, valued at approximately $2,566,884.32. The disclosure for this sale can be found here. Corporate insiders own 2.47% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors purchased a new position in shares of American Outdoor Brands during the 4th quarter worth approximately $29,000. Pearl River Capital LLC increased its stake in shares of American Outdoor Brands by 196.9% during the 1st quarter. Pearl River Capital LLC now owns 4,750 shares of the company’s stock worth $44,000 after purchasing an additional 3,150 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of American Outdoor Brands by 314.3% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 16,177 shares of the company’s stock worth $208,000 after purchasing an additional 12,272 shares in the last quarter. Cetera Advisor Networks LLC increased its stake in shares of American Outdoor Brands by 3.2% during the 1st quarter. Cetera Advisor Networks LLC now owns 34,686 shares of the company’s stock worth $326,000 after purchasing an additional 1,086 shares in the last quarter. Finally, Private Advisors LLC purchased a new position in shares of American Outdoor Brands during the 1st quarter worth approximately $370,000. Institutional investors and hedge funds own 66.63% 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.

Featured Story: What is a blue-chip stock?

Get a free copy of the Zacks research report on American Outdoor Brands (AOBC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for American Outdoor Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Outdoor Brands and related companies with MarketBeat.com's FREE daily email newsletter.