Outdoor (NASDAQ:POWW) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Outdoor (NASDAQ:POWW) from a hold rating to a strong-buy rating in a research note released on Monday morning,Zacks reports.

A number of other research analysts have also commented on POWW. Roth Capital restated a “buy” rating on shares of Outdoor in a research note on Tuesday, August 11th. Weiss Ratings upgraded shares of Outdoor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $2.75.

Outdoor Stock Up 1.3%

NASDAQ POWW opened at $2.31 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.74 and a current ratio of 4.74. The firm has a 50-day simple moving average of $2.26 and a 200 day simple moving average of $2.12. Outdoor has a twelve month low of $1.60 and a twelve month high of $2.67. The stock has a market cap of $268.10 million, a PE ratio of 77.03 and a beta of 0.98.

Outdoor (NASDAQ:POWW) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.02 earnings per share (EPS) for the quarter. Outdoor had a return on equity of 1.90% and a net margin of 12.08%. The firm had revenue of $14.48 million for the quarter, compared to analyst estimates of $13.02 million. On average, research analysts forecast that Outdoor will post 0.04 EPS for the current year.

Hedge Funds Weigh In On Outdoor

Several institutional investors have recently bought and sold shares of the business. R Squared Ltd boosted its stake in Outdoor by 8.1% in the third quarter. R Squared Ltd now owns 81,012 shares of the company’s stock worth $182,000 after purchasing an additional 6,103 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Outdoor in the second quarter valued at $25,000. StoneX Group Inc. bought a new position in shares of Outdoor in the third quarter valued at about $34,000. Royal Bank of Canada raised its holdings in shares of Outdoor by 626.3% in the first quarter. Royal Bank of Canada now owns 18,055 shares of the company’s stock valued at $36,000 after buying an additional 15,569 shares during the last quarter. Finally, Beacon Pointe Advisors LLC bought a new position in shares of Outdoor in the second quarter valued at about $55,000. Institutional investors own 26.40% of the company’s stock.

Outdoor Company Profile

Outdoor, formerly known as AMMO, Inc., is an outdoor-focused company serving the firearms, hunting, shooting and broader recreation markets. Its principal business is GunBroker.com, an online marketplace that connects buyers and sellers of firearms, ammunition, accessories, sporting goods and related outdoor products, subject to applicable laws and regulations. The company’s marketplace provides product listings, transaction services and related digital tools for its community of consumers, dealers and manufacturers.