American Outdoor Brands Corporation (NASDAQ:AOBC) Cut to Buy at Vetr Inc.

Vetr downgraded shares of American Outdoor Brands Corporation (NASDAQ:AOBC) from a strong-buy rating to a buy rating in a report published on Wednesday morning. Vetr currently has $23.50 target price on the stock.

Several other research analysts have also issued reports on the company. Forward View reaffirmed a hold rating on shares of American Outdoor Brands Corporation in a research report on Wednesday, July 5th. Jefferies Group LLC reaffirmed a hold rating and set a $20.00 target price on shares of American Outdoor Brands Corporation in a research report on Friday, July 7th. Zacks Investment Research raised American Outdoor Brands Corporation from a sell rating to a hold rating in a research report on Tuesday, July 4th. ValuEngine lowered American Outdoor Brands Corporation from a buy rating to a hold rating in a research report on Tuesday, June 27th. Finally, Cowen and Company upped their target price on American Outdoor Brands Corporation from $24.00 to $27.00 and gave the company an outperform rating in a research report on Friday, June 30th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $23.39.

Shares of American Outdoor Brands Corporation (NASDAQ AOBC) traded up 1.6910% during trading on Wednesday, hitting $21.6907. The stock had a trading volume of 488,321 shares. The company has a market cap of $1.17 billion, a P/E ratio of 9.6403 and a beta of 0.04. The stock has a 50-day moving average price of $23.29 and a 200 day moving average price of $21.17. American Outdoor Brands Corporation has a 12 month low of $17.50 and a 12 month high of $31.19.

American Outdoor Brands Corporation (NASDAQ:AOBC) last issued its quarterly earnings data on Thursday, June 29th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.19. The firm had revenue of $229.20 million during the quarter, compared to analysts’ expectations of $210.82 million. American Outdoor Brands Corporation had a return on equity of 37.76% and a net margin of 13.87%. American Outdoor Brands Corporation’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts expect that American Outdoor Brands Corporation will post $1.56 EPS for the current fiscal year.

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In related news, Director Robert L. Scott sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the director now directly owns 57,448 shares of the company’s stock, valued at $1,378,752. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.94% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of AOBC. Bank of Montreal Can bought a new stake in American Outdoor Brands Corporation during the first quarter valued at approximately $6,820,000. Canada Pension Plan Investment Board bought a new stake in American Outdoor Brands Corporation during the first quarter valued at approximately $636,000. Skylands Capital LLC bought a new stake in American Outdoor Brands Corporation during the first quarter valued at approximately $2,433,000. USA Mutuals Advisors Inc. bought a new stake in American Outdoor Brands Corporation during the first quarter valued at approximately $9,905,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in American Outdoor Brands Corporation during the first quarter valued at approximately $815,000. 72.13% of the stock is currently owned by hedge funds and other institutional investors.

About American Outdoor Brands Corporation

American Outdoor Brands Corporation, formerly Smith & Wesson Holding Corporation, is a manufacturer of firearms and a provider of accessory products for the shooting, hunting and outdoor enthusiast. The Company operates through two segments. The Firearms segment manufactures handgun and long gun products sold under the Smith & Wesson, M&P and Thompson/Center Arms brands, as well as providing forging, machining and precision plastic injection molding services.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for American Outdoor Brands Corporation (NASDAQ:AOBC)

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