American Outdoor Brands Corp (NASDAQ:AOBC) Sees Large Decrease in Short Interest

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American Outdoor Brands Corp (NASDAQ:AOBC) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 2,477,800 shares, a decline of 17.2% from the June 30th total of 2,993,400 shares. Based on an average daily volume of 698,800 shares, the days-to-cover ratio is presently 3.5 days. Currently, 4.7% of the company’s shares are sold short.

Several research firms have recently weighed in on AOBC. Wedbush set a $10.00 target price on American Outdoor Brands and gave the company a “hold” rating in a research report on Wednesday, May 22nd. BidaskClub cut American Outdoor Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Zacks Investment Research upgraded American Outdoor Brands from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Monday, July 22nd. Cowen restated a “hold” rating and set a $12.00 price objective on shares of American Outdoor Brands in a report on Wednesday, June 19th. Finally, ValuEngine cut American Outdoor Brands from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. American Outdoor Brands presently has an average rating of “Hold” and a consensus price target of $12.60.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of American Outdoor Brands in the 4th quarter worth $11,304,000. Renaissance Technologies LLC lifted its holdings in shares of American Outdoor Brands by 21.1% in the 2nd quarter. Renaissance Technologies LLC now owns 3,682,400 shares of the company’s stock worth $33,178,000 after buying an additional 642,010 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of American Outdoor Brands in the 1st quarter worth $3,715,000. SG Americas Securities LLC lifted its holdings in shares of American Outdoor Brands by 1,390.7% in the 1st quarter. SG Americas Securities LLC now owns 273,807 shares of the company’s stock worth $2,557,000 after buying an additional 255,439 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in shares of American Outdoor Brands by 183.6% in the 2nd quarter. Prudential Financial Inc. now owns 299,949 shares of the company’s stock worth $2,703,000 after buying an additional 194,200 shares during the period. Institutional investors own 65.95% of the company’s stock.

AOBC opened at $7.90 on Thursday. The firm’s fifty day simple moving average is $8.99. American Outdoor Brands has a 52-week low of $7.81 and a 52-week high of $15.95. 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 has a market cap of $455.95 million, a PE ratio of 10.02 and a beta of 0.11.

American Outdoor Brands (NASDAQ:AOBC) last posted its quarterly earnings data on Wednesday, June 19th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.10. American Outdoor Brands had a return on equity of 10.55% and a net margin of 2.88%. The company had revenue of $175.73 million during the quarter, compared to analysts’ expectations of $168.99 million. During the same quarter in the previous year, the business earned $0.24 EPS. American Outdoor Brands’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts anticipate that American Outdoor Brands will post 0.81 EPS for the current fiscal year.

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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