BidaskClub Upgrades American Outdoor Brands (NASDAQ:AOBC) to Hold

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American Outdoor Brands (NASDAQ:AOBC) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, BidAskClub reports.

A number of other equities analysts have also commented on the company. Craig Hallum dropped their price target on American Outdoor Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Cowen set a $10.00 price objective on American Outdoor Brands and gave the company a “hold” rating in a research note on Thursday, August 29th. ValuEngine lowered American Outdoor Brands from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Lake Street Capital reaffirmed a “buy” rating and issued a $14.00 price objective (down from $17.00) on shares of American Outdoor Brands in a research note on Friday, August 30th. Finally, Zacks Investment Research lowered American Outdoor Brands from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. American Outdoor Brands has an average rating of “Hold” and a consensus price target of $10.30.

Shares of American Outdoor Brands stock opened at $6.17 on Tuesday. The stock has a 50 day moving average of $7.42 and a 200 day moving average of $8.92. American Outdoor Brands has a 12 month low of $5.67 and a 12 month high of $15.95. The firm has a market cap of $347.56 million, a PE ratio of 7.43 and a beta of 0.30. The company has a current ratio of 1.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.32.

American Outdoor Brands (NASDAQ:AOBC) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). American Outdoor Brands had a net margin of 1.39% and a return on equity of 8.19%. The firm had revenue of $123.67 million for the quarter, compared to the consensus estimate of $126.58 million. During the same period in the previous year, the company posted $0.21 earnings per share. American Outdoor Brands’s quarterly revenue was down 10.9% on a year-over-year basis. As a group, equities research analysts forecast that American Outdoor Brands will post 0.74 earnings per share for the current fiscal year.

In other news, Director John B. Furman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $6.95, for a total value of $69,500.00. Following the completion of the sale, the director now directly owns 38,335 shares of the company’s stock, valued at approximately $266,428.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.68% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AOBC. Renaissance Technologies LLC raised its holdings in shares of American Outdoor Brands by 21.1% in the second 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. Nuveen Asset Management LLC purchased a new stake in shares of American Outdoor Brands in the second quarter worth approximately $2,398,000. Prudential Financial Inc. raised its holdings in shares of American Outdoor Brands by 183.6% in the second 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. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of American Outdoor Brands by 99.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,125 shares of the company’s stock worth $3,019,000 after buying an additional 167,400 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of American Outdoor Brands by 840.7% in the second quarter. Cubist Systematic Strategies LLC now owns 93,269 shares of the company’s stock worth $840,000 after buying an additional 83,354 shares during the period. Hedge funds and other institutional investors own 70.12% 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.

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