American Outdoor Brands (NASDAQ:AOBC) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of American Outdoor Brands (NASDAQ:AOBC) from a buy rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.

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 research analysts also recently weighed in on the stock. BidaskClub downgraded shares of Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. Cowen reissued a hold rating and issued a $12.00 target price on shares of American Outdoor Brands in a research note on Wednesday, June 19th. Wedbush set a $190.00 target price on shares of Home Depot and gave the company a hold rating in a research note on Wednesday, May 22nd. Finally, ValuEngine downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $12.40.

Shares of AOBC opened at $9.39 on Thursday. American Outdoor Brands has a twelve month low of $8.19 and a twelve month high of $15.95. The stock has a market capitalization of $514.59 million, a P/E ratio of 11.31 and a beta of 0.15. 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 company has a fifty day moving average price of $8.89.

American Outdoor Brands (NASDAQ:AOBC) last announced its earnings results on Wednesday, June 19th. The company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $175.73 million for the quarter, compared to the consensus estimate of $168.99 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that American Outdoor Brands will post 0.81 EPS for the current year.

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

A number of hedge funds have recently bought and sold shares of AOBC. Norges Bank purchased a new position in American Outdoor Brands in the 4th quarter worth about $11,304,000. BlackRock Inc. increased its position in American Outdoor Brands by 8.5% during the 4th quarter. BlackRock Inc. now owns 7,107,511 shares of the company’s stock valued at $91,403,000 after purchasing an additional 556,464 shares during the period. Dimensional Fund Advisors LP increased its position in American Outdoor Brands by 10.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,538,240 shares of the company’s stock valued at $58,361,000 after purchasing an additional 442,078 shares during the period. Deutsche Bank AG increased its position in American Outdoor Brands by 62.6% during the 4th quarter. Deutsche Bank AG now owns 1,144,341 shares of the company’s stock valued at $14,715,000 after purchasing an additional 440,688 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in American Outdoor Brands during the 1st quarter valued at about $3,715,000. 66.63% of the stock is currently owned by institutional investors.

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.

See Also: Return on Investment (ROI)

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.