Lake Street Capital Raises Smith & Wesson Brands (NASDAQ:SWBI) Price Target to $16.50

Smith & Wesson Brands (NASDAQ:SWBI) had its price target raised by equities research analysts at Lake Street Capital from $14.00 to $16.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s price target points to a potential upside of 20.17% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the company. Wall Street Zen raised Smith & Wesson Brands from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smith & Wesson Brands in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Smith & Wesson Brands presently has a consensus rating of “Hold” and a consensus target price of $16.50.

Smith & Wesson Brands Stock Down 1.1%

SWBI stock opened at $13.73 on Thursday. Smith & Wesson Brands has a twelve month low of $7.73 and a twelve month high of $15.79. The company has a quick ratio of 1.48, a current ratio of 4.50 and a debt-to-equity ratio of 0.29. The stock has a market cap of $610.85 million, a P/E ratio of 59.70 and a beta of 0.90. The business’s 50-day moving average price is $14.91 and its 200-day moving average price is $12.82.

Smith & Wesson Brands (NASDAQ:SWBI) last posted its quarterly earnings data on Wednesday, June 17th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.13. Smith & Wesson Brands had a return on equity of 3.07% and a net margin of 2.24%.The firm had revenue of $178.39 million for the quarter, compared to analysts’ expectations of $155.27 million. During the same period in the previous year, the firm earned $0.20 EPS. The business’s quarterly revenue was up 26.7% on a year-over-year basis. On average, equities research analysts forecast that Smith & Wesson Brands will post 0.27 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SWBI. Caitong International Asset Management Co. Ltd purchased a new position in Smith & Wesson Brands in the 4th quarter worth approximately $30,000. Western Wealth Management LLC purchased a new position in Smith & Wesson Brands in the 1st quarter worth approximately $34,000. Tower Research Capital LLC TRC lifted its holdings in Smith & Wesson Brands by 205.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,240 shares of the company’s stock worth $54,000 after purchasing an additional 4,200 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in Smith & Wesson Brands by 12.2% in the 2nd quarter. Rafferty Asset Management LLC now owns 11,403 shares of the company’s stock worth $99,000 after purchasing an additional 1,237 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in Smith & Wesson Brands in the 2nd quarter worth approximately $101,000. 59.33% of the stock is owned by hedge funds and other institutional investors.

Smith & Wesson Brands Company Profile

Smith & Wesson Brands, Inc is a leading American manufacturer of firearms and related products, designing, producing and marketing a broad array of handguns, long guns and shooting accessories. The company’s portfolio includes revolvers, semi-automatic pistols and rifles under well-known brands such as M&P® (Military & Police) and Performance Center®, which are used by military, law enforcement, commercial and private customers. In addition to complete firearms, Smith & Wesson offers suppressors, optics mounts, holsters and other shooting accessories to support a full spectrum of professional and recreational shooting activities.

Founded in 1852 by Horace Smith and Daniel B.