Smith & Wesson Brands (NASDAQ:SWBI) Stock Price Up 2.1% – Here’s What Happened

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) traded up 2.1% on Thursday . The company traded as high as $15.36 and last traded at $15.25. 442,344 shares traded hands during trading, a decline of 53% from the average session volume of 935,644 shares. The stock had previously closed at $14.93.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Smith & Wesson Brands to a “hold” rating in a report on Tuesday, June 23rd. Lake Street Capital increased their target price on shares of Smith & Wesson Brands from $14.00 to $16.50 and gave the company a “buy” rating in a report on Thursday, June 18th. Finally, Weiss Ratings upgraded shares of Smith & Wesson Brands from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.50.

Smith & Wesson Brands Stock Up 2.1%

The company has a current ratio of 3.20, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $15.16 and a 200 day simple moving average of $13.62. The firm has a market capitalization of $682.13 million, a PE ratio of 38.13 and a beta of 0.84.

Smith & Wesson Brands (NASDAQ:SWBI) last released 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 5.01% and a net margin of 3.53%.The firm had revenue of $178.39 million during the quarter, compared to analyst estimates of $155.27 million. During the same quarter in the prior year, the firm posted $0.20 earnings per share. The business’s quarterly revenue was up 26.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Smith & Wesson Brands, Inc. will post 0.55 earnings per share for the current year.

Smith & Wesson Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, July 1st. Smith & Wesson Brands’s dividend payout ratio (DPR) is 130.00%.

Hedge Funds Weigh In On Smith & Wesson Brands

Several hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. purchased a new stake in shares of Smith & Wesson Brands during the first quarter worth about $2,205,000. Empowered Funds LLC purchased a new position in Smith & Wesson Brands during the 1st quarter valued at about $250,000. Western Wealth Management LLC bought a new position in Smith & Wesson Brands during the 1st quarter valued at approximately $34,000. Quantinno Capital Management LP raised its position in Smith & Wesson Brands by 55.4% during the 1st quarter. Quantinno Capital Management LP now owns 64,781 shares of the company’s stock valued at $928,000 after purchasing an additional 23,082 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Smith & Wesson Brands by 68.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 364,994 shares of the company’s stock worth $5,230,000 after buying an additional 147,795 shares during the period. 59.33% of the stock is owned by institutional investors.

About Smith & Wesson Brands

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.