American Outdoor Brands (NASDAQ:AOUT) Lowered to “Hold” Rating by Zacks Research

Zacks Research cut shares of American Outdoor Brands (NASDAQ:AOUT) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Wall Street Zen upgraded American Outdoor Brands from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Lake Street Capital boosted their price objective on American Outdoor Brands from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Outdoor Brands in a research note on Wednesday, June 24th. Finally, Roth Capital reiterated a “buy” rating and set a $13.50 target price on shares of American Outdoor Brands in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $14.25.

American Outdoor Brands Stock Performance

AOUT opened at $10.81 on Tuesday. American Outdoor Brands has a fifty-two week low of $6.26 and a fifty-two week high of $14.97. The company has a fifty day moving average of $12.50 and a two-hundred day moving average of $10.39. The stock has a market capitalization of $136.42 million, a price-to-earnings ratio of -14.81 and a beta of 0.29.

American Outdoor Brands (NASDAQ:AOUT) last posted its earnings results on Thursday, June 25th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.14. American Outdoor Brands had a negative net margin of 4.83% and a positive return on equity of 0.67%. The business had revenue of $47.06 million for the quarter, compared to analyst estimates of $48.44 million. On average, equities research analysts forecast that American Outdoor Brands will post 0.39 earnings per share for the current year.

Institutional Investors Weigh In On American Outdoor Brands

A number of institutional investors and hedge funds have recently made changes to their positions in AOUT. Fifth Third Bancorp acquired a new stake in shares of American Outdoor Brands during the first quarter worth about $30,000. Comerica Bank boosted its stake in shares of American Outdoor Brands by 203.6% in the third quarter. Comerica Bank now owns 3,504 shares of the company’s stock valued at $30,000 after purchasing an additional 2,350 shares during the period. Bank of America Corp DE grew its holdings in shares of American Outdoor Brands by 505.6% in the second quarter. Bank of America Corp DE now owns 5,372 shares of the company’s stock valued at $56,000 after purchasing an additional 4,485 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of American Outdoor Brands by 4,535.9% in the second quarter. JPMorgan Chase & Co. now owns 5,934 shares of the company’s stock valued at $62,000 after purchasing an additional 5,806 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in American Outdoor Brands during the 2nd quarter worth approximately $64,000. 49.87% of the stock is owned by hedge funds and other institutional investors.

American Outdoor Brands Company Profile

American Outdoor Brands, Inc designs, manufactures and distributes a broad range of outdoor sports and recreational products for consumers and commercial end users. Through its Shooting & Accessories and Functional Outdoor Approaches segments, the company offers shooting sports equipment, hunting and fishing accessories, archery gear, tactical and personal defense solutions, outdoor apparel, fitness products and knife and tool categories. Its portfolio encompasses well-known brands such as Wheeler®, Tipton®, Caldwell®, Hogue®, Manticore Arms® and other specialty labels.

Formed as a standalone public company in 2016 following a spin-off from Smith & Wesson, American Outdoor Brands has its headquarters in Columbia, Missouri, with manufacturing, distribution and sales operations across North America.