Outdoor (NASDAQ:POWW) Stock Rating Upgraded by Zacks Research

Outdoor (NASDAQ:POWW) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

POWW has been the topic of several other research reports. Weiss Ratings lowered Outdoor from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday. Roth Mkm raised their price objective on Outdoor from $2.30 to $2.75 and gave the company a “buy” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2.62.

Outdoor Stock Down 6.0%

POWW stock opened at $2.20 on Wednesday. The business has a 50-day moving average of $2.04 and a 200-day moving average of $1.96. Outdoor has a fifty-two week low of $1.08 and a fifty-two week high of $2.45. The stock has a market capitalization of $255.55 million, a P/E ratio of -44.00 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.96 and a quick ratio of 4.00.

Outdoor (NASDAQ:POWW) last released its quarterly earnings results on Monday, June 22nd. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The firm had revenue of $13.89 million for the quarter, compared to analyst estimates of $12.70 million. Outdoor had a positive return on equity of 1.89% and a negative net margin of 6.92%. On average, sell-side analysts anticipate that Outdoor will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Outdoor

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in shares of Outdoor by 35.0% in the first quarter. Bank of America Corp DE now owns 100,015 shares of the company’s stock worth $201,000 after purchasing an additional 25,925 shares during the period. Royal Bank of Canada boosted its holdings in shares of Outdoor by 626.3% in the 1st quarter. Royal Bank of Canada now owns 18,055 shares of the company’s stock valued at $36,000 after purchasing an additional 15,569 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Outdoor by 5.1% during the 1st quarter. Renaissance Technologies LLC now owns 605,300 shares of the company’s stock worth $1,217,000 after buying an additional 29,300 shares during the last quarter. Aristides Capital LLC bought a new position in Outdoor in the first quarter valued at about $71,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Outdoor during the first quarter worth about $1,116,000. Institutional investors own 26.40% of the company’s stock.

Outdoor Company Profile

AMMO, Inc designs, produces, and markets ammunition and ammunition component products for sport and recreational shooters, hunters, individuals seeking home or personal protection, manufacturers, and law enforcement and military agencies. The company's products include STREAK Visual Ammunition that enables shooters to see the path of the bullets fired by them; and Stelth Subsonic ammunition primarily for suppressed firearms. It also owns and operates GunBroker.com, an auction site that supports the lawful sale of firearms, ammunition, and hunting/shooting accessories.