Zacks Investment Research Downgrades Vista Outdoor (VSTO) to Strong Sell

Zacks Investment Research lowered shares of Vista Outdoor (NYSE:VSTO) from a hold rating to a strong sell rating in a research report released on Thursday, Zacks.com reports.

According to Zacks, “Vista Outdoor Inc. develops, manufacture and distribute optics, accessories and eyewear. The Company operates in two segments: Shooting Sports and Outdoor Products. Its product consist of binoculars, laser rangefinders, riflescopes, trail cameras, archery accessories, blinds, decoys, game calls, gun care products, mounts, powder, reloading equipment, targets, target systems, safety and protective eyewear, fashion and sports eyewear. The company’s product portfolio include Bushnell(R), Primos(R), Bollè(R), Serengeti(R), Cèbè, RCBS(R), Hoppe’s(R), Uncle Mike’s(R), Gold Tip(R), Weaver(R) and Tasco(R). Vista Outdoor Inc. is headquartered in Utah. “

A number of other research firms also recently commented on VSTO. ValuEngine downgraded shares of Vista Outdoor from a hold rating to a sell rating in a report on Monday, February 4th. B. Riley set a $13.00 target price on shares of Vista Outdoor and gave the stock a buy rating in a research report on Friday, May 10th. Monness Crespi & Hardt upgraded shares of Vista Outdoor from a neutral rating to a buy rating and set a $12.00 target price for the company in a research report on Friday, May 10th. Roth Capital reiterated a neutral rating on shares of Vista Outdoor in a research report on Friday, February 8th. Finally, Cowen reiterated a hold rating and set a $12.00 target price on shares of Vista Outdoor in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $14.60.

Shares of NYSE:VSTO traded down $0.31 during midday trading on Thursday, reaching $9.25. 7,854 shares of the company’s stock were exchanged, compared to its average volume of 556,515. The company has a market capitalization of $544.81 million, a price-to-earnings ratio of 66.00 and a beta of 0.11. Vista Outdoor has a 12 month low of $7.78 and a 12 month high of $19.41. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.88 and a current ratio of 2.96.

Vista Outdoor (NYSE:VSTO) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.12). The business had revenue of $515.34 million for the quarter, compared to the consensus estimate of $503.17 million. Vista Outdoor had a positive return on equity of 0.89% and a negative net margin of 31.50%. Vista Outdoor’s revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.22) earnings per share. Sell-side analysts forecast that Vista Outdoor will post 0.3 EPS for the current year.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Vista Outdoor by 3.1% during the 4th quarter. BlackRock Inc. now owns 8,311,097 shares of the company’s stock worth $94,331,000 after purchasing an additional 249,541 shares in the last quarter. Vanguard Group Inc. increased its position in Vista Outdoor by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,797,645 shares of the company’s stock valued at $103,720,000 after acquiring an additional 130,058 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in Vista Outdoor by 12.4% in the 1st quarter. Frontier Capital Management Co. LLC now owns 5,305,969 shares of the company’s stock valued at $42,501,000 after acquiring an additional 586,071 shares in the last quarter. Berkley W R Corp increased its position in Vista Outdoor by 33.3% in the 4th quarter. Berkley W R Corp now owns 2,001,286 shares of the company’s stock valued at $22,715,000 after acquiring an additional 500,010 shares in the last quarter. Finally, FMR LLC increased its position in Vista Outdoor by 15.0% in the 4th quarter. FMR LLC now owns 1,254,497 shares of the company’s stock valued at $14,239,000 after acquiring an additional 163,602 shares in the last quarter. Institutional investors and hedge funds own 96.55% of the company’s stock.

About Vista Outdoor

Vista Outdoor Inc designs, manufactures, and markets consumer products for outdoor sports and recreation markets in the United States and internationally. The company operates through Outdoor Products and Shooting Sports segments. The Outdoor Products segment offer sports products for action sports, including helmets, goggles, and accessories for cycling, snow, action, and power sports; archery/hunting accessories, such as hunting arrows, game calls, hunting blinds, game cameras, and waterfowl decoys; outdoor cooking solutions for camping; eyewear and sport protection products, including safety and protective eyewear, and fashion and sports eyewear; golf products, such as laser rangefinders; hydration products comprising hydration packs and water bottles; optical products, such as binoculars, riflescopes, and telescopes; shooting accessories, including reloading equipment, clay targets, and premium gun care products; tactical products, such as holsters, duty gear, bags, and packs; and water sports products, including stand up paddle boards.

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