Smith & Wesson Brands (NASDAQ:SWBI) Sets New 12-Month High – Here’s Why

Smith & Wesson Brands, Inc. (NASDAQ:SWBI)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $15.79 and last traded at $15.5740, with a volume of 60864 shares. The stock had previously closed at $15.57.

Analysts Set New Price Targets

SWBI has been the subject of a number of research reports. Lake Street Capital boosted their target price on Smith & Wesson Brands from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Smith & Wesson Brands in a report on Friday, March 27th. Finally, Wall Street Zen upgraded Smith & Wesson Brands from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 8th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Smith & Wesson Brands has a consensus rating of “Hold” and an average price target of $14.00.

Smith & Wesson Brands Price Performance

The company has a market cap of $669.00 million, a PE ratio of 65.38 and a beta of 0.91. The business’s 50 day moving average price is $14.07 and its 200-day moving average price is $11.54. The company has a quick ratio of 1.48, a current ratio of 4.50 and a debt-to-equity ratio of 0.29.

Smith & Wesson Brands (NASDAQ:SWBI) last posted its quarterly earnings data on Thursday, March 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $135.71 million for the quarter, compared to analyst estimates of $125.59 million. Smith & Wesson Brands had a net margin of 2.24% and a return on equity of 3.07%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 earnings per share. As a group, analysts forecast that Smith & Wesson Brands, Inc. will post 0.27 earnings per share for the current year.

Smith & Wesson Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, March 19th were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, March 19th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.5%. Smith & Wesson Brands’s dividend payout ratio (DPR) is currently 226.09%.

Hedge Funds Weigh In On Smith & Wesson Brands

Several institutional investors and hedge funds have recently made changes to their positions in SWBI. Royal Bank of Canada boosted its stake in shares of Smith & Wesson Brands by 25.3% during the 1st quarter. Royal Bank of Canada now owns 41,063 shares of the company’s stock valued at $383,000 after buying an additional 8,290 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Smith & Wesson Brands by 41.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 712,708 shares of the company’s stock valued at $6,642,000 after buying an additional 208,739 shares during the last quarter. Creative Planning boosted its stake in shares of Smith & Wesson Brands by 136.2% during the 2nd quarter. Creative Planning now owns 29,387 shares of the company’s stock valued at $255,000 after buying an additional 16,943 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Smith & Wesson Brands by 10.3% during the 2nd quarter. Legal & General Group Plc now owns 47,630 shares of the company’s stock valued at $413,000 after buying an additional 4,431 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Smith & Wesson Brands during the 2nd quarter valued at approximately $190,000. 59.33% of the stock is currently 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.