Outdoor (NASDAQ:POWW) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Outdoor (NASDAQ:POWW) from a hold rating to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

A number of other analysts have also weighed in on the company. Weiss Ratings lowered Outdoor from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday. Roth Mkm boosted their target price on Outdoor from $2.30 to $2.75 and gave the stock a “buy” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Outdoor currently has an average rating of “Moderate Buy” and a consensus target price of $2.62.

Outdoor Trading Down 6.0%

POWW opened at $2.20 on Wednesday. The business has a fifty day simple moving average of $2.04 and a 200-day simple moving average of $1.96. Outdoor has a 52 week low of $1.08 and a 52 week high of $2.45. The firm has a market cap of $255.55 million, a P/E ratio of -44.00 and a beta of 1.05. The company has a quick ratio of 4.00, a current ratio of 3.96 and a debt-to-equity ratio of 0.04.

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

Hedge Funds Weigh In On Outdoor

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its position in Outdoor by 35.0% in the first quarter. Bank of America Corp DE now owns 100,015 shares of the company’s stock valued at $201,000 after purchasing an additional 25,925 shares during the period. Royal Bank of Canada raised its stake in shares of Outdoor by 626.3% during the 1st quarter. Royal Bank of Canada now owns 18,055 shares of the company’s stock worth $36,000 after buying an additional 15,569 shares in the last quarter. Renaissance Technologies LLC raised its stake 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 in the last quarter. Aristides Capital LLC acquired a new stake in shares of Outdoor in the 1st quarter valued at approximately $71,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Outdoor in the first quarter valued at approximately $1,116,000. 26.40% of the stock is currently owned by hedge funds and other institutional investors.

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.