American Outdoor Brands (NASDAQ:AOUT) Stock Rating Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of American Outdoor Brands (NASDAQ:AOUT) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other research analysts also recently weighed in on AOUT. Zacks Research upgraded American Outdoor Brands from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 23rd. LADENBURG THALM/SH SH assumed coverage on American Outdoor Brands in a report on Tuesday, October 13th. They issued a “buy” rating and a $22.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of American Outdoor Brands in a research note on Monday, September 21st. Roth Capital reaffirmed a “buy” rating and set a $17.00 price target (up from $13.50) on shares of American Outdoor Brands in a report on Friday, September 4th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $16.00 price target on shares of American Outdoor Brands in a report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.33.

American Outdoor Brands Stock Performance

Shares of AOUT opened at $18.06 on Friday. American Outdoor Brands has a fifty-two week low of $6.26 and a fifty-two week high of $18.47. The firm has a 50-day simple moving average of $14.38 and a 200-day simple moving average of $12.05. The company has a market capitalization of $227.92 million, a price-to-earnings ratio of -58.26 and a beta of 0.15.

American Outdoor Brands (NASDAQ:AOUT) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.27. The firm had revenue of $37.25 million for the quarter, compared to analysts’ expectations of $35.64 million. American Outdoor Brands had a positive return on equity of 2.88% and a negative net margin of 1.97%. Equities research analysts forecast that American Outdoor Brands will post 0.47 EPS for the current year.

Institutional Trading of American Outdoor Brands

Institutional investors have recently modified their holdings of the business. Fifth Third Bancorp purchased a new position in shares of American Outdoor Brands in the first quarter valued at $30,000. Bank of America Corp DE raised its stake in shares of American Outdoor Brands by 15.0% during the 1st quarter. Bank of America Corp DE now owns 10,989 shares of the company’s stock worth $103,000 after buying an additional 1,436 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of American Outdoor Brands during the 2nd quarter worth $145,000. Bank of New York Mellon Corp purchased a new stake in shares of American Outdoor Brands in the 2nd quarter worth about $169,000. Finally, State of Wyoming purchased a new stake in shares of American Outdoor Brands in the 1st quarter worth about $149,000. 49.87% of the stock is currently owned by hedge funds and other institutional investors.

About American Outdoor Brands

American Outdoor Brands, Inc (NASDAQ: AOUT) develops and markets outdoor and shooting products for hunting, fishing, camping, shooting sports, and related recreational activities. Its offerings include tools, equipment, accessories, and other consumer products designed for outdoor enthusiasts, sportsmen, and recreational users.

The company sells products under a portfolio of brands that includes BOG, Caldwell, Frankford Arsenal, Hooyman, Old Timer, Schrade, UST, and Wheeler, among others.