Smith & Wesson Brands (NASDAQ:SWBI) Shares Break Above 200-Day Moving Average – Here’s What Happened

Smith & Wesson Brands, Inc. (NASDAQ:SWBI)’s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $13.99 and traded as high as $14.62. Smith & Wesson Brands shares last traded at $14.49, with a volume of 1,220,668 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smith & Wesson Brands in a report on Tuesday, October 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $16.50.

Smith & Wesson Brands Price Performance

The stock has a market cap of $648.83 million, a PE ratio of 24.54 and a beta of 0.81. The company has a current ratio of 3.62, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $13.82 and a two-hundred day simple moving average of $14.03.

Smith & Wesson Brands (NASDAQ:SWBI) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.12. The company had revenue of $112.59 million during the quarter, compared to analyst estimates of $98.70 million. Smith & Wesson Brands had a return on equity of 6.60% and a net margin of 4.44%. The firm’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) EPS. Research analysts forecast that Smith & Wesson Brands, Inc. will post 0.63 earnings per share for the current year.

Smith & Wesson Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 17th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $0.52 annualized dividend and a dividend yield of 3.6%. Smith & Wesson Brands’s dividend payout ratio (DPR) is 96.30%.

Hedge Funds Weigh In On Smith & Wesson Brands

Several hedge funds and other institutional investors have recently modified their holdings of SWBI. Russell Investments Group Ltd. raised its stake in Smith & Wesson Brands by 117.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 119,502 shares of the company’s stock worth $1,680,000 after acquiring an additional 64,578 shares during the period. Ritholtz Wealth Management bought a new stake in Smith & Wesson Brands in the 3rd quarter valued at $234,000. Alps Advisors Inc. purchased a new position in shares of Smith & Wesson Brands in the third quarter valued at $618,000. Kestra Advisory Services LLC increased its position in Smith & Wesson Brands by 6.8% in the third quarter. Kestra Advisory Services LLC now owns 66,706 shares of the company’s stock worth $938,000 after purchasing an additional 4,265 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Smith & Wesson Brands by 19.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 25,478 shares of the company’s stock worth $358,000 after buying an additional 4,235 shares during the last quarter. 59.33% of the stock is owned by institutional investors.

Smith & Wesson Brands Company Profile

Smith & Wesson Brands, Inc is an American firearms manufacturer that designs, manufactures, and sells handguns, long guns, and related firearms products. Its portfolio includes pistols, revolvers, modern sporting rifles, and bolt-action rifles marketed under the Smith & Wesson and M&P brands, along with specialized products associated with its Performance Center.

The company serves a range of customers, including consumers, law enforcement agencies, military organizations, and security professionals.