Smith & Wesson Brands (NASDAQ:SWBI) Trading Down 4.8% – What’s Next?

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) fell 4.8% during mid-day trading on Thursday . The company traded as low as $12.24 and last traded at $12.1650. 167,543 shares traded hands during trading, a decline of 72% from the average daily volume of 597,406 shares. The stock had previously closed at $12.78.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Lake Street Capital increased their price objective on Smith & Wesson Brands from $14.00 to $16.50 and gave the company a “buy” rating in a report on Thursday, June 18th. Weiss Ratings cut Smith & Wesson Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, July 29th. Finally, Zacks Research raised Smith & Wesson Brands to a “hold” rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Smith & Wesson Brands presently has a consensus rating of “Hold” and a consensus price target of $16.50.

Smith & Wesson Brands Trading Down 4.3%

The company has a quick ratio of 1.13, a current ratio of 3.20 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $548.17 million, a PE ratio of 30.56 and a beta of 0.86. The business’s 50-day moving average is $14.53 and its two-hundred day moving average is $14.42.

Smith & Wesson Brands (NASDAQ:SWBI) last posted its earnings results on Wednesday, June 17th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.13. Smith & Wesson Brands had a return on equity of 5.01% and a net margin of 3.53%.The business had revenue of $178.39 million for the quarter, compared to analysts’ expectations of $155.27 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The business’s revenue was up 26.7% compared to the same quarter last year. On average, analysts anticipate that Smith & Wesson Brands, Inc. will post 0.55 earnings per share for the current fiscal year.

Smith & Wesson Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.52 annualized dividend and a yield of 4.3%. Smith & Wesson Brands’s payout ratio is 130.00%.

Institutional Investors Weigh In On Smith & Wesson Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Smith & Wesson Brands in the 2nd quarter valued at $61,549,000. Millennium Management LLC purchased a new stake in shares of Smith & Wesson Brands in the third quarter valued at about $7,558,000. Two Sigma Investments LP raised its holdings in shares of Smith & Wesson Brands by 166.1% in the third quarter. Two Sigma Investments LP now owns 753,964 shares of the company’s stock valued at $7,411,000 after buying an additional 470,602 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Smith & Wesson Brands during the second quarter worth about $6,423,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Smith & Wesson Brands by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,311,503 shares of the company’s stock worth $12,945,000 after buying an additional 265,370 shares during the period. Hedge funds and other institutional investors own 59.33% of the company’s stock.

About Smith & Wesson Brands

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.