American Outdoor Brands (NASDAQ:AOUT) Declares Share Buyback Plan

Key Points

• American Outdoor Brands' Board of Directors has approved a stock repurchase plan to buy back $10.00 million in shares, which indicates the leadership believes the stock is undervalued.
• Recent analyst ratings show a mixed sentiment, with one upgrade to "buy" from Lake Street Capital and downgrades to "hold" and "strong sell" from Wall Street Zen and Zacks Research, respectively.
• As of mid-day trading, AOUT shares were priced at $8.45, down $0.06, with a current market cap of $106.98 million.

American Outdoor Brands (NASDAQ:AOUT - Get Free Report) announced that its Board of Directors has approved a stock repurchase plan on Thursday, October 2nd, RTT News reports. The company plans to buyback $10.00 million in shares. This buyback authorization authorizes the company to repurchase up to 9.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

AOUT has been the topic of several recent analyst reports. Wall Street Zen downgraded American Outdoor Brands from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Zacks Research downgraded American Outdoor Brands from a "hold" rating to a "strong sell" rating in a research report on Monday. Finally, Lake Street Capital reissued a "buy" rating and set a $19.00 price objective (down previously from $20.00) on shares of American Outdoor Brands in a report on Friday, June 27th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $19.00.

American Outdoor Brands Stock Performance

Shares of AOUT stock traded down $0.06 during mid-day trading on Thursday, hitting $8.45. The company's stock had a trading volume of 50,547 shares, compared to its average volume of 100,123. The company's fifty day simple moving average is $9.34 and its 200-day simple moving average is $10.61. The company has a market cap of $106.98 million, a PE ratio of -22.84 and a beta of 0.30. American Outdoor Brands has a 52 week low of $8.10 and a 52 week high of $17.91.

American Outdoor Brands Company Profile

American Outdoor Brands, Inc provides outdoor products and accessories for rugged outdoor enthusiasts in the United States and internationally. It offers hunting, fishing, camping, shooting, and personal security and defense products. The company also provides shooting sports accessories products include rests, vaults, and other related accessories; outdoor lifestyle products, such as premium sportsmen knives and tools for fishing and hunting; land management tools for hunting preparedness; harvesting products for post-hunt or post-fishing activities; outdoor cooking products; and camping, survival, and emergency preparedness products.

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