American Outdoor Brands (NASDAQ:AOUT) Downgraded by Zacks Research to "Strong Sell"

Key Points

• American Outdoor Brands has been downgraded by Zacks Research from a "hold" rating to a "strong sell" rating, signaling potential concerns about the company's performance.
• Brokerages like Lake Street Capital and Wall Street Zen have also adjusted their ratings, with Lake Street setting a price target of $19.00 for the stock, down from $20.00.
• The company has seen significant buying from institutional investors, with Brandes Investment Partners and Geode Capital among those increasing their stakes in the firm.

American Outdoor Brands (NASDAQ:AOUT - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on AOUT. Lake Street Capital restated a "buy" rating and set a $19.00 price objective (down previously from $20.00) on shares of American Outdoor Brands in a research report on Friday, June 27th. Wall Street Zen downgraded shares of American Outdoor Brands from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $19.00.

American Outdoor Brands Trading Down 0.2%

Shares of NASDAQ:AOUT opened at $8.68 on Monday. The company has a market capitalization of $109.89 million, a PE ratio of -23.46 and a beta of 0.39. American Outdoor Brands has a twelve month low of $8.10 and a twelve month high of $17.91. The firm has a 50 day simple moving average of $9.38 and a 200-day simple moving average of $10.66.

Hedge Funds Weigh In On American Outdoor Brands

Several institutional investors have recently bought and sold shares of the company. Brandes Investment Partners LP increased its stake in American Outdoor Brands by 6.5% in the 2nd quarter. Brandes Investment Partners LP now owns 1,219,798 shares of the company's stock valued at $12,747,000 after buying an additional 74,107 shares during the period. Geode Capital Management LLC increased its stake in American Outdoor Brands by 104.7% in the 2nd quarter. Geode Capital Management LLC now owns 293,683 shares of the company's stock valued at $3,070,000 after buying an additional 150,202 shares during the period. Acadian Asset Management LLC increased its stake in American Outdoor Brands by 82.4% in the 1st quarter. Acadian Asset Management LLC now owns 157,704 shares of the company's stock valued at $1,913,000 after buying an additional 71,229 shares during the period. Bridgeway Capital Management LLC increased its stake in American Outdoor Brands by 1.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 124,386 shares of the company's stock valued at $1,300,000 after buying an additional 2,180 shares during the period. Finally, American Century Companies Inc. increased its stake in American Outdoor Brands by 307.6% in the 1st quarter. American Century Companies Inc. now owns 105,838 shares of the company's stock valued at $1,287,000 after buying an additional 79,869 shares during the period. 49.87% of the stock is owned by institutional investors and hedge funds.

About American Outdoor Brands

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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