American Outdoor Brands (NASDAQ:AOUT) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded American Outdoor Brands from “strong buy” to “hold.” The broader analyst consensus is also “hold,” with a $14.25 average price target, despite mixed ratings from other firms.
• Shares opened at $10.81, below the 50-day moving average of $12.50, while trading between a 12-month range of $6.26 and $14.97.
• The company exceeded quarterly earnings expectations, reporting $0.13 per share versus a projected loss of $0.01, although revenue of $47.06 million fell short of estimates and net margin remained negative.

American Outdoor Brands (NASDAQ:AOUT - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

Several other brokerages also recently weighed in on AOUT. Lake Street Capital increased their target price on shares of American Outdoor Brands from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, June 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of American Outdoor Brands in a research note on Wednesday, June 24th. Roth Capital reiterated a "buy" rating and issued a $13.50 target price on shares of American Outdoor Brands in a research note on Friday, June 26th. Finally, Wall Street Zen upgraded American Outdoor Brands from a "hold" rating to a "buy" rating in a research note on Saturday, June 27th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, American Outdoor Brands currently has a consensus rating of "Hold" and a consensus price target of $14.25.

American Outdoor Brands Price Performance

Shares of American Outdoor Brands stock opened at $10.81 on Tuesday. The firm's fifty day simple moving average is $12.50 and its 200-day simple moving average is $10.39. The stock has a market capitalization of $136.42 million, a price-to-earnings ratio of -14.81 and a beta of 0.29. American Outdoor Brands has a 12 month low of $6.26 and a 12 month high of $14.97.

American Outdoor Brands (NASDAQ:AOUT - Get Free Report) last issued its quarterly earnings results on Thursday, June 25th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.14. American Outdoor Brands had a negative net margin of 4.83% and a positive return on equity of 0.67%. The firm had revenue of $47.06 million during the quarter, compared to analysts' expectations of $48.44 million. Analysts anticipate that American Outdoor Brands will post 0.39 earnings per share for the current year.

Institutional Investors Weigh In On American Outdoor Brands

A number of large investors have recently bought and sold shares of AOUT. Corient Private Wealth LLC lifted its position in shares of American Outdoor Brands by 422.9% in the fourth quarter. Corient Private Wealth LLC now owns 169,000 shares of the company's stock valued at $1,306,000 after acquiring an additional 136,680 shares in the last quarter. Argos Wealth Advisors LLC acquired a new position in American Outdoor Brands in the 4th quarter valued at about $975,000. Brandes Investment Partners LP grew its holdings in shares of American Outdoor Brands by 6.6% during the fourth quarter. Brandes Investment Partners LP now owns 1,887,645 shares of the company's stock worth $14,591,000 after buying an additional 116,971 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of American Outdoor Brands during the second quarter worth about $145,000. Finally, Empowered Funds LLC raised its position in shares of American Outdoor Brands by 6.7% in the first quarter. Empowered Funds LLC now owns 36,706 shares of the company's stock valued at $343,000 after buying an additional 2,306 shares during the last quarter. Institutional investors and hedge funds own 49.87% of the company's stock.

About American Outdoor Brands

American Outdoor Brands, Inc designs, manufactures and distributes a broad range of outdoor sports and recreational products for consumers and commercial end users. Through its Shooting & Accessories and Functional Outdoor Approaches segments, the company offers shooting sports equipment, hunting and fishing accessories, archery gear, tactical and personal defense solutions, outdoor apparel, fitness products and knife and tool categories. Its portfolio encompasses well-known brands such as Wheeler®, Tipton®, Caldwell®, Hogue®, Manticore Arms® and other specialty labels.

Formed as a standalone public company in 2016 following a spin-off from Smith & Wesson, American Outdoor Brands has its headquarters in Columbia, Missouri, with manufacturing, distribution and sales operations across North America.

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