American Outdoor Brands (NASDAQ:AOUT) Stock Bumped Up to "Strong-Buy" by Zacks Research

Key Points

• Zacks Research upgraded American Outdoor Brands to “strong buy” from “hold”, while analysts’ overall consensus remains “Moderate Buy” with a $16.50 target price.
• The company exceeded quarterly expectations, reporting $0.03 in earnings per share versus estimates of a $0.24 loss and revenue of $37.25 million versus $35.64 million expected.
• Institutional ownership stands at 49.87%, with several investors adding or initiating positions; BlackRock made the largest reported new investment at approximately $3.27 million.

American Outdoor Brands (NASDAQ:AOUT - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Wednesday, Zacks reports.

A number of other research analysts also recently commented on the company. Wall Street Zen raised American Outdoor Brands from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 5th. Roth Capital restated a "buy" rating and set a $17.00 price objective (up from $13.50) on shares of American Outdoor Brands in a report on Friday, September 4th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of American Outdoor Brands in a research note on Monday. Finally, Lake Street Capital reissued a "buy" rating and issued a $16.00 target price on shares of American Outdoor Brands in a research report on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, American Outdoor Brands has a consensus rating of "Moderate Buy" and a consensus target price of $16.50.

American Outdoor Brands Price Performance

American Outdoor Brands stock opened at $17.03 on Wednesday. American Outdoor Brands has a 12-month low of $6.26 and a 12-month high of $17.31. The company has a market capitalization of $214.92 million, a price-to-earnings ratio of -54.94 and a beta of 0.27. The firm's fifty day moving average price is $13.14 and its 200 day moving average price is $11.15.

American Outdoor Brands (NASDAQ:AOUT - Get Free Report) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.27. The company had revenue of $37.25 million during the quarter, compared to analysts' expectations of $35.64 million. American Outdoor Brands had a negative net margin of 1.97% and a positive return on equity of 2.88%. Analysts forecast that American Outdoor Brands will post 0.47 earnings per share for the current fiscal year.

Institutional Trading of American Outdoor Brands

A number of institutional investors have recently modified their holdings of AOUT. Susquehanna International Group LLP increased its holdings in American Outdoor Brands by 357.0% during the 2nd quarter. Susquehanna International Group LLP now owns 74,844 shares of the company's stock valued at $879,000 after purchasing an additional 58,466 shares during the period. Empowered Funds LLC bought a new position in American Outdoor Brands during the 2nd quarter valued at approximately $431,000. Ancora Advisors LLC purchased a new stake in American Outdoor Brands in the 2nd quarter worth approximately $1,043,000. Sanctuary Advisors LLC bought a new stake in shares of American Outdoor Brands in the 2nd quarter worth approximately $425,000. Finally, BlackRock Inc. bought a new stake in shares of American Outdoor Brands in the 2nd quarter worth approximately $3,270,000. 49.87% of the stock is currently owned by hedge funds and other institutional investors.

About American Outdoor Brands

American Outdoor Brands, Inc is an outdoor products company that develops, manufactures and sells equipment and accessories for shooting, hunting, fishing, camping and other outdoor activities. Its product portfolio includes shooting accessories, optics and mounts, knives and tools, game-processing equipment, hunting gear, fishing products, coolers and camping accessories.

The company markets its products under a portfolio of recognized outdoor brands, including Caldwell, Crimson Trace, BOG, Old Timer, Schrade, UST and Hooyman.

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