American Outdoor Brands (NASDAQ:AOUT) Stock Moved Down to Buy by Wall Street Zen

Key Points

• Wall Street Zen downgraded American Outdoor Brands from “strong buy” to “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $18.33.
• Recent analyst targets range from $16 to $22, and the stock opened at $18.06 after trading between $6.26 and $18.47 over the past year.
• American Outdoor Brands exceeded quarterly expectations, reporting $0.03 EPS versus an estimated loss of $0.24 and revenue of $37.25 million versus the $35.64 million consensus estimate; institutional investors own 49.87% of the shares.

American Outdoor Brands (NASDAQ:AOUT - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other brokerages also recently commented on AOUT. Roth Capital restated a "buy" rating and set a $17.00 target price (up from $13.50) on shares of American Outdoor Brands in a report on Friday, September 4th. Lake Street Capital reaffirmed a "buy" rating and issued a $16.00 price target on shares of American Outdoor Brands in a research note on Friday, September 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of American Outdoor Brands in a report on Monday, September 21st. LADENBURG THALM/SH SH started coverage on shares of American Outdoor Brands in a research report on Tuesday. They set a "buy" rating and a $22.00 price objective on the stock. Finally, Zacks Research upgraded shares of American Outdoor Brands from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.33.

American Outdoor Brands Price Performance

NASDAQ AOUT opened at $18.06 on Friday. The stock has a market capitalization of $227.92 million, a PE ratio of -58.26 and a beta of 0.15. American Outdoor Brands has a 1 year low of $6.26 and a 1 year high of $18.47. The business's 50-day moving average is $14.38 and its 200 day moving average is $12.05.

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

Institutional Investors Weigh In On American Outdoor Brands

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in American Outdoor Brands in the second quarter worth $3,270,000. Corient Private Wealth LLC raised its holdings in American Outdoor Brands by 422.9% in the fourth quarter. Corient Private Wealth LLC now owns 169,000 shares of the company's stock worth $1,306,000 after purchasing an additional 136,680 shares in the last quarter. Ancora Advisors LLC bought a new position in American Outdoor Brands in the second quarter worth $1,043,000. Susquehanna International Group LLP lifted its position in American Outdoor Brands by 357.0% during the second quarter. Susquehanna International Group LLP now owns 74,844 shares of the company's stock valued at $879,000 after buying an additional 58,466 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of American Outdoor Brands during the 2nd quarter valued at $431,000. 49.87% of the stock is currently owned by institutional investors.

About American Outdoor Brands

American Outdoor Brands, Inc NASDAQ: AOUT develops and markets outdoor and shooting products for hunting, fishing, camping, shooting sports, and related recreational activities. Its offerings include tools, equipment, accessories, and other consumer products designed for outdoor enthusiasts, sportsmen, and recreational users.

The company sells products under a portfolio of brands that includes BOG, Caldwell, Frankford Arsenal, Hooyman, Old Timer, Schrade, UST, and Wheeler, among others.

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