Smith & Wesson Brands (NASDAQ:SWBI) Rating Increased to Hold at Wall Street Zen

Key Points

• Smith & Wesson Brands has been upgraded from a "sell" to a "hold" rating by analysts at Wall Street Zen.
• Lake Street Capital has lowered its price target for the company from $12.50 to $11.00 while maintaining a "buy" rating.
• Smith & Wesson's latest earnings report revealed a missed EPS estimate of $0.20, compared to the expected $0.23, with revenue down 11.6% year-over-year.

Smith & Wesson Brands (NASDAQ:SWBI - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Separately, Lake Street Capital cut their price target on Smith & Wesson Brands from $12.50 to $11.00 and set a "buy" rating for the company in a report on Monday, June 23rd.

Smith & Wesson Brands Stock Performance

Smith & Wesson Brands stock traded down $0.01 during midday trading on Friday, reaching $8.08. 108,466 shares of the stock traded hands, compared to its average volume of 604,695. The firm has a fifty day moving average price of $9.18 and a two-hundred day moving average price of $9.67. The firm has a market cap of $355.30 million, a price-to-earnings ratio of 29.91 and a beta of 0.94. The company has a current ratio of 4.16, a quick ratio of 1.31 and a debt-to-equity ratio of 0.30. Smith & Wesson Brands has a fifty-two week low of $7.88 and a fifty-two week high of $16.85.

Smith & Wesson Brands (NASDAQ:SWBI - Get Free Report) last announced its quarterly earnings results on Wednesday, June 18th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). Smith & Wesson Brands had a net margin of 2.60% and a return on equity of 3.71%. The company had revenue of $140.76 million for the quarter, compared to analyst estimates of $152.41 million. During the same quarter last year, the business earned $0.45 EPS. The company's revenue for the quarter was down 11.6% on a year-over-year basis. On average, equities research analysts forecast that Smith & Wesson Brands will post 0.47 earnings per share for the current year.

Institutional Trading of Smith & Wesson Brands

A number of hedge funds have recently made changes to their positions in SWBI. Lesa Sroufe & Co increased its holdings in Smith & Wesson Brands by 2.9% in the second quarter. Lesa Sroufe & Co now owns 81,167 shares of the company's stock worth $705,000 after purchasing an additional 2,299 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in shares of Smith & Wesson Brands in the second quarter valued at $372,000. CWM LLC raised its stake in shares of Smith & Wesson Brands by 119.2% during the 2nd quarter. CWM LLC now owns 6,542 shares of the company's stock valued at $57,000 after purchasing an additional 3,558 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Smith & Wesson Brands during the 2nd quarter valued at $130,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Smith & Wesson Brands during the 2nd quarter valued at $112,000. 59.33% of the stock is owned by institutional investors and hedge funds.

Smith & Wesson Brands Company Profile

Smith & Wesson Brands, Inc is a holding company, which engages in the manufacture, design, and provision of firearms. Its portfolio includes handguns, long guns, handcuffs, suppressor, and other firearm-related products. The firm's brands are Smith & Wesson, M&P, Thompson/Center Arms, and Gemtech.