Smith & Wesson Brands (NASDAQ:SWBI) Rating Increased to Hold at Zacks Research

Key Points

• Smith & Wesson Brands was upgraded from a "strong sell" to a "hold" rating by Zacks Research, indicating a more positive outlook.
• Analysts have mixed opinions, with one rating the stock as a "buy," while another has downgraded it to "sell," resulting in an average rating of "hold" and a price target of $12.00.
• Recently reported earnings revealed a miss on EPS estimates, with $0.20 reported versus the expected $0.23, and revenue that was 11.6% lower than last year.

Smith & Wesson Brands (NASDAQ:SWBI - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

A number of other analysts have also commented on SWBI. Lake Street Capital lowered their price objective on Smith & Wesson Brands from $12.50 to $11.00 and set a "buy" rating for the company in a research report on Monday, June 23rd. Wall Street Zen cut Smith & Wesson Brands from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $12.00.

Smith & Wesson Brands Price Performance

Shares of SWBI stock opened at $8.21 on Tuesday. The stock has a 50-day moving average price of $8.35 and a 200 day moving average price of $9.31. The company has a quick ratio of 1.31, a current ratio of 4.16 and a debt-to-equity ratio of 0.30. The firm has a market cap of $361.24 million, a price-to-earnings ratio of 30.41 and a beta of 0.91. Smith & Wesson Brands has a 12 month low of $7.73 and a 12 month high of $15.13.

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

Hedge Funds Weigh In On Smith & Wesson Brands

Several institutional investors have recently modified their holdings of SWBI. Financial Harvest LLC bought a new position in shares of Smith & Wesson Brands during the 1st quarter valued at about $31,000. PNC Financial Services Group Inc. lifted its holdings in shares of Smith & Wesson Brands by 162.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,320 shares of the company's stock valued at $40,000 after purchasing an additional 2,672 shares in the last quarter. Spurstone Advisory Services LLC bought a new position in shares of Smith & Wesson Brands during the 4th quarter valued at about $47,000. Byrne Asset Management LLC lifted its holdings in shares of Smith & Wesson Brands by 145.0% during the 1st quarter. Byrne Asset Management LLC now owns 5,391 shares of the company's stock valued at $50,000 after purchasing an additional 3,191 shares in the last quarter. Finally, Caption Management LLC bought a new position in shares of Smith & Wesson Brands during the 4th quarter valued at about $51,000. Institutional investors own 59.33% of the company's stock.

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.

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