Smith & Wesson Brands (NASDAQ:SWBI) Stock Price Up 2.1% - Here's What Happened

Key Points

• Smith & Wesson Brands stock rose 2.1% on Thursday, trading as high as $15.36 before closing at $15.25 on lighter-than-usual volume.
• Analysts were mixed but slightly more positive, with Zacks and Weiss upgrading the stock to Hold and Lake Street Capital raising its price target to $16.50 while keeping a Buy rating. The consensus rating remains Hold.
• Recent earnings were strong, as the company reported $0.36 per share versus $0.23 expected and revenue of $178.39 million, up 26.7% year over year. Smith & Wesson also paid a quarterly dividend of $0.13, implying a 3.4% yield.

Smith & Wesson Brands, Inc. (NASDAQ:SWBI - Get Free Report) traded up 2.1% on Thursday . The company traded as high as $15.36 and last traded at $15.25. 442,344 shares traded hands during trading, a decline of 53% from the average session volume of 935,644 shares. The stock had previously closed at $14.93.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Smith & Wesson Brands to a "hold" rating in a report on Tuesday, June 23rd. Lake Street Capital increased their target price on shares of Smith & Wesson Brands from $14.00 to $16.50 and gave the company a "buy" rating in a report on Thursday, June 18th. Finally, Weiss Ratings upgraded shares of Smith & Wesson Brands from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, June 23rd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $16.50.

Smith & Wesson Brands Stock Up 2.1%

The company has a current ratio of 3.20, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $15.16 and a 200 day simple moving average of $13.62. The firm has a market capitalization of $682.13 million, a PE ratio of 38.13 and a beta of 0.84.

Smith & Wesson Brands (NASDAQ:SWBI - Get Free Report) last released its quarterly earnings data on Wednesday, June 17th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.13. Smith & Wesson Brands had a return on equity of 5.01% and a net margin of 3.53%.The firm had revenue of $178.39 million during the quarter, compared to analyst estimates of $155.27 million. During the same quarter in the prior year, the firm posted $0.20 earnings per share. The business's quarterly revenue was up 26.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Smith & Wesson Brands, Inc. will post 0.55 earnings per share for the current year.

Smith & Wesson Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, July 1st. Smith & Wesson Brands's dividend payout ratio (DPR) is 130.00%.

Hedge Funds Weigh In On Smith & Wesson Brands

Several hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. purchased a new stake in shares of Smith & Wesson Brands during the first quarter worth about $2,205,000. Empowered Funds LLC purchased a new position in Smith & Wesson Brands during the 1st quarter valued at about $250,000. Western Wealth Management LLC bought a new position in Smith & Wesson Brands during the 1st quarter valued at approximately $34,000. Quantinno Capital Management LP raised its position in Smith & Wesson Brands by 55.4% during the 1st quarter. Quantinno Capital Management LP now owns 64,781 shares of the company's stock valued at $928,000 after purchasing an additional 23,082 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Smith & Wesson Brands by 68.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 364,994 shares of the company's stock worth $5,230,000 after buying an additional 147,795 shares during the period. 59.33% of the stock is owned by institutional investors.

About Smith & Wesson Brands

Smith & Wesson Brands, Inc is a leading American manufacturer of firearms and related products, designing, producing and marketing a broad array of handguns, long guns and shooting accessories. The company’s portfolio includes revolvers, semi-automatic pistols and rifles under well-known brands such as M&P® (Military & Police) and Performance Center®, which are used by military, law enforcement, commercial and private customers. In addition to complete firearms, Smith & Wesson offers suppressors, optics mounts, holsters and other shooting accessories to support a full spectrum of professional and recreational shooting activities.

Founded in 1852 by Horace Smith and Daniel B.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.