American Outdoor Brands (NASDAQ:AOUT) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen has downgraded American Outdoor Brands (NASDAQ:AOUT) from a "buy" rating to a "hold" rating.
• Despite the downgrade, Lake Street Capital maintains a "buy" rating with a revised target price of $19.00, down from $20.00.
• The stock has experienced an 18.1% decline recently, currently trading at $8.52, with a twelve-month low of $8.10.

Wall Street Zen lowered shares of American Outdoor Brands (NASDAQ:AOUT - Free Report) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Separately, Lake Street Capital reissued a "buy" rating and set a $19.00 price target (down previously from $20.00) on shares of American Outdoor Brands in a research report on Friday, June 27th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $15.00.

American Outdoor Brands Stock Down 0.4%

Shares of American Outdoor Brands stock traded down $0.03 during trading hours on Friday, reaching $8.28. 37,058 shares of the company's stock were exchanged, compared to its average volume of 81,381. The business has a fifty day moving average of $9.73 and a two-hundred day moving average of $11.27. The company has a market capitalization of $104.77 million, a P/E ratio of -22.38 and a beta of 0.39. American Outdoor Brands has a 1 year low of $8.10 and a 1 year high of $17.91.

American Outdoor Brands (NASDAQ:AOUT - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.15. American Outdoor Brands had a negative net margin of 2.16% and a positive return on equity of 2.00%. The firm had revenue of $61.94 million for the quarter, compared to analysts' expectations of $48.46 million. As a group, research analysts predict that American Outdoor Brands will post 0.36 EPS for the current year.

Hedge Funds Weigh In On American Outdoor Brands

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position in American Outdoor Brands by 170.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,547 shares of the company's stock valued at $27,000 after buying an additional 1,606 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of American Outdoor Brands during the 2nd quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in American Outdoor Brands during the fourth quarter worth $77,000. Bank of America Corp DE raised its stake in shares of American Outdoor Brands by 505.6% during the 2nd quarter. Bank of America Corp DE now owns 5,372 shares of the company's stock worth $56,000 after buying an additional 4,485 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of American Outdoor Brands by 4,535.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,934 shares of the company's stock worth $62,000 after buying an additional 5,806 shares during the last quarter. 49.87% of the stock is currently owned by hedge funds and other institutional investors.

American Outdoor Brands Company Profile

American Outdoor Brands, Inc provides outdoor products and accessories for rugged outdoor enthusiasts in the United States and internationally. It offers hunting, fishing, camping, shooting, and personal security and defense products. The company also provides shooting sports accessories products include rests, vaults, and other related accessories; outdoor lifestyle products, such as premium sportsmen knives and tools for fishing and hunting; land management tools for hunting preparedness; harvesting products for post-hunt or post-fishing activities; outdoor cooking products; and camping, survival, and emergency preparedness products.