Smith & Wesson Brands (NASDAQ:SWBI) Hits New 52-Week High at $19.88

Smith & Wesson Brands (NASDAQ:SWBI)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $19.88 and last traded at $19.63, with a volume of 14626 shares changing hands. The stock had previously closed at $19.41.

Several brokerages have recently issued reports on SWBI. Lake Street Capital increased their price objective on shares of Smith & Wesson Brands from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, June 19th. Zacks Investment Research raised shares of Smith & Wesson Brands from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, June 16th. Wedbush increased their price objective on shares of Smith & Wesson Brands from $8.50 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Finally, Craig Hallum increased their price objective on shares of Smith & Wesson Brands from $14.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th.

The company has a market cap of $1.08 billion, a P/E ratio of -19.21 and a beta of 0.68. The company has a current ratio of 3.05, a quick ratio of 1.78 and a debt-to-equity ratio of 0.51.

Smith & Wesson Brands (NASDAQ:SWBI) last announced its quarterly earnings results on Thursday, June 18th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.17. The firm had revenue of $233.64 million during the quarter, compared to analysts’ expectations of $207.91 million. Smith & Wesson Brands had a negative net margin of 9.03% and a positive return on equity of 10.26%. The company’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 earnings per share. As a group, equities research analysts expect that Smith & Wesson Brands will post 1.77 earnings per share for the current fiscal year.

In other news, insider Susan Jean Cupero sold 1,385 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $18.28, for a total value of $25,317.80. Following the transaction, the insider now directly owns 15,866 shares of the company’s stock, valued at $290,030.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.68% of the stock is owned by corporate insiders.

A hedge fund recently bought a new stake in Smith & Wesson Brands stock. Royal Bank of Canada bought a new stake in Smith & Wesson Brands (NASDAQ:SWBI) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,699 shares of the company’s stock, valued at approximately $31,000. 67.00% of the stock is owned by hedge funds and other institutional investors.

About Smith & Wesson Brands (NASDAQ:SWBI)

Smith & Wesson Brands, Inc is a holding company, which engages in the manufacture, design, and provision of firearms. It operates through the Firearms and Outdoor Products & Accessories segments. The Firearms segment comprises the manufacture of handguns, long guns, handcuffs, suppressors, and other firearm-related products for sale to a wide variety of customers.

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