Wall Street Zen Upgrades American Outdoor Brands (NASDAQ:AOUT) to Hold

American Outdoor Brands (NASDAQ:AOUT) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other analysts have also commented on the company. Lake Street Capital reissued a “buy” rating and issued a $19.00 price objective (down from $20.00) on shares of American Outdoor Brands in a report on Friday, June 27th. Weiss Ratings restated a “sell (d-)” rating on shares of American Outdoor Brands in a research report on Friday. Finally, Zacks Research downgraded American Outdoor Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, September 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, American Outdoor Brands presently has an average rating of “Reduce” and an average target price of $19.00.

American Outdoor Brands Trading Up 0.9%

Shares of AOUT opened at $7.60 on Friday. American Outdoor Brands has a 12 month low of $7.18 and a 12 month high of $17.91. The stock’s 50 day moving average is $8.79 and its two-hundred day moving average is $10.11. The firm has a market cap of $96.22 million, a P/E ratio of -20.54 and a beta of 0.30.

American Outdoor Brands (NASDAQ:AOUT) last issued its quarterly earnings data on Tuesday, April 18th. The company reported $0.52 EPS for the quarter. American Outdoor Brands had a positive return on equity of 2.00% and a negative net margin of 2.16%.The company had revenue of $70.11 million for the quarter. Equities research analysts forecast that American Outdoor Brands will post 0.36 EPS for the current year.

American Outdoor Brands declared that its board has authorized a stock repurchase plan on Thursday, October 2nd that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 9.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On American Outdoor Brands

A number of institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in American Outdoor Brands by 3.5% during the second quarter. Russell Investments Group Ltd. now owns 38,852 shares of the company’s stock worth $406,000 after buying an additional 1,296 shares in the last quarter. White Pine Capital LLC lifted its position in American Outdoor Brands by 1.9% during the second quarter. White Pine Capital LLC now owns 69,475 shares of the company’s stock worth $726,000 after buying an additional 1,322 shares in the last quarter. First Horizon Advisors Inc. lifted its position in American Outdoor Brands by 170.7% during the second quarter. First Horizon Advisors Inc. now owns 2,547 shares of the company’s stock worth $27,000 after buying an additional 1,606 shares in the last quarter. Empowered Funds LLC lifted its position in American Outdoor Brands by 8.4% during the first quarter. Empowered Funds LLC now owns 25,399 shares of the company’s stock worth $309,000 after buying an additional 1,972 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in American Outdoor Brands by 1.8% during the second quarter. Bridgeway Capital Management LLC now owns 124,386 shares of the company’s stock worth $1,300,000 after buying an additional 2,180 shares in the last quarter. Hedge funds and other institutional investors own 49.87% of the company’s stock.

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.