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

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 on Saturday.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Outdoor Brands in a research note on Wednesday, October 8th. Lake Street Capital reduced their target price on American Outdoor Brands from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Zacks Research lowered 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $14.00.

American Outdoor Brands Stock Performance

American Outdoor Brands stock opened at $7.89 on Friday. The stock has a market capitalization of $99.34 million, a price-to-earnings ratio of -17.53 and a beta of 0.44. American Outdoor Brands has a 52-week low of $6.26 and a 52-week high of $17.91. The stock’s 50 day moving average price is $7.17 and its two-hundred day moving average price is $8.97.

American Outdoor Brands (NASDAQ:AOUT) last released its quarterly earnings data on Tuesday, April 18th. The company reported $0.52 earnings per share for the quarter. American Outdoor Brands had a negative net margin of 2.69% and a positive return on equity of 1.25%. The company had revenue of $70.11 million during the quarter. On average, equities research analysts forecast that American Outdoor Brands will post 0.36 EPS for the current year.

American Outdoor Brands announced that its board has authorized a share buyback program on Thursday, October 2nd that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 9.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On American Outdoor Brands

A number of hedge funds have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP raised its stake in shares of American Outdoor Brands by 6.5% in the second quarter. Brandes Investment Partners LP now owns 1,219,798 shares of the company’s stock worth $12,747,000 after purchasing an additional 74,107 shares during the last quarter. Royce & Associates LP grew its holdings in American Outdoor Brands by 16.0% during the third quarter. Royce & Associates LP now owns 859,233 shares of the company’s stock worth $7,458,000 after buying an additional 118,604 shares in the last quarter. Geode Capital Management LLC raised its position in American Outdoor Brands by 104.7% in the 2nd quarter. Geode Capital Management LLC now owns 293,683 shares of the company’s stock valued at $3,070,000 after buying an additional 150,202 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in American Outdoor Brands by 2.0% during the 3rd quarter. Gamco Investors INC. ET AL now owns 288,713 shares of the company’s stock valued at $2,506,000 after acquiring an additional 5,600 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in American Outdoor Brands by 82.4% during the 1st quarter. Acadian Asset Management LLC now owns 157,704 shares of the company’s stock worth $1,913,000 after acquiring an additional 71,229 shares during the last quarter. Institutional investors and hedge funds 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.