Outdoor (NASDAQ:POWW) Upgraded by Zacks Research to “Strong-Buy” Rating

Outdoor (NASDAQ:POWW) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

POWW has been the subject of several other research reports. Roth Mkm upped their price objective on shares of Outdoor from $2.30 to $2.75 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings cut Outdoor from a “sell (d+)” rating to a “sell (d-)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2.62.

Outdoor Trading Down 6.0%

Shares of POWW opened at $2.20 on Wednesday. Outdoor has a 52-week low of $1.08 and a 52-week high of $2.45. The company has a quick ratio of 4.00, a current ratio of 3.96 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average is $2.04 and its two-hundred day moving average is $1.96. The stock has a market cap of $255.55 million, a PE ratio of -44.00 and a beta of 1.05.

Outdoor (NASDAQ:POWW) last released its earnings results on Monday, June 22nd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The business had revenue of $13.89 million for the quarter, compared to analysts’ expectations of $12.70 million. Outdoor had a positive return on equity of 1.89% and a negative net margin of 6.92%. Research analysts forecast that Outdoor will post -0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Outdoor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in POWW. BNP Paribas Financial Markets lifted its stake in shares of Outdoor by 101.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 18,437 shares of the company’s stock valued at $27,000 after purchasing an additional 9,283 shares during the last quarter. Renaissance Technologies LLC lifted its position in Outdoor by 1.9% in the fourth quarter. Renaissance Technologies LLC now owns 576,000 shares of the company’s stock valued at $985,000 after buying an additional 10,800 shares during the last quarter. Geode Capital Management LLC lifted its position in Outdoor by 0.6% in the second quarter. Geode Capital Management LLC now owns 2,134,270 shares of the company’s stock valued at $2,733,000 after buying an additional 11,729 shares during the last quarter. Barclays PLC boosted its stake in Outdoor by 10.6% during the fourth quarter. Barclays PLC now owns 135,012 shares of the company’s stock worth $231,000 after buying an additional 12,952 shares during the period. Finally, Focus Partners Wealth boosted its stake in Outdoor by 2.5% during the first quarter. Focus Partners Wealth now owns 545,742 shares of the company’s stock worth $753,000 after buying an additional 13,130 shares during the period. Institutional investors and hedge funds own 26.40% of the company’s stock.

Outdoor Company Profile

AMMO, Inc designs, produces, and markets ammunition and ammunition component products for sport and recreational shooters, hunters, individuals seeking home or personal protection, manufacturers, and law enforcement and military agencies. The company's products include STREAK Visual Ammunition that enables shooters to see the path of the bullets fired by them; and Stelth Subsonic ammunition primarily for suppressed firearms. It also owns and operates GunBroker.com, an auction site that supports the lawful sale of firearms, ammunition, and hunting/shooting accessories.