American Outdoor Brands (NASDAQ:AOUT) Stock Bumped Up to Strong-Buy by Zacks Research

Zacks Research upgraded shares of American Outdoor Brands (NASDAQ:AOUT) from a hold rating to a strong-buy rating in a research note released on Wednesday morning,Zacks reports.

A number of other analysts have also commented on AOUT. Roth Capital reaffirmed a “buy” rating and set a $17.00 price objective (up from $13.50) on shares of American Outdoor Brands in a research note on Friday, September 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Outdoor Brands in a research note on Monday. Lake Street Capital reissued a “buy” rating and issued a $16.00 price objective on shares of American Outdoor Brands in a research report on Friday, September 4th. Finally, Wall Street Zen raised shares of American Outdoor Brands from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

American Outdoor Brands Price Performance

Shares of AOUT opened at $17.03 on Wednesday. American Outdoor Brands has a 1-year low of $6.26 and a 1-year high of $17.31. The stock has a market cap of $214.92 million, a price-to-earnings ratio of -54.94 and a beta of 0.27. The firm has a 50 day simple moving average of $13.14 and a 200-day simple moving average of $11.15.

American Outdoor Brands (NASDAQ:AOUT) last announced its earnings results on Thursday, September 3rd. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.27. The firm had revenue of $37.25 million for the quarter, compared to analysts’ expectations of $35.64 million. American Outdoor Brands had a positive return on equity of 2.88% and a negative net margin of 1.97%. On average, equities analysts expect that American Outdoor Brands will post 0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American Outdoor Brands

Large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of American Outdoor Brands in the 2nd quarter worth $3,270,000. Susquehanna International Group LLP grew its position in American Outdoor Brands by 357.0% during the second quarter. Susquehanna International Group LLP now owns 74,844 shares of the company’s stock valued at $879,000 after acquiring an additional 58,466 shares during the period. Ancora Advisors LLC purchased a new stake in American Outdoor Brands during the second quarter valued at about $1,043,000. Corient Private Wealth LLC increased its stake in American Outdoor Brands by 422.9% during the fourth quarter. Corient Private Wealth LLC now owns 169,000 shares of the company’s stock worth $1,306,000 after acquiring an additional 136,680 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in American Outdoor Brands during the second quarter worth about $431,000. Hedge funds and other institutional investors own 49.87% of the company’s stock.

About American Outdoor Brands

American Outdoor Brands, Inc is an outdoor products company that develops, manufactures and sells equipment and accessories for shooting, hunting, fishing, camping and other outdoor activities. Its product portfolio includes shooting accessories, optics and mounts, knives and tools, game-processing equipment, hunting gear, fishing products, coolers and camping accessories.

The company markets its products under a portfolio of recognized outdoor brands, including Caldwell, Crimson Trace, BOG, Old Timer, Schrade, UST and Hooyman.