Vista Outdoor Inc. (VSTO) Announces Quarterly Earnings Results, Beats Estimates By $0.13 EPS
Vista Outdoor Inc. (NYSE:VSTO) issued its quarterly earnings data on Thursday. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.13. The firm earned $684 million during the quarter, compared to analysts’ expectations of $660.17 million. Vista Outdoor had a return on equity of 9.13% and a net margin of 5.96%. Vista Outdoor’s revenue was up 24.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. Vista Outdoor updated its FY17 guidance to $2.65-2.85 EPS.
Shares of Vista Outdoor (NYSE:VSTO) opened at 37.99 on Friday. The stock has a 50 day moving average price of $38.59 and a 200 day moving average price of $44.31. The stock has a market cap of $2.29 billion, a P/E ratio of 16.49 and a beta of 0.32. Vista Outdoor has a 12 month low of $37.00 and a 12 month high of $53.91.
Hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new stake in Vista Outdoor during the third quarter worth about $100,000. PNC Financial Services Group Inc. raised its stake in Vista Outdoor by 9.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,233 shares of the company’s stock worth $107,000 after buying an additional 188 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Vista Outdoor by 36.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,298 shares of the company’s stock worth $110,000 after buying an additional 611 shares during the last quarter. Glenmede Trust Co. NA raised its stake in shares of Vista Outdoor by 4.1% in the second quarter. Glenmede Trust Co. NA now owns 2,440 shares of the company’s stock valued at $116,000 after buying an additional 95 shares in the last quarter. Finally, Advisor Group Inc. purchased a new stake in shares of Vista Outdoor during the second quarter valued at about $119,000. Institutional investors own 90.43% of the company’s stock.
VSTO has been the subject of a number of analyst reports. Jefferies Group reissued a “buy” rating and issued a $54.00 price target on shares of Vista Outdoor in a report on Monday, October 17th. KeyCorp raised Vista Outdoor from a “sector weight” rating to an “overweight” rating and set a $48.00 price target for the company in a report on Tuesday, August 30th. Zacks Investment Research downgraded Vista Outdoor from a “buy” rating to a “hold” rating in a research report on Tuesday, August 16th. Morgan Stanley reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Vista Outdoor in a research report on Wednesday, August 17th. Finally, Wunderlich lowered their price objective on Vista Outdoor from $60.00 to $52.00 and set a “buy” rating for the company in a research report on Monday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Vista Outdoor currently has an average rating of “Buy” and a consensus price target of $51.60.
About Vista Outdoor
Vista Outdoor Inc is a designer, manufacturer and marketer of consumer products in the outdoor sports and recreation markets. The Company operates through two segments: Shooting Sports and Outdoor Products. The Company’s Shooting Sports segment designs, develops, produces and sources ammunition and firearms for the hunting and sport shooting enthusiast markets, as well as ammunition for local law enforcement, the United States Government and international markets.
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