Wedbush upgraded shares of American Outdoor Brands Corporation (NASDAQ:AOBC) from a neutral rating to an outperform rating in a report issued on Monday morning, MarketBeat reports. Wedbush currently has $19.50 target price on the stock, up from their prior target price of $16.00. Wedbush also issued estimates for American Outdoor Brands Corporation’s Q2 2018 earnings at $0.08 EPS, Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.59 EPS, FY2018 earnings at $1.09 EPS and FY2019 earnings at $1.62 EPS.

“far from satisfied” with their existing gun purchases, Hardiman commented in his upgrade note. In fact, gun owners anticipate an “even higher level” of gun purchases over the next year compared to the last year.”While our upgrade may ultimately be seen as “early” given how much work is left to be done in the channel, there are a number of unpredictable catalysts that could accelerate this recovery, and we believe that AOBC’s valuation is approaching the low-end of its likely range,” Hardiman wrote.Meanwhile, the Republican-dominated government and Trump presidency “poses no threat” to the gun industry as opposed to prior months when gun owners bought guns out of urgency, the analyst continued (see his track record here). Naturally, this created a slowdown in gun sales, but now avid gun owners are expected to return to the market, which will create “support levels for industry-wide firearm purchases and gun stocks.,” Wedbush’s analyst commented.

Several other research analysts also recently issued reports on the stock. Aegis reiterated a buy rating and set a $23.00 price target on shares of American Outdoor Brands Corporation in a report on Wednesday, September 20th. Jefferies Group LLC reiterated a hold rating and set a $17.00 price target on shares of American Outdoor Brands Corporation in a report on Wednesday, September 20th. Craig Hallum reiterated a hold rating and set a $17.00 price target on shares of American Outdoor Brands Corporation in a report on Wednesday, September 20th. Forward View upgraded shares of American Outdoor Brands Corporation from a hold rating to a buy rating in a report on Tuesday, September 12th. Finally, TheStreet downgraded shares of American Outdoor Brands Corporation from a b rating to a c rating in a report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $19.68.

American Outdoor Brands Corporation (NASDAQ:AOBC) opened at 15.78 on Monday. The company has a market capitalization of $852.14 million, a price-to-earnings ratio of 9.78 and a beta of 0.11. American Outdoor Brands Corporation has a 12 month low of $13.28 and a 12 month high of $28.57. The firm has a 50-day moving average price of $17.43 and a 200-day moving average price of $20.51.

American Outdoor Brands Corporation (NASDAQ:AOBC) last announced its quarterly earnings data on Thursday, September 7th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.09). American Outdoor Brands Corporation had a net margin of 10.96% and a return on equity of 27.91%. The firm had revenue of $129.02 million for the quarter, compared to analyst estimates of $147.24 million. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The firm’s revenue for the quarter was down 37.7% on a year-over-year basis. On average, equities analysts anticipate that American Outdoor Brands Corporation will post $1.14 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers acquired a new stake in American Outdoor Brands Corporation in the second quarter valued at $1,070,000. Raymond James Financial Services Advisors Inc. increased its holdings in American Outdoor Brands Corporation by 133.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 23,199 shares of the company’s stock valued at $514,000 after purchasing an additional 92,246 shares during the period. Tower Research Capital LLC TRC acquired a new stake in American Outdoor Brands Corporation in the second quarter valued at $108,000. The Manufacturers Life Insurance Company increased its holdings in American Outdoor Brands Corporation by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 43,111 shares of the company’s stock valued at $955,000 after purchasing an additional 1,039 shares during the period. Finally, State Street Corp increased its holdings in American Outdoor Brands Corporation by 6.7% in the second quarter. State Street Corp now owns 1,036,174 shares of the company’s stock valued at $22,962,000 after purchasing an additional 64,749 shares during the period. Institutional investors and hedge funds own 72.53% of the company’s stock.

American Outdoor Brands Corporation Company Profile

American Outdoor Brands Corporation, formerly Smith & Wesson Holding Corporation, is a manufacturer of firearms and a provider of accessory products for the shooting, hunting and outdoor enthusiast. The Company operates through two segments. The Firearms segment manufactures handgun and long gun products sold under the Smith & Wesson, M&P and Thompson/Center Arms brands, as well as providing forging, machining and precision plastic injection molding services.

Analyst Recommendations for American Outdoor Brands Corporation (NASDAQ:AOBC)

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