American Outdoor Brands (NASDAQ:AOUT) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

American Outdoor Brands (NASDAQ:AOUT) issued its earnings results on Tuesday. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.17 by $0.07, Zacks reports. American Outdoor Brands had a negative net margin of 2.16% and a positive return on equity of 2.00%.

American Outdoor Brands Stock Up 6.9%

AOUT traded up $0.50 during trading hours on Tuesday, hitting $7.70. 248,116 shares of the company’s stock were exchanged, compared to its average volume of 82,458. The stock has a market cap of $97.48 million, a price-to-earnings ratio of -20.81 and a beta of 0.44. American Outdoor Brands has a 1-year low of $6.26 and a 1-year high of $17.91. The stock’s 50-day moving average is $7.22 and its two-hundred day moving average is $9.08.

Wall Street Analysts Forecast Growth

AOUT has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Outdoor Brands in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of American Outdoor Brands from a “hold” rating to a “sell” rating in a research note on Sunday, November 2nd. Finally, Zacks Research downgraded shares of 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 company’s stock. According to data from MarketBeat, American Outdoor Brands currently has an average rating of “Reduce” and an average price target of $19.00.

American Outdoor Brands announced that its Board of Directors has approved 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 reacquire up to 9.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On American Outdoor Brands

A number of large investors have recently modified their holdings of AOUT. Comerica Bank raised its stake in American Outdoor Brands by 203.6% in the third quarter. Comerica Bank now owns 3,504 shares of the company’s stock valued at $30,000 after buying an additional 2,350 shares during the period. Bank of America Corp DE increased its holdings in shares of American Outdoor Brands by 505.6% during the 2nd quarter. Bank of America Corp DE now owns 5,372 shares of the company’s stock worth $56,000 after acquiring an additional 4,485 shares during the last quarter. JPMorgan Chase & Co. raised its stake in American Outdoor Brands by 4,535.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,934 shares of the company’s stock valued at $62,000 after acquiring an additional 5,806 shares during the period. Raymond James Financial Inc. acquired a new stake in American Outdoor Brands during the 2nd quarter valued at $64,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in American Outdoor Brands during the second quarter worth $70,000. 49.87% of the stock is currently owned by institutional investors and hedge funds.

About American Outdoor Brands

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.