Stock Buyback Program Approved by Outdoor (NASDAQ:POWW) Board of Directors

Outdoor (NASDAQ:POWW) declared that its board has approved a share repurchase program on Monday, January 5th, RTT News reports. The company plans to buyback $15.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 7.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on POWW. Roth Capital upgraded shares of Outdoor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $1.40 to $2.25 in a report on Wednesday, November 12th. Lake Street Capital boosted their price target on shares of Outdoor from $2.00 to $2.50 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Outdoor in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2.38.

Outdoor Stock Performance

Shares of POWW stock traded up $0.09 on Monday, reaching $1.76. The stock had a trading volume of 473,911 shares, compared to its average volume of 281,720. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.44 and a current ratio of 3.44. The company has a 50 day simple moving average of $1.80 and a 200 day simple moving average of $1.52. The stock has a market cap of $206.11 million, a P/E ratio of -8.80 and a beta of 1.14. Outdoor has a 1 year low of $1.08 and a 1 year high of $2.14.

Outdoor (NASDAQ:POWW) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.06. The business had revenue of $11.98 million during the quarter, compared to analysts’ expectations of $11.63 million. Equities research analysts expect that Outdoor will post 0.09 EPS for the current year.

About Outdoor

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.