Wall Street Zen Upgrades American Outdoor Brands (NASDAQ:AOUT) to Hold

American Outdoor Brands (NASDAQ:AOUT) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other research analysts have also issued reports about the company. Lake Street Capital reissued a “buy” rating and issued a $19.00 price objective (down from $20.00) on shares of American Outdoor Brands in a report on Friday, June 27th. Zacks Research lowered American Outdoor Brands from a “hold” rating to a “strong sell” rating in a report on Monday, September 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of American Outdoor Brands in a report on Friday. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $19.00.

American Outdoor Brands Stock Performance

American Outdoor Brands stock opened at $7.60 on Friday. The stock has a 50-day moving average of $8.79 and a two-hundred day moving average of $10.11. American Outdoor Brands has a one year low of $7.18 and a one year high of $17.91. The stock has a market cap of $96.22 million, a PE ratio of -20.54 and a beta of 0.30.

American Outdoor Brands (NASDAQ:AOUT) last released its quarterly earnings results on Tuesday, April 18th. The company reported $0.52 EPS for the quarter. American Outdoor Brands had a positive return on equity of 2.00% and a negative net margin of 2.16%.The company had revenue of $70.11 million during the quarter. As a group, sell-side analysts predict that American Outdoor Brands will post 0.36 EPS for the current fiscal year.

American Outdoor Brands announced that its board has approved a stock repurchase program on Thursday, October 2nd that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 9.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of American Outdoor Brands

Hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. grew its holdings in American Outdoor Brands by 307.6% during the first quarter. American Century Companies Inc. now owns 105,838 shares of the company’s stock worth $1,287,000 after acquiring an additional 79,869 shares during the period. Acadian Asset Management LLC grew its holdings in American Outdoor Brands by 82.4% during the first quarter. Acadian Asset Management LLC now owns 157,704 shares of the company’s stock worth $1,913,000 after acquiring an additional 71,229 shares during the period. Goldman Sachs Group Inc. grew its holdings in American Outdoor Brands by 58.7% during the first quarter. Goldman Sachs Group Inc. now owns 60,110 shares of the company’s stock worth $731,000 after acquiring an additional 22,232 shares during the period. Ritholtz Wealth Management acquired a new stake in American Outdoor Brands during the second quarter worth about $141,000. Finally, Gabelli Funds LLC grew its holdings in American Outdoor Brands by 9.4% during the first quarter. Gabelli Funds LLC now owns 69,756 shares of the company’s stock worth $848,000 after acquiring an additional 6,020 shares during the period. 49.87% of the stock is 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.