Smith & Wesson Brands (NASDAQ:SWBI) Shares Down 3.5%

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) shares were down 3.5% during mid-day trading on Thursday . The company traded as low as $23.43 and last traded at $23.60. Approximately 3,532 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 3,513,470 shares. The stock had previously closed at $24.46.

A number of analysts have issued reports on SWBI shares. Lake Street Capital raised their target price on Smith & Wesson Brands from $34.00 to $43.00 and gave the company a “buy” rating in a report on Monday, June 21st. Cowen raised their target price on Smith & Wesson Brands from $24.00 to $30.50 and gave the stock an “outperform” rating in a research report on Friday, June 18th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Smith & Wesson Brands currently has a consensus rating of “Buy” and a consensus price target of $26.50.

The company has a market cap of $1.14 billion, a price-to-earnings ratio of 5.23 and a beta of 0.90. The company has a current ratio of 2.13, a quick ratio of 1.51 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average price of $24.44.

Smith & Wesson Brands (NASDAQ:SWBI) last posted its earnings results on Wednesday, June 16th. The company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.02 by $0.69. Smith & Wesson Brands had a return on equity of 88.85% and a net margin of 22.76%. The company had revenue of $322.95 million for the quarter, compared to the consensus estimate of $259.80 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. The firm’s revenue for the quarter was up 67.3% on a year-over-year basis. As a group, equities research analysts forecast that Smith & Wesson Brands, Inc. will post 4.39 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 6th. Stockholders of record on Thursday, July 1st were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.35%. This is a boost from Smith & Wesson Brands’s previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, June 30th. Smith & Wesson Brands’s dividend payout ratio is presently 7.06%.

In related news, insider Deana L. Mcpherson sold 5,102 shares of the firm’s stock in a transaction dated Monday, June 21st. The shares were sold at an average price of $25.00, for a total value of $127,550.00. Following the transaction, the insider now owns 64,360 shares of the company’s stock, valued at approximately $1,609,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Barry M. Monheit sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 21st. The shares were sold at an average price of $27.65, for a total transaction of $276,500.00. Following the completion of the transaction, the director now directly owns 44,002 shares in the company, valued at approximately $1,216,655.30. The disclosure for this sale can be found here. Insiders sold 26,636 shares of company stock valued at $772,731 over the last 90 days. 2.59% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of SWBI. BlackRock Inc. grew its position in shares of Smith & Wesson Brands by 1.7% during the 1st quarter. BlackRock Inc. now owns 4,808,469 shares of the company’s stock valued at $83,906,000 after purchasing an additional 79,646 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Smith & Wesson Brands by 2.3% during the first quarter. Prudential Financial Inc. now owns 2,443,844 shares of the company’s stock valued at $42,645,000 after buying an additional 54,272 shares during the period. Geode Capital Management LLC grew its holdings in Smith & Wesson Brands by 10.5% in the first quarter. Geode Capital Management LLC now owns 932,783 shares of the company’s stock worth $16,277,000 after purchasing an additional 88,928 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of Smith & Wesson Brands by 113.6% in the first quarter. Nuveen Asset Management LLC now owns 575,013 shares of the company’s stock worth $10,034,000 after buying an additional 305,761 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Smith & Wesson Brands by 19.5% in the first quarter. Goldman Sachs Group Inc. now owns 406,680 shares of the company’s stock worth $7,096,000 after buying an additional 66,280 shares in the last quarter. 62.97% of the stock is currently owned by hedge funds and other institutional investors.

About Smith & Wesson Brands (NASDAQ:SWBI)

Smith & Wesson Brands, Inc designs, manufactures, and sells firearms worldwide. The company offers handguns, including revolvers and pistols; long guns, such as modern sporting rifles, bolt action rifles, and muzzleloaders; handcuffs; suppressors; and other firearm-related products under the Smith & Wesson, M&P, Performance Center, Thompson/Center Arms, and Gemtech brands.

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