Smith & Wesson Brands (NASDAQ:SWBI) Stock Rating Lowered by Zacks Investment Research

Smith & Wesson Brands (NASDAQ:SWBI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Smith & Wesson Brands, Inc. designs, manufactures and sells firearms. The Company offers pistols, revolvers, rifles, handcuffs and other related products and accessories under the Smith & Wesson, M&P, Performance Center, Thompson/Center Arms and Gemtech brands. Smith & Wesson Brands, Inc., formerly known as American Outdoor Brands Corporation, is based in Springfield, Massachusetts. “

A number of other analysts have also commented on the company. Lake Street Capital decreased their price objective on Smith & Wesson Brands from $43.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, December 3rd. Cowen lowered Smith & Wesson Brands from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $38.00 to $22.00 in a research note on Friday, December 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Smith & Wesson Brands currently has an average rating of “Hold” and an average target price of $26.00.

Smith & Wesson Brands stock opened at $17.46 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.06 and a current ratio of 3.22. The firm has a market capitalization of $843.23 million, a price-to-earnings ratio of 3.21 and a beta of 0.85. Smith & Wesson Brands has a fifty-two week low of $14.50 and a fifty-two week high of $39.61. The stock’s fifty day moving average is $19.62 and its two-hundred day moving average is $22.28.

Smith & Wesson Brands (NASDAQ:SWBI) last posted its earnings results on Thursday, December 2nd. The company reported $1.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.29 by ($0.16). The firm had revenue of $230.48 million during the quarter, compared to analyst estimates of $264.98 million. Smith & Wesson Brands had a net margin of 25.72% and a return on equity of 98.57%. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period last year, the company posted $0.93 EPS. As a group, sell-side analysts forecast that Smith & Wesson Brands will post 4.57 EPS for the current fiscal year.

In other Smith & Wesson Brands news, insider Mark Peter Smith purchased 3,076 shares of the firm’s stock in a transaction on Monday, December 6th. The shares were purchased at an average cost of $16.51 per share, with a total value of $50,784.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.84% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Dark Forest Capital Management LP purchased a new position in shares of Smith & Wesson Brands in the 2nd quarter worth about $26,000. Rockefeller Capital Management L.P. raised its holdings in shares of Smith & Wesson Brands by 233.3% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,000 shares of the company’s stock worth $34,000 after purchasing an additional 700 shares during the period. Eagle Bay Advisors LLC raised its holdings in shares of Smith & Wesson Brands by 57.7% in the 3rd quarter. Eagle Bay Advisors LLC now owns 1,432 shares of the company’s stock worth $28,000 after purchasing an additional 524 shares during the period. NEXT Financial Group Inc raised its holdings in shares of Smith & Wesson Brands by 81.0% in the 3rd quarter. NEXT Financial Group Inc now owns 2,170 shares of the company’s stock worth $45,000 after purchasing an additional 971 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of Smith & Wesson Brands by 91.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,200 shares of the company’s stock worth $46,000 after purchasing an additional 1,050 shares during the period. Institutional investors own 58.27% of the company’s stock.

About Smith & Wesson Brands

Smith & Wesson Brands, Inc is a holding company, which engages in the manufacture, design, and provision of firearms. Its portfolio includes handguns, long guns, handcuffs, suppressor, and other firearm-related products. The firm’s brands are Smith & Wesson, M&P, Thompson/Center Arms, and Gemtech. The company was founded by Horace Smith and Daniel Baird Wesson in 1852 and is headquartered in Springfield, MA.

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