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Smith & Wesson Holding Corp (NASDAQ:SWHC) was upgraded by Wedbush from a “neutral” rating to an “outperform” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $7.00 target price on the stock, down from their previous target price of $20.00. Wedbush’s target price suggests a potential downside of 53.58% from the stock’s previous close.

Shares of Smith & Wesson Holding Corp (NASDAQ:SWHC) traded up 3.18% on Tuesday, hitting $15.56. 841,844 shares of the company’s stock traded hands. Smith & Wesson Holding Corp has a 1-year low of $8.72 and a 1-year high of $16.20. The stock’s 50-day moving average is $14.88 and its 200-day moving average is $13.35. The company has a market cap of $855.0 million and a price-to-earnings ratio of 10.63.

Smith & Wesson Holding Corp (NASDAQ:SWHC) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $0.36 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.29 by $0.07. The company had revenue of $145.90 million for the quarter, compared to the consensus estimate of $142.70 million. During the same quarter last year, the company posted $0.26 earnings per share. Smith & Wesson Holding Corp’s revenue was up 7.1% compared to the same quarter last year. Analysts expect that Smith & Wesson Holding Corp will post $1.42 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at CRT Capital raised their price target on shares of Smith & Wesson Holding Corp from $16.00 to $18.00 in a research note on Thursday, May 8th. They now have a “buy” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Smith & Wesson Holding Corp from $16.00 to $17.00 in a research note on Monday, April 7th. Finally, analysts at Zacks upgraded shares of Smith & Wesson Holding Corp from a “neutral” rating to an “outperform” rating in a research note on Wednesday, March 26th. They now have a $15.30 price target on the stock. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $17.63.

Smith & Wesson Holding Corporation (NASDAQ:SWHC) is a manufacturer of firearms.

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