American Outdoor Brands (NASDAQ:AOUT) Trading 3.3% Higher – Here’s What Happened

American Outdoor Brands, Inc. (NASDAQ:AOUT)’s share price shot up 3.3% during mid-day trading on Monday . The stock traded as high as $8.69 and last traded at $8.18. 98,335 shares traded hands during trading, an increase of 7% from the average session volume of 91,948 shares. The stock had previously closed at $7.92.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AOUT. Wall Street Zen raised shares of American Outdoor Brands from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Zacks Research downgraded American Outdoor Brands from a “hold” rating to a “strong sell” rating in a report on Monday, September 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of American Outdoor Brands in a research note on Monday, December 29th. Lake Street Capital decreased their price objective on American Outdoor Brands from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Finally, Roth Capital dropped their target price on American Outdoor Brands from $11.50 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.50.

American Outdoor Brands Trading Up 3.3%

The company has a market capitalization of $102.99 million, a PE ratio of -18.18 and a beta of 0.38. The company’s 50 day moving average price is $7.30 and its 200-day moving average price is $8.57.

American Outdoor Brands (NASDAQ:AOUT) last issued its earnings results on Tuesday, April 18th. The company reported $0.52 earnings per share for the quarter. American Outdoor Brands had a positive return on equity of 1.25% and a negative net margin of 2.69%.The firm had revenue of $70.11 million for the quarter. As a group, analysts predict that American Outdoor Brands, Inc. will post 0.36 earnings per share for the current year.

American Outdoor Brands declared that its board has approved a share repurchase program on Thursday, October 2nd that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 9.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. purchased a new stake in American Outdoor Brands during the first quarter worth approximately $163,000. Goldman Sachs Group Inc. lifted its holdings in shares of American Outdoor Brands by 58.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 60,110 shares of the company’s stock valued at $731,000 after acquiring an additional 22,232 shares in the last quarter. Empowered Funds LLC boosted its position in American Outdoor Brands by 8.4% during the 1st quarter. Empowered Funds LLC now owns 25,399 shares of the company’s stock worth $309,000 after purchasing an additional 1,972 shares during the period. Jane Street Group LLC boosted its position in American Outdoor Brands by 76.5% during the 1st quarter. Jane Street Group LLC now owns 53,240 shares of the company’s stock worth $647,000 after purchasing an additional 23,070 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in American Outdoor Brands by 82.4% in the 1st quarter. Acadian Asset Management LLC now owns 157,704 shares of the company’s stock valued at $1,913,000 after purchasing an additional 71,229 shares in the last quarter. Hedge funds and other institutional investors own 49.87% of the company’s stock.

About American Outdoor Brands

American Outdoor Brands, Inc designs, manufactures and distributes a broad range of outdoor sports and recreational products for consumers and commercial end users. Through its Shooting & Accessories and Functional Outdoor Approaches segments, the company offers shooting sports equipment, hunting and fishing accessories, archery gear, tactical and personal defense solutions, outdoor apparel, fitness products and knife and tool categories. Its portfolio encompasses well-known brands such as Wheeler®, Tipton®, Caldwell®, Hogue®, Manticore Arms® and other specialty labels.

Formed as a standalone public company in 2016 following a spin-off from Smith & Wesson, American Outdoor Brands has its headquarters in Columbia, Missouri, with manufacturing, distribution and sales operations across North America.