Outdoor (NASDAQ:POWW) to Repurchase $15.00 million in Stock

Outdoor (NASDAQ:POWW) announced that its Board of Directors has authorized a stock buyback program on Monday, January 5th, RTT News reports. The company plans to buyback $15.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on POWW. Weiss Ratings reissued a “sell (d)” rating on shares of Outdoor in a report on Monday, December 29th. Roth Capital raised Outdoor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $1.40 to $2.25 in a research note on Wednesday, November 12th. Finally, Lake Street Capital increased their target price on Outdoor from $2.00 to $2.50 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Outdoor has a consensus rating of “Hold” and an average price target of $2.38.

Outdoor Trading Up 0.6%

Shares of NASDAQ POWW opened at $1.77 on Wednesday. Outdoor has a fifty-two week low of $1.08 and a fifty-two week high of $2.14. The firm has a market capitalization of $207.28 million, a P/E ratio of -8.85 and a beta of 1.14. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.44 and a quick ratio of 3.44. The company’s 50 day simple moving average is $1.80 and its 200 day simple moving average is $1.52.

Outdoor (NASDAQ:POWW) last issued its earnings results on Monday, November 10th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.06. The business had revenue of $11.98 million for the quarter, compared to the consensus estimate of $11.63 million. On average, analysts predict that Outdoor will post 0.09 EPS for the current year.

About Outdoor

AMMO, Inc designs, produces, and markets ammunition and ammunition component products for sport and recreational shooters, hunters, individuals seeking home or personal protection, manufacturers, and law enforcement and military agencies. The company's products include STREAK Visual Ammunition that enables shooters to see the path of the bullets fired by them; and Stelth Subsonic ammunition primarily for suppressed firearms. It also owns and operates GunBroker.com, an auction site that supports the lawful sale of firearms, ammunition, and hunting/shooting accessories.