American Outdoor Brands (NASDAQ:AOUT) Shares Up 0.6% – Should You Buy?

American Outdoor Brands, Inc. (NASDAQ:AOUT)’s stock price rose 0.6% on Tuesday . The company traded as high as $9.07 and last traded at $8.65. Approximately 31,446 shares were traded during trading, a decline of 47% from the average daily volume of 59,153 shares. The stock had previously closed at $8.60.

Wall Street Analysts Forecast Growth

AOUT has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Outdoor Brands in a report on Monday, December 29th. Roth Mkm decreased their target price on American Outdoor Brands from $11.50 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. Lake Street Capital reduced their target price on American Outdoor Brands from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Finally, Wall Street Zen raised American Outdoor Brands from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.50.

American Outdoor Brands Price Performance

The company has a market cap of $108.88 million, a PE ratio of -19.22 and a beta of 0.38. The stock has a fifty day moving average price of $8.02 and a 200-day moving average price of $8.40.

American Outdoor Brands announced that its Board of Directors has initiated a stock repurchase program on Thursday, October 2nd that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the company to purchase up to 9.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On American Outdoor Brands

A number of large investors have recently made changes to their positions in AOUT. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of American Outdoor Brands during the second quarter worth approximately $27,000. First Horizon Advisors Inc. lifted its position in American Outdoor Brands by 170.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,547 shares of the company’s stock worth $27,000 after buying an additional 1,606 shares in the last quarter. Comerica Bank boosted its stake in shares of American Outdoor Brands by 203.6% during the 3rd quarter. Comerica Bank now owns 3,504 shares of the company’s stock valued at $30,000 after buying an additional 2,350 shares during the period. Bank of America Corp DE boosted its stake in shares of American Outdoor Brands by 505.6% during the 2nd quarter. Bank of America Corp DE now owns 5,372 shares of the company’s stock valued at $56,000 after buying an additional 4,485 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of American Outdoor Brands by 4,535.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,934 shares of the company’s stock valued at $62,000 after acquiring an additional 5,806 shares in the last quarter. Institutional investors and hedge funds own 49.87% of the company’s stock.

American Outdoor Brands Company Profile

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.