Smith & Wesson Brands (NASDAQ:SWBI) Upgraded to Hold at Zacks Research

Smith & Wesson Brands (NASDAQ:SWBI) was upgraded by analysts at Zacks Research to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other analysts also recently issued reports on SWBI. Lake Street Capital increased their price target on shares of Smith & Wesson Brands from $14.00 to $16.50 and gave the stock a “buy” rating in a report on Thursday, June 18th. Wall Street Zen raised shares of Smith & Wesson Brands from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 8th. Finally, Weiss Ratings upgraded shares of Smith & Wesson Brands from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.50.

Smith & Wesson Brands Trading Down 3.3%

Shares of NASDAQ:SWBI opened at $16.12 on Tuesday. Smith & Wesson Brands has a 12-month low of $7.73 and a 12-month high of $17.56. The company has a market capitalization of $721.05 million, a PE ratio of 40.30 and a beta of 0.90. The business has a 50 day moving average of $15.07 and a two-hundred day moving average of $13.09. The company has a current ratio of 3.20, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14.

Smith & Wesson Brands (NASDAQ:SWBI) last issued its quarterly earnings data on Wednesday, June 17th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.13. The business had revenue of $178.39 million for the quarter, compared to analysts’ expectations of $155.27 million. Smith & Wesson Brands had a net margin of 3.53% and a return on equity of 5.01%. The business’s revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. As a group, analysts forecast that Smith & Wesson Brands will post 0.55 EPS for the current year.

Institutional Trading of Smith & Wesson Brands

Several large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new position in Smith & Wesson Brands in the 4th quarter valued at $30,000. Western Wealth Management LLC purchased a new stake in shares of Smith & Wesson Brands during the first quarter worth $34,000. Tower Research Capital LLC TRC raised its position in shares of Smith & Wesson Brands by 205.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,240 shares of the company’s stock valued at $54,000 after buying an additional 4,200 shares during the last quarter. Rafferty Asset Management LLC raised its position in shares of Smith & Wesson Brands by 12.2% in the second quarter. Rafferty Asset Management LLC now owns 11,403 shares of the company’s stock valued at $99,000 after buying an additional 1,237 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in shares of Smith & Wesson Brands in the second quarter worth about $101,000. 59.33% of the stock is currently owned by hedge funds and other institutional investors.

About Smith & Wesson Brands

Smith & Wesson Brands, Inc is a leading American manufacturer of firearms and related products, designing, producing and marketing a broad array of handguns, long guns and shooting accessories. The company’s portfolio includes revolvers, semi-automatic pistols and rifles under well-known brands such as M&P® (Military & Police) and Performance Center®, which are used by military, law enforcement, commercial and private customers. In addition to complete firearms, Smith & Wesson offers suppressors, optics mounts, holsters and other shooting accessories to support a full spectrum of professional and recreational shooting activities.

Founded in 1852 by Horace Smith and Daniel B.