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

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

Analyst Ratings Changes

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

Outdoor Stock Performance

Shares of POWW stock opened at $1.80 on Thursday. The company has a market cap of $210.80 million, a P/E ratio of -9.00 and a beta of 1.14. The business has a 50 day moving average of $1.80 and a two-hundred day moving average of $1.53. Outdoor has a 52 week low of $1.08 and a 52 week high of $2.14. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.04.

Outdoor (NASDAQ:POWW) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.06. The company had revenue of $11.98 million for the quarter, compared to analyst estimates of $11.63 million. As a group, analysts anticipate 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.