American Outdoor Brands (NASDAQ:AOUT) Posts Earnings Results, Hits Expectations

American Outdoor Brands (NASDAQ:AOUT) posted its quarterly earnings results on Thursday. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12, FiscalAI reports. The business had revenue of $56.58 million during the quarter, compared to analysts’ expectations of $53.81 million. American Outdoor Brands had a negative net margin of 2.69% and a positive return on equity of 1.25%.

American Outdoor Brands Trading Down 1.0%

NASDAQ AOUT traded down $0.09 during trading on Thursday, hitting $8.56. 88,492 shares of the company traded hands, compared to its average volume of 58,581. American Outdoor Brands has a 12 month low of $6.26 and a 12 month high of $13.74. The business has a fifty day simple moving average of $8.91 and a 200 day simple moving average of $8.29. The company has a market capitalization of $107.74 million, a P/E ratio of -19.02 and a beta of 0.40.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AOUT. Comerica Bank raised its stake in shares of American Outdoor Brands by 203.6% in the 3rd quarter. Comerica Bank now owns 3,504 shares of the company’s stock valued at $30,000 after acquiring an additional 2,350 shares in the last quarter. Bank of America Corp DE boosted its position in American Outdoor Brands by 505.6% during the second quarter. Bank of America Corp DE now owns 5,372 shares of the company’s stock worth $56,000 after purchasing an additional 4,485 shares during the period. JPMorgan Chase & Co. grew its holdings in American Outdoor Brands by 4,535.9% during the second quarter. JPMorgan Chase & Co. now owns 5,934 shares of the company’s stock valued at $62,000 after purchasing an additional 5,806 shares during the last quarter. Raymond James Financial Inc. acquired a new position in American Outdoor Brands during the second quarter valued at approximately $64,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of American Outdoor Brands in the second quarter valued at approximately $70,000. Institutional investors and hedge funds own 49.87% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.