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

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

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

Smith & Wesson Brands Stock Down 3.3%

Shares of NASDAQ SWBI opened at $16.12 on Tuesday. 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 has a 12-month low of $7.73 and a 12-month high of $17.56. The firm’s 50-day moving average price is $15.07 and its 200-day moving average price is $13.09. The stock has a market capitalization of $721.05 million, a price-to-earnings ratio of 40.30 and a beta of 0.90.

Smith & Wesson Brands (NASDAQ:SWBI) last released its quarterly earnings results on Wednesday, June 17th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.23 by $0.13. Smith & Wesson Brands had a return on equity of 5.01% and a net margin of 3.53%.The company had revenue of $178.39 million during the quarter, compared to analyst estimates of $155.27 million. During the same quarter last year, the business posted $0.20 earnings per share. The firm’s revenue was up 26.7% on a year-over-year basis. On average, equities research analysts anticipate that Smith & Wesson Brands will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Smith & Wesson Brands

Several institutional investors have recently made changes to their positions in SWBI. Keynote Financial Services LLC bought a new position in Smith & Wesson Brands during the 4th quarter worth about $581,000. Fidelis Capital Partners LLC lifted its position in shares of Smith & Wesson Brands by 257.9% in the 4th quarter. Fidelis Capital Partners LLC now owns 46,390 shares of the company’s stock worth $458,000 after purchasing an additional 33,428 shares during the period. Independent Advisor Alliance boosted its stake in shares of Smith & Wesson Brands by 19.8% during the fourth quarter. Independent Advisor Alliance now owns 35,855 shares of the company’s stock valued at $354,000 after purchasing an additional 5,920 shares in the last quarter. Avantax Planning Partners Inc. purchased a new position in Smith & Wesson Brands during the fourth quarter valued at approximately $164,000. Finally, SG Americas Securities LLC bought a new position in Smith & Wesson Brands in the fourth quarter worth approximately $133,000. Hedge funds and other institutional investors own 59.33% of the company’s stock.

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.