Smith & Wesson Brands (NASDAQ:SWBI) Issues Earnings Results

Smith & Wesson Brands (NASDAQ:SWBI) posted its quarterly earnings data on Wednesday. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.14, FiscalAI reports. Smith & Wesson Brands had a return on equity of 3.07% and a net margin of 2.24%.The company had revenue of $178.39 million during the quarter, compared to analysts’ expectations of $155.27 million.

Smith & Wesson Brands Price Performance

Shares of SWBI traded down $0.15 during mid-day trading on Wednesday, hitting $13.73. The company’s stock had a trading volume of 1,703,925 shares, compared to its average volume of 568,723. The company has a current ratio of 4.50, a quick ratio of 1.48 and a debt-to-equity ratio of 0.29. The firm has a 50-day simple moving average of $14.93 and a 200 day simple moving average of $12.79. The firm has a market capitalization of $610.90 million, a P/E ratio of 59.70 and a beta of 0.90. Smith & Wesson Brands has a 1-year low of $7.73 and a 1-year high of $15.79.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smith & Wesson Brands in a research report on Friday, March 27th. Wall Street Zen raised Smith & Wesson Brands from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 8th. Finally, Lake Street Capital raised their price target on Smith & Wesson Brands from $11.00 to $14.00 and gave the company a “buy” rating in a report on Friday, March 6th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.00.

Hedge Funds Weigh In On Smith & Wesson Brands

Several hedge funds and other institutional investors have recently bought and sold shares of SWBI. Royal Bank of Canada raised its holdings in Smith & Wesson Brands by 25.3% during the first quarter. Royal Bank of Canada now owns 41,063 shares of the company’s stock worth $383,000 after purchasing an additional 8,290 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Smith & Wesson Brands by 41.4% during the first quarter. Goldman Sachs Group Inc. now owns 712,708 shares of the company’s stock worth $6,642,000 after purchasing an additional 208,739 shares during the last quarter. Creative Planning raised its holdings in Smith & Wesson Brands by 136.2% during the second quarter. Creative Planning now owns 29,387 shares of the company’s stock worth $255,000 after purchasing an additional 16,943 shares during the last quarter. Legal & General Group Plc raised its holdings in Smith & Wesson Brands by 10.3% during the second quarter. Legal & General Group Plc now owns 47,630 shares of the company’s stock worth $413,000 after purchasing an additional 4,431 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Smith & Wesson Brands during the second quarter worth $190,000. 59.33% of the stock is owned by institutional investors and hedge funds.

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.