American Outdoor Brands (NASDAQ:AOUT) Cut to “Sell” at Wall Street Zen

American Outdoor Brands (NASDAQ:AOUT) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

Several other research analysts also recently commented on AOUT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Outdoor Brands in a research note on Wednesday, October 8th. Zacks Research downgraded shares of American Outdoor Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $19.00.

American Outdoor Brands Stock Up 1.3%

Shares of NASDAQ:AOUT opened at $6.87 on Friday. The stock has a market cap of $86.97 million, a PE ratio of -18.57 and a beta of 0.30. The company’s fifty day moving average is $8.52 and its 200 day moving average is $9.96. American Outdoor Brands has a 52 week low of $6.55 and a 52 week high of $17.91.

American Outdoor Brands (NASDAQ:AOUT) last issued its earnings results on Tuesday, April 18th. The company reported $0.52 EPS for the quarter. American Outdoor Brands had a negative net margin of 2.16% and a positive return on equity of 2.00%. The company had revenue of $70.11 million for the quarter. Sell-side analysts anticipate that American Outdoor Brands will post 0.36 EPS for the current year.

American Outdoor Brands declared that its Board of Directors has initiated a share buyback plan on Thursday, October 2nd that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 9.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey purchased a new position in American Outdoor Brands during the 2nd quarter valued at $27,000. First Horizon Advisors Inc. grew its position in shares of American Outdoor Brands by 170.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,547 shares of the company’s stock worth $27,000 after buying an additional 1,606 shares during the period. Bank of America Corp DE grew its position in shares of American Outdoor Brands by 505.6% in the 2nd quarter. Bank of America Corp DE now owns 5,372 shares of the company’s stock worth $56,000 after buying an additional 4,485 shares during the period. JPMorgan Chase & Co. grew its position in shares of American Outdoor Brands by 4,535.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,934 shares of the company’s stock worth $62,000 after buying an additional 5,806 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of American Outdoor Brands in the 2nd quarter worth about $64,000. 49.87% of the stock is owned by hedge funds and other institutional investors.

About American Outdoor Brands

American Outdoor Brands, Inc provides outdoor products and accessories for rugged outdoor enthusiasts in the United States and internationally. It offers hunting, fishing, camping, shooting, and personal security and defense products. The company also provides shooting sports accessories products include rests, vaults, and other related accessories; outdoor lifestyle products, such as premium sportsmen knives and tools for fishing and hunting; land management tools for hunting preparedness; harvesting products for post-hunt or post-fishing activities; outdoor cooking products; and camping, survival, and emergency preparedness products.