American Outdoor Brands (NASDAQ:AOUT) Trading 3.3% Higher – Time to Buy?

American Outdoor Brands, Inc. (NASDAQ:AOUT) shares were up 3.3% on Monday . The stock traded as high as $8.69 and last traded at $8.18. Approximately 98,335 shares were traded during trading, an increase of 7% from the average daily volume of 91,948 shares. The stock had previously closed at $7.92.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AOUT. Zacks Research downgraded shares of American Outdoor Brands from a “hold” rating to a “strong sell” rating in a report on Monday, September 29th. Roth Capital dropped their target price on American Outdoor Brands from $11.50 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of American Outdoor Brands in a research note on Monday, December 29th. Lake Street Capital decreased their price target on American Outdoor Brands from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Finally, Wall Street Zen raised American Outdoor Brands from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, American Outdoor Brands presently has an average rating of “Hold” and a consensus target price of $12.50.

American Outdoor Brands Stock Performance

The stock’s 50-day moving average price is $7.30 and its 200-day moving average price is $8.57. The company has a market capitalization of $102.99 million, a price-to-earnings ratio of -18.18 and a beta of 0.38.

American Outdoor Brands (NASDAQ:AOUT) last released its quarterly earnings data on Tuesday, April 18th. The company reported $0.52 earnings per share for the quarter. The firm had revenue of $70.11 million during the quarter. American Outdoor Brands had a positive return on equity of 1.25% and a negative net margin of 2.69%. Analysts anticipate that American Outdoor Brands, Inc. will post 0.36 earnings per share for the current year.

American Outdoor Brands declared that its board has authorized a stock buyback plan on Thursday, October 2nd that allows the company to buyback $10.00 million in shares. This buyback authorization allows the company to repurchase up to 9.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Comerica Bank lifted its stake in 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 buying an additional 2,350 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of American Outdoor Brands by 2.0% in the third quarter. Gamco Investors INC. ET AL now owns 288,713 shares of the company’s stock worth $2,506,000 after acquiring an additional 5,600 shares during the last quarter. Teton Advisors LLC purchased a new stake in shares of American Outdoor Brands in the third quarter valued at $1,007,000. Royce & Associates LP boosted its stake in shares of American Outdoor Brands by 16.0% during the third quarter. Royce & Associates LP now owns 859,233 shares of the company’s stock valued at $7,458,000 after acquiring an additional 118,604 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of American Outdoor Brands by 20.4% during the third quarter. Envestnet Asset Management Inc. now owns 31,093 shares of the company’s stock valued at $270,000 after acquiring an additional 5,258 shares during the last quarter. 49.87% of the stock is owned by hedge funds and other institutional investors.

About American Outdoor Brands

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.