American Outdoor Brands (NASDAQ:AOUT) Trading Up 0.6% – Here’s What Happened

American Outdoor Brands, Inc. (NASDAQ:AOUT) was up 0.6% during mid-day trading on Tuesday . The stock traded as high as $9.07 and last traded at $8.65. Approximately 31,446 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 59,153 shares. The stock had previously closed at $8.60.

Analysts Set New Price Targets

AOUT has been the subject of a number of recent research reports. Roth Mkm lowered their price objective on 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 shares of American Outdoor Brands from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Outdoor Brands in a research report on Monday, December 29th. Finally, Lake Street Capital reduced their target price on shares of American Outdoor Brands from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Two equities research 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.com, American Outdoor Brands presently has a consensus rating of “Hold” and a consensus target price of $12.50.

American Outdoor Brands Stock Up 0.6%

The firm has a market capitalization of $108.88 million, a P/E ratio of -19.22 and a beta of 0.38. The business’s 50 day moving average is $8.02 and its two-hundred day moving average is $8.40.

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

Institutional Investors Weigh In On American Outdoor Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brandes Investment Partners LP boosted its stake in American Outdoor Brands by 6.5% during the second quarter. Brandes Investment Partners LP now owns 1,219,798 shares of the company’s stock valued at $12,747,000 after buying an additional 74,107 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in American Outdoor Brands in the 2nd quarter valued at about $141,000. Los Angeles Capital Management LLC bought a new position in shares of American Outdoor Brands during the 2nd quarter valued at about $121,000. Envestnet Asset Management Inc. boosted its position in shares of American Outdoor Brands by 15.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 25,835 shares of the company’s stock valued at $270,000 after purchasing an additional 3,401 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake 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 purchasing an additional 1,606 shares during the last quarter. Institutional investors own 49.87% of the company’s stock.

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.