Smith & Wesson Brands (NASDAQ:SWBI) Downgraded by BidaskClub

BidaskClub cut shares of Smith & Wesson Brands (NASDAQ:SWBI) from a hold rating to a sell rating in a research report report published on Thursday, BidAskClub reports.

A number of other equities research analysts have also recently issued reports on SWBI. ValuEngine cut Smith & Wesson Brands from a sell rating to a strong sell rating in a research note on Thursday, September 3rd. Zacks Investment Research cut shares of Smith & Wesson Brands from a strong-buy rating to a sell rating in a research note on Wednesday, August 12th. Cowen initiated coverage on shares of Smith & Wesson Brands in a research note on Tuesday, August 25th. They set an outperform rating and a $24.00 price objective on the stock. Craig Hallum restated a buy rating and set a $22.00 price objective on shares of Smith & Wesson Brands in a research note on Tuesday, August 25th. Finally, Aegis initiated coverage on shares of Smith & Wesson Brands in a research note on Thursday, September 24th. They set a buy rating and a $23.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $22.17.

SWBI stock opened at $16.69 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.23 and a current ratio of 2.26. The stock has a market capitalization of $932.76 million, a price-to-earnings ratio of -75.84 and a beta of 0.88. Smith & Wesson Brands has a 1 year low of $4.25 and a 1 year high of $22.40. The stock’s fifty day moving average is $16.91 and its two-hundred day moving average is $18.74.

Smith & Wesson Brands (NASDAQ:SWBI) last posted its earnings results on Thursday, September 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.41. The company had revenue of $227.97 million for the quarter, compared to analysts’ expectations of $204.85 million. Smith & Wesson Brands had a positive return on equity of 23.00% and a negative net margin of 1.29%. The firm’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same period last year, the business posted $0.03 earnings per share. As a group, analysts predict that Smith & Wesson Brands will post 2.49 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 17th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Wednesday, September 16th. Smith & Wesson Brands’s payout ratio is currently 24.39%.

In related news, Director Robert L. Scott sold 3,000 shares of Smith & Wesson Brands stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $16.15, for a total value of $48,450.00. Following the transaction, the director now owns 104,932 shares of the company’s stock, valued at approximately $1,694,651.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert J. Cicero sold 37,827 shares of Smith & Wesson Brands stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $16.17, for a total value of $611,662.59. Following the completion of the transaction, the insider now directly owns 102,652 shares in the company, valued at approximately $1,659,882.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,827 shares of company stock worth $707,723. 2.59% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. purchased a new position in Smith & Wesson Brands in the 2nd quarter worth about $10,667,000. FMR LLC purchased a new position in Smith & Wesson Brands in the 2nd quarter worth about $46,012,000. Swiss National Bank purchased a new position in Smith & Wesson Brands in the 2nd quarter worth about $2,667,000. Envestnet Asset Management Inc. purchased a new position in Smith & Wesson Brands in the 2nd quarter worth about $232,000. Finally, JPMorgan Chase & Co. increased its stake in Smith & Wesson Brands by 1,158.6% in the 1st quarter. JPMorgan Chase & Co. now owns 223,246 shares of the company’s stock worth $1,853,000 after purchasing an additional 205,509 shares in the last quarter. 63.48% of the stock is currently owned by hedge funds and other institutional investors.

Smith & Wesson Brands Company Profile

Smith & Wesson Brands, Inc designs, manufactures, and sells firearms worldwide. The company offers firearms products, such as revolvers and pistols; modern sporting rifles, bolt action rifles, and muzzleloaders; handcuffs; suppressors; and other firearm-related products under the Smith & Wesson, M&P, Performance Center, Thompson/Center Arms, and Gemtech brands.

Recommended Story: How analysts view the yield curve

Analyst Recommendations for Smith & Wesson Brands (NASDAQ:SWBI)

Receive News & Ratings for Smith & Wesson Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smith & Wesson Brands and related companies with MarketBeat.com's FREE daily email newsletter.