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

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

SWBI has been the topic of several other research reports. Lake Street Capital upped their price target on Smith & Wesson Brands from $25.00 to $27.00 and gave the company a buy rating in a research note on Tuesday, September 8th. Cowen initiated coverage on Smith & Wesson Brands in a research note on Tuesday, August 25th. They set an outperform rating and a $24.00 price target on the stock. Aegis initiated coverage on Smith & Wesson Brands in a research note on Thursday, September 24th. They set a buy rating and a $23.00 price target on the stock. Craig Hallum reaffirmed a buy rating and set a $22.00 price target on shares of Smith & Wesson Brands in a research note on Tuesday, August 25th. Finally, ValuEngine lowered Smith & Wesson Brands from a sell rating to a strong sell rating in a research note on Thursday, September 3rd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Smith & Wesson Brands currently has an average rating of Hold and an average target price of $22.17.

Smith & Wesson Brands 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 firm has a market cap of $932.76 million, a P/E ratio of -75.84 and a beta of 0.88. The business’s fifty day moving average is $16.91 and its two-hundred day moving average is $18.74. Smith & Wesson Brands has a 52 week low of $4.25 and a 52 week high of $22.40.

Smith & Wesson Brands (NASDAQ:SWBI) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.41. The company had revenue of $227.97 million for the quarter, compared to analyst estimates 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 business’s revenue was up 84.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 earnings per share. On average, equities research analysts predict that Smith & Wesson Brands will post 2.49 earnings per share for the current year.

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

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

Institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. bought a new stake in shares of Smith & Wesson Brands in the second quarter worth about $10,667,000. FMR LLC bought a new stake in shares of Smith & Wesson Brands in the second quarter worth about $46,012,000. Swiss National Bank bought a new stake in shares of Smith & Wesson Brands in the second quarter worth about $2,667,000. Envestnet Asset Management Inc. bought a new stake in shares of Smith & Wesson Brands in the second quarter worth about $232,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Smith & Wesson Brands by 1,158.6% in the first quarter. JPMorgan Chase & Co. now owns 223,246 shares of the company’s stock worth $1,853,000 after acquiring an additional 205,509 shares in the last quarter. Institutional investors own 63.48% of the company’s stock.

About Smith & Wesson Brands

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.

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

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