Lake Street Capital Downgrades Smith & Wesson Brands (NASDAQ:SWBI) to Hold

Smith & Wesson Brands (NASDAQ:SWBI) was downgraded by equities researchers at Lake Street Capital from a “buy” rating to a “hold” rating in a research note issued on Friday, MarketBeat Ratings reports. They presently have a $13.00 price objective on the stock, down from their prior price objective of $18.00. Lake Street Capital’s price target would suggest a potential upside of 19.71% from the company’s previous close.

Separately, Craig Hallum downgraded shares of Smith & Wesson Brands from a “buy” rating to a “hold” rating and reduced their target price for the company from $18.00 to $13.00 in a research note on Friday.

Smith & Wesson Brands Trading Down 20.3 %

Shares of NASDAQ SWBI opened at $10.86 on Friday. Smith & Wesson Brands has a 1-year low of $10.43 and a 1-year high of $18.05. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.54 and a quick ratio of 1.19. The business’s 50 day moving average is $13.19 and its two-hundred day moving average is $14.31. The stock has a market capitalization of $487.07 million, a P/E ratio of 13.92 and a beta of 0.96.

Smith & Wesson Brands (NASDAQ:SWBI) last released its earnings results on Thursday, December 5th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.06). Smith & Wesson Brands had a net margin of 6.74% and a return on equity of 9.20%. The company had revenue of $129.70 million for the quarter, compared to the consensus estimate of $133.53 million. During the same period in the prior year, the firm posted $0.14 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts expect that Smith & Wesson Brands will post 0.73 EPS for the current year.

Institutional Investors Weigh In On Smith & Wesson Brands

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP grew its position in Smith & Wesson Brands by 2,773.0% in the 2nd quarter. Quarry LP now owns 2,126 shares of the company’s stock valued at $30,000 after acquiring an additional 2,052 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Smith & Wesson Brands by 311.0% during the second quarter. Blue Trust Inc. now owns 2,133 shares of the company’s stock worth $31,000 after purchasing an additional 1,614 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Smith & Wesson Brands by 1,198.2% during the third quarter. International Assets Investment Management LLC now owns 2,908 shares of the company’s stock valued at $38,000 after purchasing an additional 2,684 shares during the period. NBC Securities Inc. grew its holdings in shares of Smith & Wesson Brands by 823.8% in the third quarter. NBC Securities Inc. now owns 4,000 shares of the company’s stock worth $51,000 after purchasing an additional 3,567 shares during the last quarter. Finally, Copeland Capital Management LLC purchased a new position in Smith & Wesson Brands in the 3rd quarter worth about $52,000. 59.33% of the stock is owned by institutional investors.

About Smith & Wesson Brands

Smith & Wesson Brands, Inc designs, manufactures, and sells firearms worldwide. The company offers handguns, including revolvers and pistols; long guns, such as modern sporting rifles, bolt action rifles; handcuffs; suppressors; and other firearm-related products under the Smith & Wesson, M&P, and Gemtech brands.