American Outdoor Brands (NASDAQ:AOUT) Posts Earnings Results, Meets Expectations

American Outdoor Brands (NASDAQ:AOUT) released its earnings results on Thursday. The company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12, FiscalAI reports. The firm had revenue of $56.58 million for the quarter, compared to analysts’ expectations of $53.81 million. American Outdoor Brands had a positive return on equity of 1.25% and a negative net margin of 2.69%.

American Outdoor Brands Stock Down 1.0%

AOUT traded down $0.09 during midday trading on Thursday, hitting $8.56. 88,321 shares of the company were exchanged, compared to its average volume of 58,331. The firm’s 50 day moving average price is $8.91 and its 200-day moving average price is $8.29. The firm has a market capitalization of $107.74 million, a P/E ratio of -19.02 and a beta of 0.40. American Outdoor Brands has a 1-year low of $6.26 and a 1-year high of $13.74.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AOUT. Corient Private Wealth LLC raised its stake in American Outdoor Brands by 422.9% during the fourth quarter. Corient Private Wealth LLC now owns 169,000 shares of the company’s stock worth $1,306,000 after buying an additional 136,680 shares during the last quarter. Empowered Funds LLC boosted its position in shares of American Outdoor Brands by 9.2% during the 4th quarter. Empowered Funds LLC now owns 34,400 shares of the company’s stock valued at $266,000 after purchasing an additional 2,889 shares in the last quarter. Russell Investments Group Ltd. grew its stake in American Outdoor Brands by 558.0% during the fourth quarter. Russell Investments Group Ltd. now owns 20,550 shares of the company’s stock worth $159,000 after purchasing an additional 17,427 shares during the period. Royal Bank of Canada increased its holdings in American Outdoor Brands by 158.0% in the fourth quarter. Royal Bank of Canada now owns 26,408 shares of the company’s stock worth $204,000 after purchasing an additional 16,171 shares in the last quarter. Finally, Mariner LLC acquired a new position in American Outdoor Brands in the fourth quarter valued at approximately $139,000. Institutional investors and hedge funds own 49.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of American Outdoor Brands from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Lake Street Capital lowered their price target on American Outdoor Brands from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Outdoor Brands in a research note on Monday, December 29th. Finally, Roth Mkm lowered their target price 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. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.50.

American Outdoor Brands Company Profile

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.