American Outdoor Brands (NASDAQ:AOUT) Releases Earnings Results, Beats Estimates By $0.27 EPS

American Outdoor Brands (NASDAQ:AOUT) issued its quarterly earnings results on Thursday. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.27, FiscalAI reports. The company had revenue of $37.25 million during the quarter, compared to the consensus estimate of $35.64 million. American Outdoor Brands had a negative net margin of 4.83% and a positive return on equity of 0.67%.

American Outdoor Brands Trading Up 0.6%

American Outdoor Brands stock traded up $0.06 during mid-day trading on Thursday, reaching $10.01. The company had a trading volume of 80,501 shares, compared to its average volume of 67,551. American Outdoor Brands has a fifty-two week low of $6.26 and a fifty-two week high of $14.97. The company has a market cap of $126.33 million, a P/E ratio of -13.71 and a beta of 0.27. The business has a fifty day simple moving average of $12.51 and a 200 day simple moving average of $10.44.

Analysts Set New Price Targets

Several research analysts have commented on AOUT shares. Weiss Ratings restated a “sell (d-)” rating on shares of American Outdoor Brands in a research report on Wednesday, June 24th. Zacks Research lowered American Outdoor Brands from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Wall Street Zen raised American Outdoor Brands from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Roth Capital restated a “buy” rating and set a $13.50 price objective on shares of American Outdoor Brands in a research report on Friday, June 26th. Finally, Lake Street Capital raised their price objective on American Outdoor Brands from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.25.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Comerica Bank lifted its stake in shares of American Outdoor Brands by 203.6% in the 3rd quarter. Comerica Bank now owns 3,504 shares of the company’s stock valued at $30,000 after acquiring an additional 2,350 shares during the last quarter. Bank of America Corp DE grew its position in American Outdoor Brands by 505.6% during the 2nd quarter. Bank of America Corp DE now owns 5,372 shares of the company’s stock worth $56,000 after acquiring an additional 4,485 shares during the last quarter. JPMorgan Chase & Co. grew its position in American Outdoor Brands by 4,535.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,934 shares of the company’s stock worth $62,000 after acquiring an additional 5,806 shares during the last quarter. Raymond James Financial Inc. acquired a new position in American Outdoor Brands in the 2nd quarter worth about $64,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in American Outdoor Brands in the 2nd quarter worth about $70,000. 49.87% of the stock is currently owned by institutional investors and hedge funds.

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.