Smith & Wesson Brands (NASDAQ:SWBI) Cut to “Hold” at Lake Street Capital

Lake Street Capital cut shares of Smith & Wesson Brands (NASDAQ:SWBI) from a buy rating to a hold rating in a research note issued to investors on Friday, MarketBeat.com reports. They currently have $13.00 price target on the stock, down from their previous price target of $18.00.

Separately, Craig Hallum cut Smith & Wesson Brands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $18.00 to $13.00 in a research note on Friday.

Smith & Wesson Brands Trading Down 20.3 %

NASDAQ SWBI opened at $10.86 on Friday. The firm has a market cap of $487.07 million, a price-to-earnings ratio of 13.92 and a beta of 0.96. Smith & Wesson Brands has a one year low of $10.43 and a one year high of $18.05. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.19 and a current ratio of 3.54. The firm has a 50 day simple moving average of $13.19 and a 200-day simple moving average of $14.29.

Smith & Wesson Brands (NASDAQ:SWBI) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $133.53 million. During the same period in the prior year, the business earned $0.14 EPS. Smith & Wesson Brands’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts anticipate that Smith & Wesson Brands will post 0.73 EPS for the current fiscal year.

Smith & Wesson Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.79%. Smith & Wesson Brands’s dividend payout ratio (DPR) is presently 66.67%.

Institutional Trading of Smith & Wesson Brands

A number of institutional investors have recently bought and sold shares of the company. Quarry LP raised its position in Smith & Wesson Brands by 2,773.0% during the second quarter. Quarry LP now owns 2,126 shares of the company’s stock worth $30,000 after acquiring an additional 2,052 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Smith & Wesson Brands by 311.0% during the 2nd 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 period. International Assets Investment Management LLC lifted its position in 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 worth $38,000 after buying an additional 2,684 shares during the period. NBC Securities Inc. lifted its holdings in shares of Smith & Wesson Brands by 823.8% during the 3rd quarter. NBC Securities Inc. now owns 4,000 shares of the company’s stock worth $51,000 after acquiring an additional 3,567 shares during the period. Finally, Copeland Capital Management LLC acquired a new position in shares of Smith & Wesson Brands in the 3rd quarter valued at $52,000. 59.33% 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 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.