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

Smith & Wesson Brands (NASDAQ:SWBI) was downgraded by stock analysts at Lake Street Capital from a “buy” rating to a “hold” rating in a report issued on Friday,Briefing.com Automated Import reports. They presently have a $13.00 price objective on the stock, down from their previous price objective of $18.00. Lake Street Capital’s price target indicates a potential downside of 4.62% from the company’s previous close.

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

Smith & Wesson Brands Stock Performance

Shares of SWBI opened at $13.63 on Friday. The stock has a 50 day moving average of $13.24 and a 200 day moving average of $14.35. The company has a market capitalization of $611.31 million, a price-to-earnings ratio of 18.42 and a beta of 0.96. Smith & Wesson Brands has a 12 month low of $11.96 and a 12 month high of $18.05. The company has a current ratio of 3.54, a quick ratio of 1.19 and a debt-to-equity ratio of 0.28.

Smith & Wesson Brands (NASDAQ:SWBI) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.06). Smith & Wesson Brands had a return on equity of 9.20% and a net margin of 6.74%. The company had revenue of $129.70 million for the quarter, compared to analysts’ expectations of $133.53 million. During the same quarter in the previous year, the business earned $0.14 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis.

Hedge Funds Weigh In On Smith & Wesson Brands

Several hedge funds have recently bought and sold shares of SWBI. Quarry LP raised its holdings in shares of 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 in the last quarter. Blue Trust Inc. lifted its position in Smith & Wesson Brands by 311.0% during the second quarter. Blue Trust Inc. now owns 2,133 shares of the company’s stock valued at $31,000 after purchasing an additional 1,614 shares during the last quarter. International Assets Investment Management LLC grew its stake in Smith & Wesson Brands by 1,198.2% in the 3rd 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 in the last quarter. NBC Securities Inc. increased its holdings in shares of Smith & Wesson Brands by 823.8% in the 3rd quarter. NBC Securities Inc. now owns 4,000 shares of the company’s stock worth $51,000 after buying an additional 3,567 shares during the last quarter. Finally, Copeland Capital Management LLC purchased a new stake in shares of Smith & Wesson Brands during the 3rd quarter valued at $52,000. Hedge funds and other institutional investors own 59.33% of the company’s stock.

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.