Smith & Wesson Brands (NASDAQ:SWBI) Shares Down 3.5%

Smith & Wesson Brands, Inc. (NASDAQ:SWBI)’s share price traded down 3.5% during trading on Thursday . The stock traded as low as $23.43 and last traded at $23.60. 3,532 shares traded hands during trading, a decline of 100% from the average session volume of 3,513,470 shares. The stock had previously closed at $24.46.

Several equities analysts recently commented on the company. Cowen boosted their price target on Smith & Wesson Brands from $24.00 to $30.50 and gave the stock an “outperform” rating in a research report on Friday, June 18th. Lake Street Capital upped their price target on Smith & Wesson Brands from $34.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, June 21st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $26.50.

The firm has a market capitalization of $1.14 billion, a PE ratio of 5.23 and a beta of 0.90. The business’s fifty day moving average is $24.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.51 and a current ratio of 2.13.

Smith & Wesson Brands (NASDAQ:SWBI) last posted its earnings results on Wednesday, June 16th. The company reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.69. The business had revenue of $322.95 million during the quarter, compared to the consensus estimate of $259.80 million. Smith & Wesson Brands had a return on equity of 88.85% and a net margin of 22.76%. Smith & Wesson Brands’s revenue was up 67.3% on a year-over-year basis. During the same quarter last year, the company earned $0.50 EPS. Sell-side analysts predict that Smith & Wesson Brands, Inc. will post 4.39 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 6th. Investors of record on Thursday, July 1st were paid a dividend of $0.08 per share. The ex-dividend date was Wednesday, June 30th. This is a boost from Smith & Wesson Brands’s previous quarterly dividend of $0.05. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.35%. Smith & Wesson Brands’s payout ratio is 7.06%.

In other Smith & Wesson Brands news, Director John B. Furman sold 1,534 shares of the business’s stock in a transaction that occurred on Friday, June 25th. The stock was sold at an average price of $30.17, for a total transaction of $46,280.78. Following the transaction, the director now owns 37,956 shares of the company’s stock, valued at $1,145,132.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Barry M. Monheit sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 30th. The stock was sold at an average price of $32.24, for a total value of $322,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,636 shares of company stock worth $772,731. Corporate insiders own 2.59% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its stake in Smith & Wesson Brands by 2.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 32,622 shares of the company’s stock worth $579,000 after purchasing an additional 777 shares during the last quarter. ClariVest Asset Management LLC increased its holdings in Smith & Wesson Brands by 5.5% in the first quarter. ClariVest Asset Management LLC now owns 24,962 shares of the company’s stock valued at $435,000 after purchasing an additional 1,300 shares during the period. Gotham Asset Management LLC grew its holdings in Smith & Wesson Brands by 1.5% during the 1st quarter. Gotham Asset Management LLC now owns 94,677 shares of the company’s stock worth $1,652,000 after acquiring an additional 1,357 shares during the period. Voloridge Investment Management LLC grew its holdings in Smith & Wesson Brands by 4.7% during the 4th quarter. Voloridge Investment Management LLC now owns 30,856 shares of the company’s stock worth $548,000 after acquiring an additional 1,393 shares during the period. Finally, Royal Bank of Canada grew its holdings in Smith & Wesson Brands by 29.5% during the 1st quarter. Royal Bank of Canada now owns 8,366 shares of the company’s stock worth $146,000 after acquiring an additional 1,906 shares during the period. Institutional investors and hedge funds own 62.97% of the company’s stock.

About Smith & Wesson Brands (NASDAQ:SWBI)

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, and muzzleloaders; handcuffs; suppressors; and other firearm-related products under the Smith & Wesson, M&P, Performance Center, Thompson/Center Arms, and Gemtech brands.

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