Smith & Wesson Brands (NASDAQ:SWBI) PT Raised to $18.00

Smith & Wesson Brands (NASDAQ:SWBI) had its price objective raised by investment analysts at Lake Street Capital from $16.00 to $18.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s price objective would suggest a potential upside of 25.96% from the stock’s previous close.

Separately, Craig Hallum upgraded Smith & Wesson Brands from a “hold” rating to a “buy” rating and raised their target price for the company from $14.00 to $18.00 in a report on Friday, March 8th.

Smith & Wesson Brands Stock Down 12.9 %

Shares of SWBI opened at $14.29 on Friday. Smith & Wesson Brands has a 52-week low of $10.38 and a 52-week high of $18.05. The company has a market capitalization of $658.77 million, a PE ratio of 25.07 and a beta of 1.11. The stock has a fifty day simple moving average of $16.41 and a two-hundred day simple moving average of $15.18. The company has a quick ratio of 1.42, a current ratio of 3.21 and a debt-to-equity ratio of 0.27.

Smith & Wesson Brands (NASDAQ:SWBI) last issued its earnings results on Thursday, June 20th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.10. Smith & Wesson Brands had a return on equity of 11.18% and a net margin of 7.39%. The business had revenue of $159.15 million during the quarter, compared to the consensus estimate of $156.80 million. During the same period last year, the company earned $0.32 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis.

Hedge Funds Weigh In On Smith & Wesson Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its stake in Smith & Wesson Brands by 1,255.8% during the fourth quarter. International Assets Investment Management LLC now owns 3,037 shares of the company’s stock worth $41,000 after purchasing an additional 2,813 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Smith & Wesson Brands by 1,653.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,256 shares of the company’s stock worth $161,000 after purchasing an additional 8,728 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Smith & Wesson Brands during the third quarter worth approximately $130,000. Keynote Financial Services LLC acquired a new position in Smith & Wesson Brands during the first quarter worth approximately $199,000. Finally, Jump Financial LLC acquired a new position in Smith & Wesson Brands during the fourth quarter worth approximately $176,000. 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.