SMITH & WESSON BRANDS (SWBI)
EARNINGS RELEASE - JUNE 18 (AMC)
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American Outdoor Brands is now Smith & Wesson Brands (NASDAQ:SWBI) after the company officially changed its name and ticker symbol on June 1. The gunmaker is preparing the spin off of its outdoor gear and accessories business later this year.
NO HISTORY TO SHOW FOR THIS NEW COMPANY
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BEAT/MISS RECORD: XX% OF THE TIME THEY BEAT ESTIMATES
PRIOR ‘JUMP ZONE’ MOVES (LAST 3 QTRS %)
EXPECTED JUMP MOVE: 12-15%
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As of late, it has definitely been a great time to be an investor of Smith & Wesson Brands
Smith & Wesson (SWBI) closed at $21.88 in the latest trading session, marking a -1.66% move from the prior day.
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Shares of Vista Outdoor Inc. edged up 0.3% in morning trading Wednesday, erasing an earlier loss of was much as 6.1%, after B. Riley FBR analyst Eric Wold backed away from his bullish view on the ammunition and outdoor sports products maker, citing concerns over a potential downbeat outlook from management and likely volatility as the presidential election nears. Wold dropped his rating to neutral, after being at buy since February 2019, but kept his price target at $16. The stock had closed a near three-year high of $15.33 on Monday, which was more than double the closing price of $7.09 hit on May 7, when the company reported fiscal fourth-quarter results and provided a downbeat fiscal first-quarter outlook. The stock soared along with the shares of gun maker's Smith & Wesson Brands Inc. and Sturm Ruger & Co. , amid increasing firearm background checks as the rise in polls of presidential hopeful Joe Biden over President Donald Trump sparked concerns over tighter gun regulations. “Although [Vista] is not expected to report 1Q21 results until before the open on Thursday, 8/6, we would not be surprised if the conservative guidance stance that management took heading into 1Q21 remains the norm given the continued uncertain retail environment along with the upcoming presidential election drivers,” Wold wrote in a note to clients. The stock has about doubled (up 104%) year to date, after falling 80% over the past three years, while the S&P 500 has eased 2.1% this year.
The same factors that mired Sturm, Ruger (NYSE: RGR) in a three-year slump between 2017 and 2019 are now behind what may turn out to be a tectonic shift that could last for several years. Ruger stock is up 61.6% over the first six months of 2020, according to data provided by S&P Global Market Intelligence, and we’re seeing pressure from tidal forces mount higher in 2020. The gun industry’s so-called “Trump slump” that followed the election of President Trump to office is in the midst of a reversal, and the results are dramatic.
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