Smith & Wesson Brands (NASDAQ:SWBI) Given New $43.00 Price Target at Lake Street Capital

Smith & Wesson Brands (NASDAQ:SWBI) had its price objective hoisted by Lake Street Capital from $34.00 to $43.00 in a research report sent to investors on Monday, The Fly reports. The firm currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Wedbush restated a neutral rating on shares of Smith & Wesson Brands in a research note on Friday, March 5th. Cowen upped their price objective on Smith & Wesson Brands from $24.00 to $30.50 and gave the company an outperform rating in a research note on Friday, June 18th. Zacks Investment Research upgraded Smith & Wesson Brands from a hold rating to a buy rating and set a $19.00 price objective on the stock in a research note on Wednesday, March 10th. Finally, Craig Hallum restated a hold rating and issued a $17.00 price objective on shares of Smith & Wesson Brands in a research note on Thursday, March 11th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Smith & Wesson Brands currently has an average rating of Buy and an average price target of $26.50.

SWBI opened at $28.76 on Monday. Smith & Wesson Brands has a 52-week low of $13.68 and a 52-week high of $29.42. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 16.92 and a beta of 0.84. The company has a quick ratio of 1.20, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average is $20.33.

Smith & Wesson Brands (NASDAQ:SWBI) last released its earnings results on Wednesday, June 16th. The company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.69. Smith & Wesson Brands had a return on equity of 62.71% and a net margin of 9.52%. The business had revenue of $322.95 million for the quarter, compared to analyst estimates of $259.80 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. Smith & Wesson Brands’s revenue was up 67.3% on a year-over-year basis. On average, equities research analysts anticipate that Smith & Wesson Brands will post 4.15 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 6th. Stockholders of record on Thursday, July 1st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.11%. This is a positive change from Smith & Wesson Brands’s previous quarterly dividend of $0.05. Smith & Wesson Brands’s dividend payout ratio (DPR) is 24.39%.

In other news, Director Barry M. Monheit sold 10,000 shares of the stock in a transaction that occurred on Monday, June 21st. The stock was sold at an average price of $27.65, for a total transaction of $276,500.00. Following the transaction, the director now owns 44,002 shares in the company, valued at $1,216,655.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Deana L. Mcpherson sold 5,102 shares of the stock in a transaction that occurred on Monday, June 21st. The stock was sold at an average price of $25.00, for a total value of $127,550.00. Following the transaction, the insider now owns 64,360 shares in the company, valued at approximately $1,609,000. The disclosure for this sale can be found here. 2.59% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its position 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 buying an additional 777 shares in the last quarter. Advisory Services Network LLC grew its position in Smith & Wesson Brands by 108.2% during the fourth quarter. Advisory Services Network LLC now owns 1,928 shares of the company’s stock worth $34,000 after buying an additional 1,002 shares in the last quarter. ClariVest Asset Management LLC grew its position in Smith & Wesson Brands by 5.5% during the first quarter. ClariVest Asset Management LLC now owns 24,962 shares of the company’s stock worth $435,000 after buying an additional 1,300 shares in the last quarter. Gotham Asset Management LLC grew its position in Smith & Wesson Brands by 1.5% during the first quarter. Gotham Asset Management LLC now owns 94,677 shares of the company’s stock worth $1,652,000 after buying an additional 1,357 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its position in Smith & Wesson Brands by 4.7% during the fourth quarter. Voloridge Investment Management LLC now owns 30,856 shares of the company’s stock worth $548,000 after buying an additional 1,393 shares in the last quarter. 56.92% of the stock is currently owned by institutional investors and hedge funds.

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, 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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