Vista Outdoor (NYSE:VSTO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Saturday.
According to Zacks, “Vista Outdoor Inc. develops, manufacture and distribute optics, accessories and eyewear. The Company operates in two segments: Shooting Sports and Outdoor Products. Its product consist of binoculars, laser rangefinders, riflescopes, trail cameras, archery accessories, blinds, decoys, game calls, gun care products, mounts, powder, reloading equipment, targets, target systems, safety and protective eyewear, fashion and sports eyewear. The company’s product portfolio include Bushnell(R), Primos(R), Bollè(R), Serengeti(R), Cèbè, RCBS(R), Hoppe’s(R), Uncle Mike’s(R), Gold Tip(R), Weaver(R) and Tasco(R). Vista Outdoor Inc. is headquartered in Utah. “
A number of other brokerages have also recently weighed in on VSTO. BidaskClub upgraded Vista Outdoor from a “sell” rating to a “hold” rating in a research note on Friday, October 20th. Roth Capital set a $21.00 price objective on Vista Outdoor and gave the company a “hold” rating in a research note on Friday, October 6th. Cowen reiterated a “hold” rating and issued a $14.50 price objective on shares of Vista Outdoor in a research note on Monday, November 13th. KeyCorp reiterated a “hold” rating on shares of Vista Outdoor in a research note on Friday, November 10th. Finally, Jefferies Group reiterated a “buy” rating on shares of Vista Outdoor in a research note on Wednesday, October 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $23.40.
Vista Outdoor (NYSE:VSTO) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.07. Vista Outdoor had a positive return on equity of 5.76% and a negative net margin of 19.88%. The company had revenue of $587.00 million during the quarter, compared to analysts’ expectations of $588.85 million. During the same quarter in the previous year, the business earned $0.74 earnings per share. The firm’s revenue for the quarter was down 14.2% on a year-over-year basis. equities analysts predict that Vista Outdoor will post 0.57 EPS for the current year.
In other Vista Outdoor news, Director Tig H. Krekel acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were purchased at an average price of $13.33 per share, with a total value of $39,990.00. Following the completion of the acquisition, the director now directly owns 7,684 shares of the company’s stock, valued at approximately $102,427.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Gottfredson acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were acquired at an average cost of $14.60 per share, for a total transaction of $73,000.00. Following the acquisition, the director now directly owns 21,716 shares of the company’s stock, valued at $317,053.60. The disclosure for this purchase can be found here. Insiders have bought 16,000 shares of company stock valued at $231,165 in the last 90 days. Company insiders own 1.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in VSTO. Ameritas Investment Partners Inc. acquired a new position in Vista Outdoor during the second quarter worth $113,000. Profund Advisors LLC grew its holdings in Vista Outdoor by 7.0% in the second quarter. Profund Advisors LLC now owns 10,656 shares of the company’s stock valued at $240,000 after purchasing an additional 698 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Vista Outdoor in the second quarter valued at $278,000. Suntrust Banks Inc. grew its holdings in Vista Outdoor by 1.9% in the second quarter. Suntrust Banks Inc. now owns 13,200 shares of the company’s stock valued at $296,000 after purchasing an additional 243 shares during the last quarter. Finally, Malaga Cove Capital LLC acquired a new stake in Vista Outdoor in the third quarter valued at $343,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.
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About Vista Outdoor
Vista Outdoor Inc is a designer, manufacturer and marketer of consumer products in the outdoor sports and recreation markets. The Company operates through two segments: Shooting Sports and Outdoor Products. Its Shooting Sports segment designs, develops, produces and sources ammunition and firearms for the hunting and sport shooting enthusiast markets, as well as ammunition for local law enforcement, the United States Government and international markets.
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