Smith & Wesson Brands (NASDAQ:SWBI) Price Target Lowered to $12.50 at Lake Street Capital

Smith & Wesson Brands (NASDAQ:SWBI) had its target price lowered by Lake Street Capital from $13.00 to $12.50 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Craig Hallum downgraded shares of Smith & Wesson Brands from a “buy” rating to a “hold” rating and cut their price target for the stock from $18.00 to $13.00 in a report on Friday, December 6th.

Smith & Wesson Brands Stock Performance

Shares of Smith & Wesson Brands stock opened at $9.81 on Friday. The company has a 50 day moving average of $10.50 and a 200-day moving average of $12.10. Smith & Wesson Brands has a 1-year low of $9.17 and a 1-year high of $18.05. The company has a current ratio of 3.97, a quick ratio of 1.43 and a debt-to-equity ratio of 0.36. The company has a market cap of $431.67 million, a PE ratio of 12.58 and a beta of 1.09.

Smith & Wesson Brands (NASDAQ:SWBI) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. Smith & Wesson Brands had a net margin of 7.00% and a return on equity of 8.78%. The company had revenue of $115.89 million during the quarter, compared to the consensus estimate of $119.46 million. As a group, equities research analysts forecast that Smith & Wesson Brands will post 0.47 earnings per share for the current fiscal year.

Smith & Wesson Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 5.30%. The ex-dividend date of this dividend is Thursday, March 20th. Smith & Wesson Brands’s payout ratio is 66.67%.

Hedge Funds Weigh In On Smith & Wesson Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in SWBI. Lazard Asset Management LLC bought a new position in Smith & Wesson Brands in the 4th quarter valued at approximately $2,049,000. Dimensional Fund Advisors LP lifted its stake in Smith & Wesson Brands by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,063,973 shares of the company’s stock valued at $30,960,000 after purchasing an additional 104,128 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Smith & Wesson Brands by 18.0% in the 4th quarter. Bank of New York Mellon Corp now owns 525,374 shares of the company’s stock valued at $5,309,000 after purchasing an additional 80,235 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Smith & Wesson Brands during the fourth quarter valued at $686,000. Finally, Barclays PLC lifted its holdings in shares of Smith & Wesson Brands by 240.2% during the third quarter. Barclays PLC now owns 80,449 shares of the company’s stock worth $1,046,000 after purchasing an additional 56,800 shares during the period. Institutional investors own 59.33% of the company’s stock.

About Smith & Wesson Brands

Smith & Wesson Brands, Inc is a holding company, which engages in the manufacture, design, and provision of firearms. Its portfolio includes handguns, long guns, handcuffs, suppressor, and other firearm-related products. The firm’s brands are Smith & Wesson, M&P, Thompson/Center Arms, and Gemtech.