Vista Outdoor (NYSE:VSTO) Sets New 52-Week High on Earnings Beat

Vista Outdoor Inc. (NYSE:VSTO) hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $44.40 and last traded at $44.20, with a volume of 29120 shares traded. The stock had previously closed at $44.14.

The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.11. The business had revenue of $665.92 million for the quarter, compared to the consensus estimate of $666.72 million. Vista Outdoor had a positive return on equity of 19.96% and a negative net margin of 0.34%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share.

Wall Street Analysts Forecast Growth

VSTO has been the subject of several recent research reports. Roth Mkm cut Vista Outdoor from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a report on Thursday, September 19th. Monness Crespi & Hardt cut Vista Outdoor from a “buy” rating to a “neutral” rating in a report on Monday, October 7th. B. Riley cut Vista Outdoor from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a report on Wednesday, August 7th. Lake Street Capital increased their price target on Vista Outdoor from $37.00 to $40.00 and gave the company a “hold” rating in a report on Monday, July 15th. Finally, Roth Capital cut Vista Outdoor from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Vista Outdoor presently has a consensus rating of “Hold” and a consensus price target of $41.20.

Institutional Investors Weigh In On Vista Outdoor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Natixis Advisors LLC increased its stake in Vista Outdoor by 3.6% during the third quarter. Natixis Advisors LLC now owns 11,369 shares of the company’s stock worth $445,000 after acquiring an additional 394 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Vista Outdoor by 5.4% in the third quarter. Empowered Funds LLC now owns 266,421 shares of the company’s stock valued at $10,438,000 after buying an additional 13,534 shares in the last quarter. Towerview LLC acquired a new stake in shares of Vista Outdoor in the third quarter valued at $294,000. Victory Capital Management Inc. grew its stake in shares of Vista Outdoor by 67.5% in the third quarter. Victory Capital Management Inc. now owns 81,884 shares of the company’s stock valued at $3,208,000 after buying an additional 32,991 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Vista Outdoor by 2.8% in the third quarter. Principal Financial Group Inc. now owns 295,083 shares of the company’s stock valued at $11,561,000 after buying an additional 7,975 shares in the last quarter. Institutional investors and hedge funds own 90.51% of the company’s stock.

Vista Outdoor Price Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 2.80 and a quick ratio of 1.19. The stock has a 50 day moving average price of $41.61 and a two-hundred day moving average price of $38.37. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of -245.00 and a beta of 0.79.

About Vista Outdoor

Vista Outdoor Inc designs, manufactures, and markets outdoor recreation and shooting sports products. in the United States and internationally. The Kinetic Group segment designs, develops, distributes, and manufactures ammunition, primers, and components for hunters, recreational shooters, federal and local law enforcement agencies, and the military.