Zacks Investment Research Lowers Vista Outdoor (VSTO) to Sell

Zacks Investment Research downgraded shares of Vista Outdoor (NYSE:VSTO) from a hold rating to a sell rating in a research note released on Wednesday.

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. “

Several other research analysts have also recently issued reports on VSTO. Forward View reaffirmed a hold rating and issued a $23.00 price target on shares of Vista Outdoor in a report on Sunday, August 20th. Aegis reaffirmed a hold rating and issued a $26.00 price target on shares of Vista Outdoor in a report on Monday, August 21st. KeyCorp initiated coverage on Vista Outdoor in a report on Wednesday, August 30th. They issued an overweight rating on the stock. BidaskClub cut Vista Outdoor from a hold rating to a sell rating in a report on Saturday, September 2nd. Finally, Cowen reaffirmed a hold rating and issued a $26.00 price target on shares of Vista Outdoor in a report on Wednesday, October 4th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $23.40.

Vista Outdoor (NYSE VSTO) opened at $14.77 on Wednesday. The stock has a market capitalization of $845.82, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 2.57 and a beta of -0.36. Vista Outdoor has a twelve month low of $12.35 and a twelve month high of $39.49. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.03 and a quick ratio of 1.63.

Vista Outdoor (NYSE:VSTO) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.07. The company had revenue of $587.00 million for the quarter, compared to analysts’ expectations of $588.85 million. Vista Outdoor had a positive return on equity of 5.76% and a negative net margin of 19.88%. The firm’s revenue was down 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 earnings per share. equities research analysts forecast that Vista Outdoor will post 0.57 EPS for the current fiscal year.

In other news, Director Tig H. Krekel bought 3,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were bought at an average cost of $13.33 per share, with a total value of $39,990.00. Following the purchase, the director now directly owns 7,684 shares in the company, valued at $102,427.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Christopher T. Metz bought 6,500 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were purchased at an average cost of $14.86 per share, for a total transaction of $96,590.00. Following the completion of the purchase, the chief executive officer now owns 87,256 shares in the company, valued at $1,296,624.16. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 16,000 shares of company stock worth $231,165. Company insiders own 1.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of VSTO. FMR LLC increased its stake in shares of Vista Outdoor by 70.0% in the second quarter. FMR LLC now owns 6,894,441 shares of the company’s stock worth $155,194,000 after acquiring an additional 2,838,686 shares during the last quarter. BlackRock Inc. increased its stake in shares of Vista Outdoor by 23.5% in the second quarter. BlackRock Inc. now owns 6,998,726 shares of the company’s stock worth $157,542,000 after acquiring an additional 1,331,085 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Vista Outdoor by 41.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,563,879 shares of the company’s stock worth $80,224,000 after acquiring an additional 1,041,884 shares during the last quarter. Southpoint Capital Advisors LP acquired a new position in shares of Vista Outdoor in the second quarter worth $21,423,000. Finally, First Eagle Investment Management LLC increased its stake in shares of Vista Outdoor by 18.2% in the second quarter. First Eagle Investment Management LLC now owns 5,523,517 shares of the company’s stock worth $124,334,000 after acquiring an additional 852,195 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

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Vista Outdoor Company Profile

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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