B.Riley FBR Initiates a Buy Rating on Vista Outdoor (VSTO)


Vista Outdoor (VSTO) received a Buy rating and a $13 price target from B.Riley FBR analyst Eric Wold today. The company’s shares closed yesterday at $8.84, close to its 52-week low of $8.55.

Wold observed:

“We are initiating coverage of Vista Outdoor (VSTO), a leader in the outdoor and shooting sports segments, with a Buy rating and a 12-month PT of $13. Recent headwinds that have negatively affected results over the past two years provide an attractive entry point for long-term investors, in our opinion. With a strategic review process under way, we believe the company will focus on core product categories to drive future growth and accelerate balance sheet de-leveraging, while also providing an opportunity to focus future M&A efforts on the core product categories. VSTO seems ignored by investors since its spin from former parent Alliant Techsystems; we would expect signs of stabilization and improvement to drive a meaningful re-rating for the shares and choose to be ahead of that curve rather than behind it.”

According to TipRanks.com, Wold has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.7% and a 37.7% success rate. Wold covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.

Vista Outdoor has an analyst consensus of Moderate Buy, with a price target consensus of $12.50.

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Based on Vista Outdoor’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $515 million. In comparison, last year the company had a net profit of $53.74 million.

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Vista Outdoor, Inc. engages in the design, manufacture, and marketing of consumer products in the outdoor sports and recreation markets. It operates through the Shooting Sports and Outdoor Product segments.

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