In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on Nautilus Group (NYSE: NLS), with a price target of $21. The company’s shares closed yesterday at $13.04.
Wold observed:
“After the close on Monday (10/29), Nautilus (NLS) reported 3Q18 results that came in mixed compared to our net sales and adjusted EBITDA estimates, but below consensus estimates for both metrics—due to a shift in direct channel marketing spend from 3Q to 4Q in order to more closely align with the planned launch of the refreshed Max Trainer product with a digital offering included. With 2018 guidance ranges left unchanged and management experiencing stronger consumer response and product mix for the new LateralX compared to last year’s Bowflex HVT launch, this provides increased confidence into potential sales trends around the key holiday selling season (along with the Max Trainer refresh and strong retail/commercial sell-in visibility).”
According to TipRanks.com, Wold is a 4-star analyst with an average return of 6.9% and a 48.8% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nautilus Group with a $17.67 average price target.
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Based on Nautilus Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $1.01 million. In comparison, last year the company had a net profit of $8.24 million.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NLS in relation to earlier this year. Earlier this month, Marvin Siegert, a Director at NLS bought 10,000 shares for a total of $27,700.
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Nautilus, Inc. engages in the provision of fitness products. It operates through the Direct and Retail segments. The Direct segment offers products directly to consumers through direct advertising, catalogs and the Internet.
