.jpg "Vista Outdoor (NYSE: VSTO)")
In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on Vista Outdoor (VSTO), with a price target of $13. The company’s shares closed yesterday at $9.54, close to its 52-week low of $7.78.
Wold said:
“Vista Outdoor (VSTO) is scheduled to report 4Q19 results before the open on Thursday, 5/9, with a conference call at 9:00am ET. With relatively weak trends for both the outdoor products and shooting sports segments in recent quarters (and the sale of the eyewear business driving an adverse comparison to the year ago period), we believe 4Q19 results will likely take a backseat to (1) management’s updated commentary around the sales process for the firearms business (which was expected to be announced by end of March) and (2) the initial outlook/guidance for FY20 and the potential for a sales/earnings inflection point to be reached with the underlying business. With our initiation of coverage on VSTO only a few months old at this point, we are reiterating our Buy rating and unchanged $13 PT.”
According to TipRanks.com, Wold has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.2% and a 41.9% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
Vista Outdoor has an analyst consensus of Moderate Buy, with a price target consensus of $12.50.
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The company has a one-year high of $19.41 and a one-year low of $7.78. Currently, Vista Outdoor has an average volume of 607.9K.
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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.
