Vista Outdoor (VSTO) Receives a Buy from B.Riley FBR

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 opened today at $9.89.

Wold noted:

“Before the open on Outdoor (VSTO) reported 4Q19 results that were mixed vs. expectations and management’s guidance—but, in our opinion, the stronger sales far outweighing any one-time margin hits from end-of-year clean-ups. While the expected sale of the Savage firearms brand has slipped into this fiscal year, we are encouraged by signs of stabilization in the ammo that would bode well for the company as it becomes more of an agnostic ammo supplier after the sale. Furthermore, following the recent decision to hold back on selling the Bell/Giro helmet brand on improving underlying trends, management now expects the outdoor products segment to generate organic growth for the first time in history as brand stabilization and market leadership is paying dividends coming out of a difficult retail environment. 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 -3.5% and a 40.1% 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 590.7K.

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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.