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 $8.07, close to its 52-week low of $7.47.
Wold commented:
“Vista Outdoor (VSTO) is expected to report 1Q20 results before the open on Thursday, 8/8, with a conference call at 9:00am ET. We are not making any changes to our 1Q20 estimates (which are in line with consensus) and remain comfortable with our underlying assumptions that call for mid-single-digit sales declines for both the outdoor products and shooting sports segments ahead of expected business trend inflections in the coming quarters. With the sale of the firearms business expected to create business tailwinds for both segments along with reducing the debt load by 20%+, we remain positive on VSTO shares following our recent initiation of coverage—and are reiterating our Buy rating and $13 PT.”
According to TipRanks.com, Wold is ranked 0 out of 5 stars with an average return of -5.4% and a 35.0% success rate. Wold covers the NA sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Vista Outdoor with a $12.50 average price target.
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Based on Vista Outdoor’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $48.64 million. In comparison, last year the company had a GAAP net loss of $52.35 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 following segments: Shooting Sports, Outdoor Product, and Corporate.
