B.Riley FBR analyst Eric Wold maintained a Buy rating on Vista Outdoor (VSTO) today and set a price target of $11. The company’s shares closed yesterday at $5.80, close to its 52-week low of $5.40.
Wold commented:
“Before the open on Outdoor (VSTO) reported 1Q20 results that came in below expectations—due mostly to final headwinds in the Savage Arms business that was subsequently sold, but also from some new ammo and tariff headwinds that recently developed. After initiating coverage on VSTO in late February on a belief that the multi-year headwinds facing the shooting sports and outdoor products segments were coming to an end, we were clearly wrong and too early on our call—which has been exacerbated by a number of unforeseen events in recent months (poor weather in key parts of the buying season, a major industry bankruptcy, and continued U.S./China trade disputes).”
According to TipRanks.com, Wold ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -8.1% and a 31.2% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
Currently, the analyst consensus on Vista Outdoor is a Moderate Buy with an average price target of $11.50.
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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.
