JPMorgan Chase – Wedbush Brokers Raise Earnings Estimates for Vista Outdoor Inc. (NYSE:VSTO)
Vista Outdoor Inc. (NYSE:VSTO) – Investment analysts at Wedbush raised their FY2022 earnings per share (EPS) estimates for shares of Vista Outdoor in a research report issued on Thursday, February 4th. Wedbush analyst J. Hardiman now anticipates that the company will earn $2.89 per share for the year, up from their previous forecast of $2.75. Wedbush has a “Outperform” rating and a $36.00 price target on the stock. Wedbush also issued estimates for Vista Outdoor’s FY2023 earnings at $2.10 EPS. Vista Outdoor (NYSE:VSTO) last issued its earnings results on Thursday, February 4th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.66 by $0.37. The company had revenue of $574.70 million for the quarter, compared to the consensus estimate of $525.94 million. Vista Outdoor had a negative net margin of 5.52% and a positive return on equity of 9.19%. The firm’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 earnings per share.
VSTO has been the subject of a number of other research reports. Cowen upgraded Vista Outdoor from a “market perform” rating to an “outperform” rating and raised their target price for the company from $29.00 to $33.00 in a research note on Tuesday, December 22nd. They noted that the move was a valuation call. Roth Capital assumed coverage on Vista Outdoor in a research report on Wednesday, January 6th. They set a “buy” rating for the company. KeyCorp upped their target price on shares of Vista Outdoor from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday. Monness Crespi & Hardt lifted their price target on shares of Vista Outdoor from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Friday. Finally, B. Riley upped their price objective on shares of Vista Outdoor from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Friday. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $35.56.
VSTO stock opened at $30.39 on Monday. Vista Outdoor has a 12-month low of $4.29 and a 12-month high of $33.47. The firm’s 50-day moving average price is $27.00 and its two-hundred day moving average price is $21.71. The company has a current ratio of 2.68, a quick ratio of 1.45 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -17.77 and a beta of 0.40.
In other Vista Outdoor news, CEO Christopher T. Metz sold 15,000 shares of the business’s stock in a transaction dated Friday, November 27th. The stock was sold at an average price of $21.00, for a total value of $315,000.00. Following the completion of the transaction, the chief executive officer now owns 564,336 shares of the company’s stock, valued at approximately $11,851,056. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aperio Group LLC grew its stake in shares of Vista Outdoor by 2.3% during the 3rd quarter. Aperio Group LLC now owns 30,343 shares of the company’s stock valued at $612,000 after acquiring an additional 681 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Vista Outdoor by 3.0% during the third quarter. Oregon Public Employees Retirement Fund now owns 23,800 shares of the company’s stock valued at $480,000 after purchasing an additional 700 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Vista Outdoor by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 44,440 shares of the company’s stock worth $849,000 after purchasing an additional 985 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Vista Outdoor by 14.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,250 shares of the company’s stock valued at $220,000 after purchasing an additional 1,150 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Vista Outdoor by 1.8% during the 3rd quarter. Swiss National Bank now owns 131,500 shares of the company’s stock valued at $2,654,000 after buying an additional 2,300 shares in the last quarter. 89.59% of the stock is currently owned by hedge funds and other institutional investors.
About Vista Outdoor
Vista Outdoor Inc designs, manufactures, and markets various consumer products in the outdoor sports and recreation markets in the United States and internationally. It has a portfolio of brands that provides consumers with a range of products for individual outdoor recreational pursuits. The company operates through two segments, Shooting Sports and Outdoor Products.
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