Adirondack Research & Management Inc. cut its holdings in shares of Vista Outdoor Inc (NYSE:VSTO) by 41.4% during the second quarter, HoldingsChannel.com reports. The fund owned 149,276 shares of the company’s stock after selling 105,613 shares during the period. Vista Outdoor accounts for about 2.8% of Adirondack Research & Management Inc.’s holdings, making the stock its 9th largest holding. Adirondack Research & Management Inc.’s holdings in Vista Outdoor were worth $2,157,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC boosted its holdings in Vista Outdoor by 270,750.3% in the 2nd quarter. FMR LLC now owns 3,217,702 shares of the company’s stock valued at $46,495,000 after purchasing an additional 3,216,514 shares during the last quarter. State Street Corp boosted its holdings in Vista Outdoor by 7.1% in the 1st quarter. State Street Corp now owns 1,792,927 shares of the company’s stock valued at $15,778,000 after purchasing an additional 119,443 shares during the last quarter. Greenhouse Funds LLLP acquired a new position in Vista Outdoor in the 2nd quarter valued at about $22,805,000. Laidlaw Wealth Management LLC acquired a new position in Vista Outdoor in the 2nd quarter valued at about $80,000. Finally, Royal Bank of Canada boosted its holdings in Vista Outdoor by 42.4% in the 1st quarter. Royal Bank of Canada now owns 1,091,458 shares of the company’s stock valued at $9,605,000 after purchasing an additional 324,747 shares during the last quarter. Hedge funds and other institutional investors own 89.59% of the company’s stock.
Several research firms have weighed in on VSTO. William Blair began coverage on shares of Vista Outdoor in a report on Friday. They issued an “outperform” rating on the stock. Monness Crespi & Hardt boosted their target price on shares of Vista Outdoor from $15.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, August 6th. B. Riley downgraded shares of Vista Outdoor from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research note on Wednesday, July 8th. Lake Street Capital boosted their price target on shares of Vista Outdoor from $13.00 to $18.00 in a research note on Tuesday, July 7th. Finally, Cowen reissued a “hold” rating and issued a $18.00 price target on shares of Vista Outdoor in a research note on Thursday, July 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Vista Outdoor currently has an average rating of “Buy” and an average target price of $17.42.
VSTO traded up $0.45 during trading hours on Friday, hitting $18.50. 1,181,209 shares of the company’s stock were exchanged, compared to its average volume of 1,130,785. Vista Outdoor Inc has a 12-month low of $4.29 and a 12-month high of $22.60. The firm has a 50 day moving average of $18.34 and a 200 day moving average of $11.78. The firm has a market cap of $1.07 billion, a P/E ratio of -10.82 and a beta of 0.44. The company has a current ratio of 2.68, a quick ratio of 1.45 and a debt-to-equity ratio of 1.05.
Vista Outdoor (NYSE:VSTO) last announced its earnings results on Thursday, August 6th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.54. Vista Outdoor had a negative net margin of 5.52% and a positive return on equity of 9.19%. The firm had revenue of $479.14 million for the quarter, compared to the consensus estimate of $405.82 million. During the same period in the prior year, the firm earned ($0.08) EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, research analysts expect that Vista Outdoor Inc will post 2.04 EPS for the current fiscal year.
About Vista Outdoor
Vista Outdoor Inc designs, manufactures, and markets consumer products for outdoor sports and recreation markets in the United States and internationally. The company operates through Outdoor Products and Shooting Sports segments. The Outdoor Products segment offer sports products for action sports, including helmets, goggles, and accessories for cycling, snow, action, and power sports; archery/hunting accessories, such as hunting arrows, game calls, hunting blinds, game cameras, and waterfowl decoys; outdoor cooking solutions for camping; eyewear and sport protection products, including safety and protective eyewear, and fashion and sports eyewear; golf products, such as laser rangefinders; hydration products comprising hydration packs and water bottles; optical products, such as binoculars, riflescopes, and telescopes; shooting accessories, including reloading equipment, clay targets, and premium gun care products; tactical products, such as holsters, duty gear, bags, and packs; and water sports products, including stand up paddle boards.
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