Smith & Wesson (SWHC): Beat May Be In The Price, Next Catalyst May Be Negative - Wedbush

August 25, 2016 8:09 AM EDT
Get Alerts SWHC Hot Sheet
Price: $26.59 -0.19%

Rating Summary:
    6 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Wedbush analyst, James Hardiman, reiterated his Neutral rating on shares of Smith & Wesson Holding (NASDAQ: SWHC) but raised his price target to $29 from $23 after checks indicate the company will beat and raise its outlook when earnings is reported next week.

Given strong industry trends and continued share gains over the past few months, the analyst believes that SWHC is well positioned to beat and raise when the company reports next week. However, considering the current valuation, upside is limited in the near-term and late this year there should be a marked decline in background checks as we lap last year’s surge. Therefore, while we are raising our price target to reflect an elevated level of both fear and gun control rhetoric, the easy money has been made, and that investors should be cautious of a retrenchment in back-half fundamentals.

For an analyst ratings summary and ratings history on Smith & Wesson Holding click here. For more ratings news on Smith & Wesson Holding click here.

Shares of Smith & Wesson Holding closed at $29.25 yesterday.

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