Wedbush Remains Sidelined on Smith & Wesson (SWHC) Following 1Q Beat

September 2, 2016 9:14 AM EDT
Get Alerts SWHC Hot Sheet
Price: $25.83 +0.39%

Rating Summary:
    6 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 50 | New: 20
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Wedbush reiterated a Neutral rating on Smith & Wesson Holding (NASDAQ: SWHC), and raised the price target to $32.00 (from $29.00), following the company's 1Q earnings report. SWHC reported non-GAAP EPS for 1Q17 of $0.62 compared to the Street’s estimate of $0.53 and the guided range of $0.49-$0.53.

Analyst James Hardiman commented, "Given continued robust industry growth, sizeable share gains, and channel fill opportunities going forward, SWHC is well positioned to match or even beat the significantly increased earnings outlook laid out on Thursday. As such we are again raising our price target, although we hesitate to support a more sizeable increase in fair value as it remains somewhat unclear how much of the beat and raise is sustainable and how much is a function of a more temporary surge in demand. Nonetheless, we think SWHC’s execution has been flawless in recent quarters, increasing the value of the company under any scenario."

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 $29.58 yesterday.

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