October NICS Background Checks Drop 17% - Cowen (AOBC) (RGR)
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Rating Summary:
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Today's Overall Ratings:
Up: 10 | Down: 8 | New: 5
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Cowen analyst Cai von Rumohr noted contained weakness in NICS checks in October, although comps get easier in December.
Adjusted NICS background checks dropped 17% Y/Y in October, vs. September's -12%, August’s -11%, and July’s -25%.
The 1.1MM checks in October 2017 were the fourth strongest month on record, although sequential comparisons lagged in all categories, von Rumohr commented.
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