Smith & Wesson (SWHC) Momentum Looks to Continue as Background Checks Data Comes in Strong
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Price: $21.08 --0%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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It appears the "buy a gun, save your buns" trend is showing no signs of slowing.
According to data cited by analysts at Northland, NICS firearms background checks rose 24.5 percent in June. This was up from the 20.6 percent growth in May and the highest number in four months.
This bodes well for Outperform-rated Smith & Wesson Holding (Nasdaq: SWHC), the firm notes.
Investors should be thrilled as the June data was not even included in the latest strong fourth quarter results, which covered the fourth quarter and fiscal year ended April 30, 2012.
Not surprisingly, shares of Smith & Wesson are trading at a 52-week high of $9.07. Rival Sturm, Ruger & Co. Inc. (NYSE: RGR) is also higher on the day.
According to data cited by analysts at Northland, NICS firearms background checks rose 24.5 percent in June. This was up from the 20.6 percent growth in May and the highest number in four months.
This bodes well for Outperform-rated Smith & Wesson Holding (Nasdaq: SWHC), the firm notes.
Investors should be thrilled as the June data was not even included in the latest strong fourth quarter results, which covered the fourth quarter and fiscal year ended April 30, 2012.
Not surprisingly, shares of Smith & Wesson are trading at a 52-week high of $9.07. Rival Sturm, Ruger & Co. Inc. (NYSE: RGR) is also higher on the day.
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