Wedbush Remains sidelined on Smith & Wesson (SWHC) Following Solid 4Q Earnings Report
Wedbush maintained a Neutral rating and $23.00 price target on Smith & Wesson Holding (NASDAQ: SWHC) following the company's 4Q earnings report. SWHC reported non-GAAP EPS of $0.66, compared to the Street’s estimate of $0.54 and $0.51-$0.53 guidance. Revenue came in at $211M, marginally better than the Street’s $214.5M.
Analyst James Hardiman commented, "SWHC shares should benefit from not only a sizeable 4Q beat but also a view among investors that the solid guidance given on Thursday is beatable given what is assumed to be a surge in demand in coming months following the Orlando tragedy. Beyond a short term bump in these shares, however, SWHC faces exceedingly difficult comparisons, and so investors will be watching closely beyond a strong 1Q for signs of sustainable momentum during the remainder of the year."
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Shares of Smith & Wesson Holding closed at $21.75 yesterday.