On June 9, 2023, it was reported that American Century Companies Inc. had increased its stake in Vista Outdoor Inc. by 28.9% during the fourth quarter. According to the company’s most recent Form 13F filing with the Securities and Exchange Commission, American Century Companies Inc. now owns 571,228 shares of Vista Outdoor’s stock, representing a value of $13,921,000 at the end of the quarter.
Vista Outdoor (NYSE: VSTO) is a company that designs, manufactures and markets consumer products in outdoor sports and recreation markets through its Shooting Sports and Outdoor Products segments. The company was in the news recently after it reported its quarterly earnings on May 3rd.
The results showed a positive trend for Vista Outdoor as they announced earnings per share of $1.08 for the quarter which beat analysts’ consensus estimates by $0.18. This impressive performance came despite revenue being down by 8.4% on a year-over-year basis to $740.74 million compared to analyst estimates of $731.36 million.
Furthermore, Vista Outdoor had a positive return on equity of 28.86% and although the net margin had decreased slightly (-0.32%), it remained an enviable figure nonetheless.
What is most noteworthy about these results is that they were achieved during challenging times when consumer activity has been impacted due to ongoing global issues and supply chain interruptions which have affected many businesses across all sectors.
Despite this situation, Vista Outdoor demonstrated their resilience by continuing to attract investors such as American Century Companies Inc., who are known for investing wisely in companies with potential returns.
As sell-side analysts predict that Vista Outdoor will post earnings per share of 4.61 for the current year, it seems likely that this trend is only set to continue – reaffirming their position as one of the leading companies within their industry while making them an even more attractive option for investors looking to secure excellent returns.
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Vista Outdoor’s Stock Performance: Insights from Analysts and Investors
Vista Outdoor, Inc. is a leading player in the outdoor sports and recreation markets, manufacturing, designing and marketing of consumer products like ammunition, hunting & shooting accessories. The company’s 50-day moving average price stands at $26.87 while the current quick ratio is reported to be 1.07 with a debt-to-equity ratio of 0.87. Given Vista Outdoor’s diverse product catalog and robust financials, several equities research analysts have weighed in on the company’s stock performance over the past few months.
In particular, TheStreet downgraded its initial “b-” rating to “c” in a research note on May 4th while Lake Street Capital increased its target price from $35 to $38 on May 5th. According to Bloomberg.com, Vista Outdoor currently has an average rating of “Moderate Buy” with a price target of $37.60.
Despite analyst opinions varying, various hedge funds and institutional investors have been bullish on Vista Outdoor’s prospects for a number of months now – changing their positions frequently.
Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares by 17.6% by buying additional shares worth approximately $1.4 million in Q1 of this year while Financial Partners Capital Management LLC bought a new stake worth approximately $351,000 and Sei Investments Co upped its stake by purchasing additional shares worth $1,670,000 after gaining an incremental increase during last quarter.
It’s interesting to note that insider sales were also made recently: CEO Jason R Vanderbrink sold over 9 thousand shares worth nearly $362k around mid-May while insider Bradford E Crandell sold roughly four thousand shares around June 1st for just over $104k through SEC filings.
What does the future hold for Vista Outdoor’s stock? There are many factors at play such as market trends, innovations in their products, and the price of raw materials. But the company seems well-positioned to continue their steady growth based on the bullish views from stakeholders and analysts alike.