- Analysts reduced their price target on American Outdoor Brands Inc (NASDAQ:AOUT) post Q3 FY22 results.
- CL King analyst Scott Stember lowered the price target to $23 from $32 and kept a Buy rating on the shares.
- Lake Street analyst Mark Smith reduced the firm's price target to $26 from $32 and maintained a Buy rating on the shares, implying 81.3% upside.
- The analyst reduced his outlook for FY22, noting weakness in the shooting sports segment persisted in the quarter.
- B.Riley Financial maintained a Buy rating on American Outdoor Brands, with a reduced price target of $25.
- American Outdoor reported Q3 FY22 sales of $70.1 million, missing the consensus of $72.57 million. Non-GAAP EPS of $0.52 topped the Street view of $0.46.
- The company also reduced its FY22 outlook citing declining POS trends for products in its Shooting Sports and Personal Protection category that attach to firearms.
- American Outdoor Brands agreed to acquire privately owned Grilla Grills, a provider of barbecue grills, Wi-Fi-enabled wood pellet grills, smokers, accessories, and modular outdoor kitchens, for $27 million in cash.
- Price Action: AOUT shares are trading lower by 6.76% at $14.34 on the last check Friday.
