Dhirendra Tripathi
Investing.com – American Outdoor Brands (NASDAQ:SWBI) (NASDAQ:AOUT) shares jumped 15% in Thursday’s trade after a blowout quarter had the company giving a rosy outlook for 2021.
Following the January quarter results, B. Riley financial analyst Eric Wold raised his price target to $34 and reiterated a buy. The price target is a 25% hike from the current levels.
In the quarter ended January, AOB’s revenues rose 90.7% year-over-year, to $82.6 million, and exceeded the consensus estimates of $59.02 million, as per TipRanks. The superlative display came on the back of increases in both ecommerce and traditional sales channels.
Adjusted earnings more than tripled to 82 cents per share and beat the Street estimate of 36 cents by a wide margin. Gross margins in the quarter came at 45.2%, up from 44.1%.
For the fiscal year ending April 30, 2021, the company said its revenue would be between $268 million and $272 million. This is higher than the consensus estimate of $244.93 million, as per TipRanks.