EconomyMarkets

Remington Gun Maker Vista Outdoor Rises as Cowen Calls it ‘Top Pick’ By Investing.com

© Reuters.

By Christiana Sciaudone

Investing.com — Vista Outdoor (NYSE:) rose more than 3% after Cowen called it a top pick. 

The firm sees “greater” earnings per share “resiliency,” CNBC reported. 

“The ammo surge has legs, Remington’s ramp offers upside to F22 Street ests, & VSTO’s improved credit profile & new operating philosophy allows product introductions & channel enhancements that should allow for greater EPS resiliency vs. prior cycles,” the firm said.

Vista Outdoor makes guns, among other outdoor sporting goods. According to the Federal Bureau of Investigation, statistics representing the number of firearms background checks initiated through the National Instant Criminal Background Check System have hit all time monthly highs this year. The number of checks hit an all time high of almost 4.7 million in March.

Shares have rallied more than 200% over the past 12 months alongside that demand for firearms. Profit at Vista Outdoor has jumped throughout the pandemic.

 

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button