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VSTO

Vista Outdoor

$37.79

0.02 (0.05%)

05:18
01/12/17
01/12
05:18
01/12/17
05:18

Vista Outdoor announces expected non-cash intangible asset impairment charge

Vista Outdoor announced that it expects to record a material, non-cash intangible asset impairment charge in its Hunting and Shooting Accessories reporting unit in Q3 of FY17. The company does not expect the impairment charge to have any impact on future operations, affect its liquidity, affect cash flows from operating activities, or affect compliance with the financial covenants set forth in its debt instruments. In accordance with Accounting Standards Codification, or ASC, 350 "Intangibles Goodwill and Other," the company is required to test its goodwill and other indefinite-lived intangible assets for impairment annually or when a triggering event has occurred that would indicate that it is more likely than not that the fair value of the reporting unit is less than the book value, including goodwill and intangibles. In Vista Outdoor's assessment, a triggering event for the company's Outdoor Products segment occurred during Q3 of FY17 due to an acceleration of the trends seen during the first and second quarters, which included a softening retail environment and increased promotional activity. These factors required the company to begin the impairment assessment for that segment's reporting units at that time, rather than waiting for the normal process that would ordinarily be completed in conjunction with the preparation of the company's FY17 annual financial statements. Vista Outdoor's Shooting Sports segment will be tested during the normal process, and management is confident there will not be an impairment in the segment's Ammunition and Firearms reporting units.

VSTO Vista Outdoor
$37.79

0.02 (0.05%)

08/12/16
ROTH
08/12/16
NO CHANGE
Target $51
ROTH
Buy
Vista Outdoor price target lowered to $51 from $57 at Roth Capital
Roth Capital analyst Dave King lowered his price target for Vista Outdoor to $51 from $57 after the company's quarterly results "surprisingly" fell short of estimates amid a shift in consumer spending, capacity constraints for certain centerfire ammunition, the timing of international orders, and the challenging retail environment. Nonetheless, the analyst reiterates a Buy rating on the shares to reflect Vista Outdoor's leading market share and "strong" management team.
08/30/16
KEYB
08/30/16
UPGRADE
Target $48
KEYB
Overweight
Vista Outdoor upgraded to Overweight from Sector Weight at KeyBanc
KeyBanc analyst Scott Hamann upgraded Vista Outdoor to Overweight saying the recent pullback in the shares has brought an attractive entry point. The current valuation largely prices in a potential guidance cut while the ammo channel is seeing continued momentum, Hamann tells investors in a research note. He has a $48 price target for the shares.
09/19/16
KING
09/19/16
INITIATION
Target $45
KING
Buy
Vista Outdoor initiated with a Buy at CL King
CL King analyst Scott Stember initiated Vista Outdoor with a Buy and a $45 price target.
10/17/16
JEFF
10/17/16
NO CHANGE
Target $54
JEFF
Buy
Vista Outdoor shares oversold after pullback, says Jefferies
Jefferies analyst Greg Konrad views Vista Outdoor as oversold with the stock down 26% since the company reported Q1 results. The share price is now "disconnected from the financial prospects of the business," Konrad tells investors in a research note. He expects the Q2 results to show a "modest" improvement with a more "pronounced recovery" in the second half of FY17. Konrad keeps a Buy rating on Vista with a $54 price target.

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