Vista Outdoor management to meet with B. Riley » 11:0509/1509/15/21
Luncheon Meeting with…
Luncheon Meeting with Management at Company Headquarters in Anoka, MN on September 21 hosted by B. Riley.
Roth positive on Vista Outdoor acquisition, boosts target to $57 » 10:0609/1309/13/21
Roth Capital analyst Matt…
Roth Capital analyst Matt Koranda raised the firm's price target on Vista Outdoor to $57 from $56 and keeps a Buy rating on the shares after the company announced an agreement to acquire Foresight Sports for $474M. The analyst has a positive view on the acquisition, saying it seems to "tick a number of boxes all at once." The deal diversifies revenue away from shooting sports, is accretive to margins, and adds a product category with "potential secular tailwinds," Koranda tells investors in a research note.
|Over a week ago|
Vista Outdoor to acquire Foresight Sports for $474M » 07:0209/1009/10/21
Vista Outdoor announced…
Vista Outdoor announced that it has entered into a definitive agreement to acquire Foresight Sports, a designer and manufacturer of golf performance analysis, entertainment, and game enhancement technologies, for $474M. "The addition of Foresight Sports immediately positions Vista Outdoor as one of the top technology players in the golf industry. Foresight Sports is the industry leader in golf technology and launch monitor adoption, and I am pleased to welcome their team of over 150 dedicated employees to Vista Outdoor," said Vista Outdoor Chief Executive Officer Chris Metz. "Together under the same roof, Bushnell Golf and Foresight Sports will elevate their brands' strengths, engage and expand into new segments of the industry and drive growth and brand awareness at unprecedented scale. With more than 36 million golf participants in the U.S. alone, combined with growth in international, digital, and off-course settings, Vista Outdoor is well positioned as a leader in golf data collection, hardware development, game improvement and accuracy." Vista Outdoor has agreed to pay a gross purchase price of $474M, subject to certain customary closing adjustments and not including contingent incentives of up to $25M, upon the achievement of certain net sales targets. The gross purchase price includes a net present value of roughly $60M in future tax benefits. Vista Outdoor expects to use cash on hand and available liquidity under its asset-based revolving credit facility, which is currently undrawn, to complete this transaction. Assuming satisfaction of customary closing conditions, Vista Outdoor expects to close the transaction in the third fiscal quarter of FY 2022.
FBI reports 2.72M NICS firearm background checks in August » 14:0009/0109/01/21
SWBI, RGR, VSTO
The FBI reported that…
The FBI reported that there were 2,715,223 firearm background checks initiated through the NICS system in August 2021. This compares to 3,115,063 checks in August 2020, and 2,882,676 checks in June 2021. Publicly traded companies in the space include Smith & Wesson Brands (SWBI), Sturm Ruger (RGR) and Vista Outdoor (VSTO). Reference Link
|Over a month ago|
Mexico brings U.S. gun makers to court in $10B U.S. suit, Reuters reports » 15:1408/0408/04/21
SWBI, RGR, VSTO, AOUT, POWW
Mexico has brought suits…
Mexico has brought suits against U.S gun makers, including Smith & Wesson(SWB), Barrett Firearms; Colt's Manufacturing and others in U.S. federal court on Wednesday, "accusing them of negligent business practices that generated illegal arms trafficking which led to deaths in Mexico." reported Dave Graham and Laura Gottesdiener of Reuters. Other companies in the firearm space include Sturm Ruger (RGR), Vista Outdoor (VSTO) American Outdoor Brands (AOUT) and AMMO (POWW). Reference Link
FBI reports 2.88M NICS firearm background checks in July » 15:0208/0208/02/21
RGR, VSTO, SWBI
The FBI reported that…
The FBI reported that there were 2,882,676 firearm background checks initiated through the NICS system in July 2021. This compares to 3,639,224 checks in July 2020, and 3,054,726 checks in June 2021. Publicly traded companies in the space include Smith & Wesson Brands (SWBI), Sturm Ruger (RGR) and Vista Outdoor (VSTO). Reference Link
Vista Outdoor price target raised to $56 from $47 at Roth Capital » 10:5907/3007/30/21
Roth Capital analyst Matt…
Roth Capital analyst Matt Koranda raised the firm's price target on Vista Outdoor to $56 from $47 and keeps a Buy rating on the shares. Vista reported "another stand-out quarter, with balanced growth" across its shooting sports and outdoor products units along with "exceptional" segment margins, Koranda tells investors in a research note. Investors are likely going to further compress Vista's valuation multiple on the assumption that we are reaching peak ammunition cycle, but channel checks suggest an industry "firmly at mid-cycle" with potential upside to earnings ahead, says the analyst.
Vista Outdoor price target raised to $57 from $53 at Lake Street » 07:2307/3007/30/21
Lake Street analyst Mark…
Lake Street analyst Mark Smith raised the firm's price target on Vista Outdoor to $57 from $53 and keeps a Buy rating on the shares after the company reported "strong" Q1 results that beat his estimates and consensus. He still thinks the stock's valuation is attractive, even with shares up over 100% in the last 12 months, as Smith sees the ammunition industry remaining well positioned to continue to grow given that roughly 10M new firearm owners were added in 2020.
Vista Outdoor management to meet virtually with Oppenheimer » 04:5507/3007/30/21
Virtual Meeting to be…
Virtual Meeting to be held on July 30 hosted by Oppenheimer.
Vista Outdoor sees FY22 capital expenditures up 30% » 05:0607/2907/29/21
Sees FY22 tax rate mid…
Sees FY22 tax rate mid 20% range. Sees FY22 interest expense in line with prior year.