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Aug. 9, 2019, 12:28 p.m. EDT

Ammunition maker Vista Outdoor's stock tumbles again toward another record low

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By Tomi Kilgore

Shares of Vista Outdoor Inc. /zigman2/quotes/205852373/composite VSTO +1.42% tumbled 11% in midday trading Friday, putting them on track to close at a second-straight record low. The ammunition and outdoor sports equipment company's stock had plunged 21.5% on Thursday, the biggest one-day selloff since November 2017, on the back of disappointing fiscal first-quarter results and lowered full-year outlook. Analyst Eric Wold at B. Riley kept his rating at buy but cut his price target to $11 from $13 on Friday. "After initiating coverage on [Vista] in late February on a belief that the multi-year headwinds facing the shooting sports and outdoor products segments were coming to an end, we were clearly wrong and too early on our call--which has been exacerbated by a number of unforeseen events in recent months (poor weather in key parts of the buying season, a major industry bankruptcy and continued U.S.-China trade disputes). The stock has now plunged 44.4% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.77% has edged up 1.1%. Shares of gun makers were also declining Friday, with Sturm Ruger & Co. /zigman2/quotes/200036418/composite RGR -0.63% losing 4.6% and Smith & Wesson parent American Outdoor Brands Corp. falling 2.4%.

/zigman2/quotes/205852373/composite
US : U.S.: NYSE
$ 17.15
+0.24 +1.42%
Volume: 835,431
July 31, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$995.80 million
Rev. per Employee
$370,951
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/zigman2/quotes/210599714/realtime
US : S&P US
3,271.12
+24.90 +0.77%
Volume: 3.07B
July 31, 2020 5:07p
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/zigman2/quotes/200036418/composite
US : U.S.: NYSE
$ 81.37
-0.52 -0.63%
Volume: 305,223
July 31, 2020 4:00p
P/E Ratio
30.64
Dividend Yield
1.30%
Market Cap
$1.42 billion
Rev. per Employee
$270,839
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