Smith & Wesson Shares Crash After Earnings Miss Shows Panic-Hoarding Guns Is Over

[Reptile]

Smith & Wesson Brands, Inc. shares crashed on Friday after the company's Q2 earnings report missed analysts' estimates as panic hoarding guns by Americans eased.

Sales fell 7.3% in the quarter as gun demand subsided, prompting Cowen to downgrade the stock from "outperform" to "market perform". Cowen analyst Cai Von Rumohr slashed the price target to $22 from $38. The average price target is approximately $30.50.

Shares of Smith & Wesson are down more than 17% in premarket to about the $19 handle.

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[VetteGirlMA]

Sounds like a good time to buy.

 

[greencobra]

boycott smith and wesson! wait, wrong thread.

 

[Waher]

Kind of hard to buy when not so much is on the shelves and ammo is still in short supply. Stores have so many backorders, they can't place more.

 

[OnTheRoad]

Hellcat and 365 have left the Shield in the dust. Their KelTec shotgun knockoff fell on its face. Can't find 15-22 mags anyplace. Does S&W even make a 1911 anymore?

 

[Miguelito]

Kind of hard to buy when not so much is on the shelves and ammo is still in short supply. Stores have so many backorders, they can't place more.

The only ammo I've noticed in short supply lately is deer hunting calibers/ammo. Also, while I can't speak to every firearm, the LGS's I have been to lately have about five times the selection they had eight or ten months ago so...