Sturm Ruger & Co (RGR) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of Sturm Ruger & Co (NYSE:RGR) from a sell rating to a hold rating in a report published on Wednesday.
According to Zacks, “Sturm, Ruger & Co., Inc. is one of the nation’s leading manufacturers of rugged, reliable firearms for the commercial sporting market. As a full-line manufacturer of American-made firearms, Ruger offers consumers of variations of the product lines, from the ubiquitous 10/22® and Mini-14®, to the new and exciting LCP® II, Mark IV, Ruger American Pistol®, Ruger Precision Rifle®, SR-556 Takedown®, AR-556® and Ruger American Rifle®. Their awarding-winning products (the Gunsite Scout Rifle, SR9c®, LCR® and LCP®) all prove that Ruger has a rugged, reliable firearm to meet every shooter’s needs. Ruger has been a model of corporate and community responsibility. Their motto, Arms Makers for Responsible Citizens®, echoes their commitment to these principles as they work hard to deliver quality and innovative firearms. “
Separately, TheStreet upgraded shares of Sturm Ruger & Co from a c+ rating to a b- rating in a research report on Friday, April 6th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $64.50.
Sturm Ruger & Co (NYSE:RGR) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.21). Sturm Ruger & Co had a net margin of 9.98% and a return on equity of 22.81%. The company had revenue of $118.20 million during the quarter, compared to analyst estimates of $134.50 million. During the same period last year, the company earned $1.10 EPS. The business’s revenue for the quarter was down 26.9% compared to the same quarter last year. sell-side analysts forecast that Sturm Ruger & Co will post 3.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Thursday, March 15th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.63%. This is a boost from Sturm Ruger & Co’s previous quarterly dividend of $0.21. Sturm Ruger & Co’s dividend payout ratio is currently 31.94%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in RGR. Nationwide Fund Advisors increased its position in shares of Sturm Ruger & Co by 113.2% in the 3rd quarter. Nationwide Fund Advisors now owns 20,977 shares of the company’s stock valued at $1,085,000 after buying an additional 11,139 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Sturm Ruger & Co by 5.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 111,045 shares of the company’s stock worth $5,742,000 after purchasing an additional 5,921 shares in the last quarter. Legal & General Group Plc increased its holdings in Sturm Ruger & Co by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 35,290 shares of the company’s stock worth $1,825,000 after purchasing an additional 1,111 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Sturm Ruger & Co by 19.1% during the 3rd quarter. Wells Fargo & Company MN now owns 126,191 shares of the company’s stock worth $6,524,000 after purchasing an additional 20,218 shares in the last quarter. Finally, Atria Investments LLC increased its holdings in Sturm Ruger & Co by 23.6% during the 4th quarter. Atria Investments LLC now owns 5,862 shares of the company’s stock worth $327,000 after purchasing an additional 1,119 shares in the last quarter. Institutional investors and hedge funds own 88.14% of the company’s stock.
About Sturm Ruger & Co
Sturm, Ruger & Company, Inc designs, manufactures, and sells firearms under the Ruger name and trademark in the United States. It operates in two segments, Firearms and Castings. The company offers single-shot, autoloading, bolt-action, and sporting rifles; rimfire and centerfire autoloading pistols; single-action and double-action revolvers; and firearms accessories and replacement parts.
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