The stock of Vista Outdoor Inc. (NYSE:VSTO) is now priced at $20.29 and the shares are 0.88 points up or 4.53% higher compared to its previous closing price of $19.41. The stock had 1.242 million contracts set over the past session. VSTO shares’ daily volume is compared to its average trading volume at 1.448 million shares. However, it has a float of 56.81 million and although its performance was 2.79% over the week, it’s one to watch. Analysts have given the VSTO stock a yearly average price target of $28.5 per share. It means the stock’s upside potential is 40.46% with the VSTO share price recently placing at $19.36 to $20.935. However, some brokerage firms have priced the stock below the average, including one that has called $23.
The shorts are running away from the Vista Outdoor Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the VSTO shares have declined. Short interest in the stock represents just 4.86% of its float, but the volume has dropped by 0.
In the last trading session, Vista Outdoor Inc. (NYSE:VSTO) raised by $0.55 over the week and gained $2.12 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $22.6. The stock recorded its established 52-week high on 08/11/20.
Since 03/12/20, the stock has traded to a low of $4.29 at 372.96%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.44. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Vista Outdoor Inc.’s two-week RSI is 55.15. This suggests that the stock is neutral at the moment and that VSTO shares’ price movement remains stable. The stochastic readings are equally revealing at 23.51% meaning the VSTO share price is currently in overbought territory.
The technical chart shows that the VSTO stock will likely settle at between $21.03 and $21.77 per share. However, if the stock dips below $19.46, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $18.62.
Currently, the stock is trading in the red of MACD, with a reading of -0.37. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Monness Crespi & Hardt though raised target price of VSTO stock from $15 to $28 but maintained Buy recommendation in their August 06 review. B. Riley FBR analysts downgraded their recommendation of the stock from Buy to Neutral while keeping its target price at $16 in a flash note released to investors on July 08. Monness Crespi & Hardt analysts see the stock as Buy. Nonetheless, the analysts revised the share prices up on June 25, placing it at $15 from $12.
The average rating for the VSTO equity is 2.5 and is currently gathering a bullish momentum. Of 6 analysts tracking Vista Outdoor Inc. polled by Reuters, 4 rated VSTO as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the VSTO stock price is 11.64X ahead of its 12-month Consensus earnings per share estimates.