Today’s Bull of the Day may spark a little controversy. They are a company that makes hand guns. Now I’m really not concerned with which side of the aisle anybody lands on. What I am concerned with is what side of the breakeven line my stock picks are. With this stock, I’m confident you’ll be seeing some green in the next twelve months.
Smith & Wesson (SWHC) manufactures and sells firearm products in the United States and internationally. The company operates in two segments, firearms and accessories. It offers handguns, including revolvers and pistols; long guns, such as sporting, bolt action, and single shot rifles; hunting rifles; black powder firearms; handcuffs and restraints; and firearm-related products and accessories.
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Analysts have been bullish on the stock over the last sixty days. Two analysts raised their earnings estimates for the current quarter, current year and next year. The bullish attitude has pushed up our Zacks Consensus Estimate across the board. The most dramatic increase has been the current year and next year’s numbers. Current year consensus has jumped from $1.02 to $1.16 while next year’s numbers have gone up from $1.03 all the way to $1.28.
The recent bullish sentiment is following yet another quarterly earnings beat for Smith & Wesson. The streak the company has been on is impressive. SWHC has beat a whopping 17 quarters in a row. The last earnings beat saw earnings come in at 32 cents versus our Zacks Consensus Estimate of 22 cents. That’s coming on the heels of another 10 cent beat the previous quarter.
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Shares of Smith & Wesson have been locked and loaded all year. After the August dip took shares down to $16.50 we’ve seen a strong rebound to within a buck of the previous 52-week high. With a CCI that’s above the zero line but barely overbought at 91, the next push higher could be right around the corner. The 20-day sits below the current price action down at $17.68 right now. Any positive news could be enough to get this one over the hump.
David Bartosiak is the Momentum Stock Strategist with Zacks, editor of the Momentum Trader and Home Run Investor, and host of “Trending Stocks”
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