MCFT - American Outdoor Brands Six Flags downgraded as B. Riley reassesses outdoor leisure stocks

A review of the outdoor leisure space is motivating a slate of downgrades and price target cuts at B. Riley Securities. In a note to clients on Tuesday, the firm downgraded three names in its sector coverage alongside price target trimming for an additional 7 names. In all, outlooks were augmented for 90% of the stocks covered in the space. Headlining these changes, American Outdoor Brands (NASDAQ:AOUT) was cut from “Buy” to “Neutral” as risks of a recession build, the potential for guidance cuts come to bear, and a concentration of sales in firearm-related products impacts forecasts. “We continue to believe the increased level of outdoor activity participants in recent years are likely to continue those activities— especially if they can be done at a relatively low incremental cost,” the opinion update authored by equity analyst Eric Wold acknowledged. “Unfortunately, with [American Outdoor Brands’] (AOUT) product mix not benefiting from

For further details see:

American Outdoor Brands, Six Flags downgraded as B. Riley reassesses outdoor leisure stocks