Benzinga | Sep 24, 2020 03:04PM EDT

Why Smith & Wesson Brands Stock Is Trading Higher Today

Smith & Wesson Brands (NASDAQ:SWBI) shares are trading higher on Thursday after Aegis Capital initiated coverage on the stock with a Buy rating and a price target of $23 per share.

Smith & Wesson Brands Inc is a U.S.-based leader in firearm manufacturing. It also provides products for shooting, hunting, and rugged outdoor enthusiasts in the global consumer and professional markets. The company manufactures handgun, long gun, and suppressor products. The firm's brand portfolio consists of Smith and Wesson, M&P, Thompson/Center Arms, and Gemtech. It also provides forging, machining, and precision plastic injection molding services.

Smith & Wesson Brands shares were trading up 4.78% at $16.25 at the time of publication. The stock has a 52-week high of $27.79 and a 52-week low of $5.41.