Why Vista Outdoor Is Trading Higher Today

Vista Outdoor Inc VSTO is trading higher Thursday after receiving a pair of price target increases following the company's investor day event.

What Happened: Vista Outdoor unveiled its value creation framework and long-term financial targets at its virtual investor day on Wednesday.

"Fiscal year 2021 was historic on many levels: we welcomed millions of new outdoor enthusiasts, we expanded our family of brands with the additions of Remington and HEVI-Shot and we accelerated our transformation through record earnings, free cash and debt paydown," said Vista Outdoor CEO Chris Metz.

Analyst Assessment: Argus Research analyst Rommel Dionisio maintained Vista Outdoor with a Buy rating and raised the price target from $40 to $46.

Keybanc maintained Vista Outdoor with an Overweight rating and raised the price target from $39 to $45.

Price Action: Vista Outdoor set a new 52-week high on Thursday when it traded as high as $44.92. At last check, the stock was up 8.40% at $43.34

(Photo by Jimmy Conover on Unsplash)

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