Fox News reports …
A report from KeyBanc Capital Markets cautioned that the firearms industry may be running out of steam, sending shares of Sturm, Ruger & Co. (RGR) and Smith & Wesson (SWHC) tumbling.
Smith & Wesson, which was downgraded to underweight from hold, traded 8% lower to $11.22 Thursday. Ruger was down 3.4% at $53.15.
KeyBanc also lowered its price target for Springfield, Mass.-based Smith & Wesson to $10 as a result of recent outperformance. The stock was up 45.4% so far this year, easily outpacing the broader market.
What is the general feeling among those of you who work in gun stores?