5 Best Gun Stocks to Buy Now

3. Vista Outdoor Inc. (NYSE: VSTO)

Number of Hedge Fund Holders: 24

Vista Outdoor Inc. (NYSE: VSTO) is an outdoor sports products manufacturer based in Minnesota ranks 3rd on the list of 10 best gun stocks to buy now. The company sells outdoor and shooting products in the US and internationally.

On July 30, Roth Capital analyst Matt Koranda kept a Buy rating on Vista Outdoor Inc. (NYSE: VSTO) and raised its price target to $56 per share from $47, highlighting the company’s solid revenues driven by shooting sports and outdoor division. The stock has gained 69.4% year to date.

The company has a market cap of $2.31 billion. In the first quarter of fiscal 2022, Vista Outdoor Inc. (NYSE: VSTO) reported an EPS of $1.74, beating estimates by $0.84. The company’s first-quarter revenue grew 38% year over year to $663 million and beat revenue estimates by $49.13 million. Gun sales increased 39% year over year to $463 million, owing to increased hunting and shooting gear demand.

At the end of the second quarter of 2021, 24 hedge funds in the database of Insider Monkey held stakes worth $408 million in Vista Outdoor Inc. (NYSE: VSTO), up from 22 in the previous quarter worth $344 million.