Shares of gun makers sank in premarket trade Friday, as a disappointing quarterly report from Smith & Wesson parentAmerican Outdoor Brands Corp. cast a pall on the sector. American Outdoor’s stock plummeted 18.2% in premarket trade, putting it on track to open at the lowest level since April 2015, after the company missed fiscal first-quarter profit and sales expectations and cut its second-quarter outlook. The stock was headed for the biggest one-day percentage loss since it plunged 20.5% on Jan. 22, 2008. Wedbush Securities analyst James Hardiman cut his stock price target to $16 from $20. Elsewhere, shares of Sturm Ruger & Co. slid 3.5% ahead of the open and Vista Outdoor Inc.’s stock dropped 1.9%. year to date, shares of American Outdoor had shed 20% , Sturm Ruger had lost 9.5% and Vista Outdoor had tumbled 43% through Thursday, while the S&P 500 had gained 10%.
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