Share prices in the U.S. sporting goods industry’s newest publicly traded company – Vista Outdoor Inc. – closed up nearly 8 percent in their first week of trading on the New York Stock Exchange.
VSTO shares closed just above $41 in their fourth day of regular trading Friday, up from their opening price of $37.02 on Tuesday.
VSTO derives about three quarters of its $2.3 billion in sales from its Shoots Sports segment, which sells ammunition and firearms. The remainder comes from its Outdoor Products segment, which owns the Bushnell, Bollé, Serengeti and Tasco optics, brands, the Bee Stinger and Gold Tip archery brands, as well as Cébé, a maker of ski helmets and goggles as well as sunglasses. The company already sells to bird watchers and campers and has said it is interested in selling to hikers and other segments of the outdoor recreation industry.
The business was operated as the Sporting Group of Alliant Techsystems Inc. until Monday, when it was spun off to ATK shareholders as part of a larger merger of the aerospace and defense businesses of ATK and Orbital Sciences Corp. Regular way trading of VSTO shares began Feb. 9, after ATK distributed to shareholders two shares of Vista Outdoor common stock for every one share of ATK common stock owned as of Feb. 2.
Headquartered in Utah, VSTO owns manufacturing operations and facilities in 10 North America and has sales and sourcing operations in Mexico, Canada, Europe, Australia, New Zealand and Asia.
