UPDATE: Benchmark Reiterates Buy rating on Sturm, Ruger & Company

Benchmark reiterated a Buy rating on Sturm, Ruger & Company RGR and a price target of $60. Benchmark wrote, “Sturm, Ruger & Company is scheduled to report its Q2FY12 results on Wednesday, August 1, after the close; the call is scheduled for the following morning. We believe Ruger will report strong Q2 results, specifically on the top line. Our $111 million revenue estimate represents 40% y/y growth, supported by a 1.1 million unit backlog, which is greater than the total number of units shipped throughout the entire FY11.” Sturm, Ruger & Company closed at $42.58 on Friday.