The one I had, IIRC, was a 1:12; it shot consistent 3/10" groups at 50yd. (my home range limit for paper) with 40gr. bulk (Remmy?) JHP handloads and hit were it was looking in the 'field test' next door (you know, pick a spot and blow it, if you do your part as a shooter).
I did nothing to the rifle, not even an o-ring, just cleaned the barrel, made a book load about 10% under top for whatever powder I had and went shooting. After about 50rds plinking and getting acquainted I shot paper.
Then it was boringly accurate so I sold it..........(well, I had two other Hornets; a 223 would have been a better option for me for various load level experiments).
As to 'out of the box'? Mine was good, yours could be bad, or somewhere in between. Its all speculatin' until you try whatever comes home.