Escalade (NASDAQ:ESCA) Downgraded to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Escalade (NASDAQ:ESCA) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

Several other equities analysts also recently issued reports on ESCA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Escalade in a research note on Thursday, January 22nd. Wall Street Zen raised Escalade from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 18th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Escalade currently has an average rating of “Hold”.

Escalade Trading Down 1.1%

Escalade stock traded down $0.16 during trading hours on Tuesday, hitting $14.08. The stock had a trading volume of 16,546 shares, compared to its average volume of 19,209. The business’s 50 day simple moving average is $13.39 and its 200-day simple moving average is $12.74. Escalade has a one year low of $11.41 and a one year high of $16.99. The stock has a market cap of $194.30 million, a price-to-earnings ratio of 15.47 and a beta of 0.69. The company has a quick ratio of 1.41, a current ratio of 3.30 and a debt-to-equity ratio of 0.08.

Escalade (NASDAQ:ESCA) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.09. The company had revenue of $67.79 million during the quarter, compared to the consensus estimate of $58.83 million. Escalade had a return on equity of 7.49% and a net margin of 5.26%. On average, equities analysts predict that Escalade will post 0.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other Escalade news, CFO Stephen Wawrin sold 2,000 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $13.00, for a total transaction of $26,000.00. Following the completion of the sale, the chief financial officer directly owned 41,000 shares in the company, valued at approximately $533,000. This trade represents a 4.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard Fenton Baalmann, Jr. sold 5,490 shares of Escalade stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $13.00, for a total value of $71,370.00. Following the completion of the transaction, the director directly owned 100,394 shares of the company’s stock, valued at approximately $1,305,122. This trade represents a 5.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,000 shares of company stock worth $156,100 in the last ninety days. Insiders own 28.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ESCA. Minerva Advisors LLC raised its holdings in shares of Escalade by 2.3% during the third quarter. Minerva Advisors LLC now owns 550,192 shares of the company’s stock valued at $6,916,000 after purchasing an additional 12,378 shares during the period. Geode Capital Management LLC grew its stake in Escalade by 2.1% in the second quarter. Geode Capital Management LLC now owns 221,456 shares of the company’s stock valued at $3,096,000 after acquiring an additional 4,455 shares during the period. Bridgeway Capital Management LLC increased its holdings in shares of Escalade by 2.5% during the third quarter. Bridgeway Capital Management LLC now owns 41,808 shares of the company’s stock valued at $526,000 after acquiring an additional 1,000 shares in the last quarter. Citadel Advisors LLC increased its holdings in shares of Escalade by 120.1% during the third quarter. Citadel Advisors LLC now owns 27,916 shares of the company’s stock valued at $351,000 after acquiring an additional 15,231 shares in the last quarter. Finally, Arete Wealth Advisors LLC raised its position in shares of Escalade by 8.0% during the third quarter. Arete Wealth Advisors LLC now owns 22,605 shares of the company’s stock worth $284,000 after purchasing an additional 1,676 shares during the period. 65.22% of the stock is owned by institutional investors.

Escalade Company Profile

Escalade, Inc is a U.S.-based manufacturer and distributor of recreational equipment and specialty products for both consumer and commercial markets. Headquartered in Evansville, Indiana, the company operates through two principal business segments: Sporting Goods and Commercial Products. The Sporting Goods segment encompasses a diverse range of products such as hockey and lacrosse goal assemblies, fitness accessories, archery and hunting gear, and table tennis equipment. The Commercial Products segment focuses on seating solutions for restaurants, hospitality venues and other public spaces under the Top Seat brand, as well as storage, display products and industrial carts.

Within Sporting Goods, Escalade markets its products under proprietary brands including Bear® Archery, Gene St.