Johnson Outdoors (NASDAQ:JOUT) Rating Lowered to Strong Sell at Zacks Research

Johnson Outdoors (NASDAQ:JOUT) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday, Zacks reports.

Separately, Weiss Ratings upgraded Johnson Outdoors from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Johnson Outdoors Price Performance

Shares of JOUT stock opened at $44.91 on Thursday. The firm’s 50-day moving average is $46.01 and its two-hundred day moving average is $46.40. Johnson Outdoors has a 12 month low of $35.65 and a 12 month high of $53.54. The company has a market capitalization of $470.66 million, a PE ratio of -52.83, a price-to-earnings-growth ratio of 2.25 and a beta of 0.80.

Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings results on Friday, August 7th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.74. The business had revenue of $189.73 million during the quarter, compared to analysts’ expectations of $186.19 million. Johnson Outdoors had a negative net margin of 1.21% and a positive return on equity of 4.26%. Sell-side analysts forecast that Johnson Outdoors will post 1.3 EPS for the current year.

Insider Buying and Selling at Johnson Outdoors

In related news, Director Edward Stevens sold 6,250 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $47.86, for a total value of $299,125.00. Following the sale, the director owned 10,640 shares in the company, valued at approximately $509,230.40. The trade was a 37.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 28.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in JOUT. Engineers Gate Manager LP boosted its stake in shares of Johnson Outdoors by 130.2% in the 2nd quarter. Engineers Gate Manager LP now owns 16,141 shares of the company’s stock valued at $743,000 after buying an additional 9,130 shares during the period. Round Rock Advisors LLC lifted its stake in Johnson Outdoors by 78.9% during the second quarter. Round Rock Advisors LLC now owns 21,438 shares of the company’s stock worth $987,000 after purchasing an additional 9,453 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Johnson Outdoors in the second quarter valued at approximately $358,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Johnson Outdoors in the second quarter valued at approximately $1,077,000. Finally, Marquette Asset Management LLC purchased a new position in Johnson Outdoors in the second quarter valued at approximately $412,000. Institutional investors and hedge funds own 64.05% of the company’s stock.

About Johnson Outdoors

Johnson Outdoors Inc is an outdoor recreation company that designs, manufactures and markets equipment for fishing, watercraft, diving, camping and other outdoor activities. Its products are sold through retailers, dealers and distributors in the United States and international markets.

The company’s fishing portfolio includes Minn Kota electric trolling motors, Humminbird marine electronics and Cannon downriggers. Its watercraft brands include Old Town kayaks and canoes, Ocean Kayak products and Carlisle paddles, while its camping business includes Eureka! tents and outdoor equipment and Jetboil cooking systems.