Johnson Outdoors (NASDAQ:JOUT) Stock Rating Upgraded by Wall Street Zen

Johnson Outdoors (NASDAQ:JOUT) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

A number of other research firms have also commented on JOUT. Weiss Ratings raised shares of Johnson Outdoors from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Zacks Research downgraded Johnson Outdoors from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 1st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce”.

Johnson Outdoors Price Performance

Shares of NASDAQ:JOUT opened at $45.67 on Friday. The business’s 50 day moving average is $44.61 and its 200 day moving average is $46.38. Johnson Outdoors has a 52-week low of $35.65 and a 52-week high of $53.54. The stock has a market cap of $478.62 million, a P/E ratio of -53.73, a price-to-earnings-growth ratio of 2.31 and a beta of 0.80.

Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings data on Friday, August 7th. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $0.68 by $0.74. The firm had revenue of $189.73 million during the quarter, compared to the consensus estimate of $186.19 million. Johnson Outdoors had a positive return on equity of 4.26% and a negative net margin of 1.21%. On average, sell-side analysts anticipate that Johnson Outdoors will post 1.30 EPS for the current fiscal year.

Insider Activity

In other Johnson Outdoors news, Director Edward Stevens sold 6,250 shares of the company’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 transaction, the director owned 10,640 shares of the company’s stock, valued at $509,230.40. This represents a 37.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 28.21% of the company’s stock.

Hedge Funds Weigh In On Johnson Outdoors

Several institutional investors and hedge funds have recently modified their holdings of JOUT. Versant Capital Management Inc increased its holdings in shares of Johnson Outdoors by 72.1% during the 2nd quarter. Versant Capital Management Inc now owns 1,365 shares of the company’s stock worth $63,000 after buying an additional 572 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Johnson Outdoors by 50.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,684 shares of the company’s stock worth $78,000 after acquiring an additional 562 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Johnson Outdoors in the second quarter valued at $358,000. Bank of America Corp DE raised its holdings in shares of Johnson Outdoors by 51.1% in the 1st quarter. Bank of America Corp DE now owns 8,018 shares of the company’s stock worth $373,000 after purchasing an additional 2,712 shares during the period. Finally, Marquette Asset Management LLC acquired a new stake in Johnson Outdoors in the second quarter valued at approximately $412,000. Hedge funds and other institutional investors 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 and camping. Its products are sold through specialty retailers, sporting-goods stores, online channels and distributors in North America and international markets.

The company’s marine businesses include Minn Kota electric trolling motors, Humminbird fish-finding and marine electronics, and Cannon downriggers. Its watercraft portfolio includes Old Town canoes, kayaks and paddlecraft, along with related paddles and accessories marketed under brands such as Carlisle.

Johnson Outdoors also offers diving equipment through its SCUBAPRO brand and camping and outdoor gear through brands including Eureka! and Jetboil.