Escalade (NASDAQ:ESCA) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Escalade (NASDAQ:ESCA) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

A number of other equities research analysts have also recently commented on ESCA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Escalade in a research note on Thursday, January 22nd. Zacks Research downgraded shares of Escalade from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 27th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Escalade Trading Up 2.2%

NASDAQ ESCA opened at $14.86 on Friday. Escalade has a 1 year low of $11.41 and a 1 year high of $16.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.30 and a quick ratio of 1.41. The company has a market capitalization of $205.07 million, a PE ratio of 16.33 and a beta of 0.69. The company has a fifty day moving average of $13.49 and a 200 day moving average of $12.77.

Insider Activity at Escalade

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

Institutional Trading of Escalade

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Escalade in the 2nd quarter worth about $29,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Escalade in the second quarter valued at approximately $32,000. Tower Research Capital LLC TRC boosted its stake in shares of Escalade by 439.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,622 shares of the company’s stock worth $51,000 after acquiring an additional 2,950 shares during the last quarter. Certior Financial Group LLC purchased a new stake in shares of Escalade during the third quarter worth approximately $141,000. Finally, JPMorgan Chase & Co. raised its stake in Escalade by 13.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,853 shares of the company’s stock valued at $174,000 after purchasing an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

About Escalade

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.