Escalade (NASDAQ:ESCA) Stock Rating Lowered by Zacks Research

Escalade (NASDAQ:ESCA) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Separately, Weiss Ratings raised Escalade from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 22nd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Escalade Price Performance

Escalade stock opened at $18.65 on Monday. The business has a 50 day simple moving average of $20.20 and a 200-day simple moving average of $19.09. Escalade has a 12 month low of $11.41 and a 12 month high of $23.07. The stock has a market capitalization of $256.81 million, a PE ratio of 11.17 and a beta of 0.52.

Escalade (NASDAQ:ESCA) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.52. Escalade had a net margin of 9.46% and a return on equity of 13.11%. The company had revenue of $57.70 million for the quarter, compared to analysts’ expectations of $57.60 million. As a group, equities research analysts anticipate that Escalade will post 1.56 EPS for the current year.

Insider Buying and Selling

In related news, CFO Stephen Wawrin sold 3,177 shares of Escalade stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $21.40, for a total transaction of $67,987.80. Following the completion of the transaction, the chief financial officer directly owned 45,000 shares of the company’s stock, valued at approximately $963,000. The trade was a 6.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Edward Williams sold 30,315 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $20.98, for a total value of $636,008.70. Following the sale, the director owned 132,187 shares in the company, valued at approximately $2,773,283.26. The trade was a 18.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 41,227 shares of company stock valued at $872,743. 33.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Escalade

A number of large investors have recently added to or reduced their stakes in ESCA. Deutsche Bank AG purchased a new position in Escalade during the 2nd quarter valued at about $156,000. Bank of America Corp DE lifted its holdings in shares of Escalade by 13.9% in the first quarter. Bank of America Corp DE now owns 10,442 shares of the company’s stock valued at $179,000 after purchasing an additional 1,271 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Escalade in the second quarter valued at approximately $208,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Escalade in the first quarter valued at approximately $311,000. Finally, Royal Bank of Canada increased its stake in shares of Escalade by 3.4% during the 1st quarter. Royal Bank of Canada now owns 20,033 shares of the company’s stock worth $344,000 after purchasing an additional 661 shares in the last quarter. 65.22% of the stock is owned by institutional investors and hedge funds.

About Escalade

Escalade, Incorporated is a sporting goods company headquartered in Evansville, Indiana. The company designs, manufactures and distributes products for recreational and competitive sports, serving consumers, schools, commercial venues and other organizations.

Its product portfolio includes table tennis equipment, pickleball paddles and accessories, dartboards and darting equipment, basketball goals, game tables, indoor and outdoor recreation products, and related sporting goods. Escalade markets products under several brands, including STIGA for table tennis and ONIX for pickleball, along with additional brands serving the darting, basketball and game-room categories.

The company sells its products through sporting goods retailers, specialty dealers, mass merchants, e-commerce channels and institutional customers.