Johnson Outdoors (NASDAQ:JOUT) Shares Break Above 200-Day Moving Average – Here’s Why

Johnson Outdoors Inc. (NASDAQ:JOUT)’s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $46.40 and traded as high as $48.02. Johnson Outdoors shares last traded at $47.83, with a volume of 29,540 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have commented on JOUT. Wall Street Zen upgraded shares of Johnson Outdoors from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research lowered shares of Johnson Outdoors from a “hold” rating to a “strong sell” rating in a report on Thursday, October 1st. Finally, 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. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce”.

Johnson Outdoors Price Performance

The stock has a market capitalization of $512.89 million, a P/E ratio of 27.95, a PEG ratio of 2.36 and a beta of 0.80. The stock has a 50 day moving average price of $44.68 and a 200-day moving average price of $46.43.

Johnson Outdoors (NASDAQ:JOUT) last released its earnings results on Friday, August 7th. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.74. The company had revenue of $189.73 million during the quarter, compared to analyst estimates of $186.19 million. Johnson Outdoors had a positive return on equity of 4.26% and a negative net margin of 1.21%. Research analysts predict that Johnson Outdoors Inc. will post 1.30 earnings per share for the current fiscal year.

Johnson Outdoors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 9th were given a $0.33 dividend. The ex-dividend date was Friday, October 9th. This represents a $1.32 annualized dividend and a yield of 2.7%. Johnson Outdoors’s payout ratio is presently -155.29%.

Insiders Place Their Bets

In other news, Director Edward Stevens sold 6,250 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $47.86, for a total transaction of $299,125.00. Following the completion of the sale, the director owned 10,640 shares of the company’s stock, valued at approximately $509,230.40. This represents a 37.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 28.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP raised its stake in shares of Johnson Outdoors by 130.2% during the second quarter. Engineers Gate Manager LP now owns 16,141 shares of the company’s stock valued at $743,000 after acquiring an additional 9,130 shares during the last quarter. Round Rock Advisors LLC boosted its holdings in shares of 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 period. Public Employees Retirement System of Ohio purchased a new stake in shares of Johnson Outdoors during the second quarter worth about $358,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Johnson Outdoors during the second quarter worth about $1,077,000. Finally, Marquette Asset Management LLC bought a new stake in shares of Johnson Outdoors in the second quarter worth about $412,000. 64.05% of the stock is owned by hedge funds and other institutional investors.

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.