Zacks Investment Research lowered shares of Johnson Outdoors Inc. (NASDAQ:JOUT) from a strong-buy rating to a hold rating in a research report released on Tuesday.
According to Zacks, “Johnson Outdoors Inc. is a leading global outdoor recreation company that turns ideas into adventure with innovative, top-quality products. The Company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft, Marine Electronics, Diving and Outdoor Equipment. Johnson Outdoors’ familiar brands include, among others: Old Town canoes and kayaks; Ocean Kayak and Necky kayaks; Lendal paddles; Escape electric boats; Minn Kota motors; Cannon downriggers; Humminbird, Bottom Line and Fishin’ Buddy fishfinders; Scubapro and UWATEC dive equipment; Silva compasses and digital instruments; and Eureka! tents. “
A number of other research firms have also recently issued reports on JOUT. BidaskClub cut shares of Johnson Outdoors from a buy rating to a hold rating in a research report on Tuesday, July 25th. ValuEngine upgraded shares of Johnson Outdoors from a hold rating to a buy rating in a research report on Friday, September 1st. Forward View upgraded shares of Johnson Outdoors from a hold rating to a buy rating in a research report on Friday, August 4th. Finally, Imperial Capital boosted their price objective on shares of Johnson Outdoors from $49.00 to $63.00 and gave the company an outperform rating in a research report on Monday, August 7th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $67.00.
Shares of Johnson Outdoors (JOUT) traded up 0.56% during mid-day trading on Tuesday, hitting $72.36. 5,757 shares of the company traded hands. Johnson Outdoors has a 1-year low of $31.25 and a 1-year high of $76.18. The firm’s 50 day moving average price is $67.34 and its 200-day moving average price is $50.96. The stock has a market capitalization of $711.44 million, a PE ratio of 22.35 and a beta of 0.76.
Johnson Outdoors (NASDAQ:JOUT) last released its quarterly earnings data on Friday, August 4th. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.63. Johnson Outdoors had a net margin of 6.85% and a return on equity of 12.90%. The firm had revenue of $155.27 million for the quarter, compared to analysts’ expectations of $149.29 million. On average, equities research analysts forecast that Johnson Outdoors will post $3.49 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be given a $0.10 dividend. This is a boost from Johnson Outdoors’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, October 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.56%. Johnson Outdoors’s payout ratio is presently 11.15%.
In other Johnson Outdoors news, Director Thomas F. Pyle, Jr. sold 1,000 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $63.16, for a total value of $63,160.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Terry E. London sold 1,127 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $59.81, for a total transaction of $67,405.87. The disclosure for this sale can be found here. Insiders sold 5,077 shares of company stock worth $322,834 in the last 90 days. Corporate insiders own 28.03% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in JOUT. Vanguard Group Inc. boosted its stake in shares of Johnson Outdoors by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 196,830 shares of the company’s stock valued at $7,184,000 after purchasing an additional 24,147 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Johnson Outdoors by 2.9% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 12,593 shares of the company’s stock valued at $460,000 after purchasing an additional 360 shares in the last quarter. UBS Group AG boosted its stake in shares of Johnson Outdoors by 416.1% during the 1st quarter. UBS Group AG now owns 5,445 shares of the company’s stock valued at $199,000 after purchasing an additional 4,390 shares in the last quarter. Oxford Asset Management bought a new stake in shares of Johnson Outdoors during the 1st quarter valued at about $281,000. Finally, LSV Asset Management boosted its stake in shares of Johnson Outdoors by 7.7% during the 2nd quarter. LSV Asset Management now owns 262,083 shares of the company’s stock valued at $12,635,000 after purchasing an additional 18,788 shares in the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.
Johnson Outdoors Company Profile
Johnson Outdoors Inc is a manufacturer and marketer of branded seasonal, outdoor recreation products. The Company operates through four segments: Marine Electronics, Outdoor Equipment, Watercraft and Diving. Its Marine Electronics segment’s brands are Minn Kota, Humminbird and Cannon. Its Outdoor Equipment segment’s brands are Eureka!, Jetboil and Silva.
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