Johnson Outdoors (NASDAQ:JOUT) Downgraded by Sidoti

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Johnson Outdoors (NASDAQ:JOUT) was downgraded by equities research analysts at Sidoti from a “buy” rating to a “neutral” rating in a research report issued on Monday, Marketbeat reports. They currently have a $80.00 target price on the stock, down from their previous target price of $102.00. Sidoti’s price objective points to a potential upside of 12.69% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Friday, July 12th. ValuEngine upgraded USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, Imperial Capital upped their price target on PARKER DRILLING/SH PAR $ from $20.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $89.33.

Shares of NASDAQ:JOUT opened at $70.99 on Monday. Johnson Outdoors has a 1 year low of $54.66 and a 1 year high of $107.36. The stock has a market cap of $747.54 million, a PE ratio of 15.14 and a beta of 0.97. The business’s 50-day moving average price is $76.15.

Johnson Outdoors (NASDAQ:JOUT) last issued its earnings results on Friday, May 3rd. The company reported $2.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.32. Johnson Outdoors had a return on equity of 15.51% and a net margin of 8.13%. The business had revenue of $177.71 million during the quarter, compared to analysts’ expectations of $171.80 million. As a group, equities analysts predict that Johnson Outdoors will post 4.76 earnings per share for the current fiscal year.

In other Johnson Outdoors news, CFO David W. Johnson sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $82.07, for a total value of $82,070.00. Following the completion of the transaction, the chief financial officer now owns 14,958 shares in the company, valued at approximately $1,227,603.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 18.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Mesirow Financial Investment Management Inc. grew its holdings in Johnson Outdoors by 12.0% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 6,797 shares of the company’s stock valued at $511,000 after buying an additional 729 shares during the last quarter. Hancock Whitney Corp grew its holdings in Johnson Outdoors by 30.7% in the 1st quarter. Hancock Whitney Corp now owns 19,030 shares of the company’s stock valued at $1,358,000 after buying an additional 4,473 shares during the last quarter. THB Asset Management grew its holdings in Johnson Outdoors by 48.4% in the 1st quarter. THB Asset Management now owns 221,935 shares of the company’s stock valued at $15,837,000 after buying an additional 72,423 shares during the last quarter. Tredje AP fonden grew its holdings in Johnson Outdoors by 1.3% in the 1st quarter. Tredje AP fonden now owns 82,977 shares of the company’s stock valued at $3,087,000 after buying an additional 1,027 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in Johnson Outdoors by 63.6% in the 1st quarter. Royce & Associates LP now owns 231,722 shares of the company’s stock valued at $16,536,000 after buying an additional 90,053 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors.

About Johnson Outdoors

Johnson Outdoors Inc designs, manufactures, and markets camping, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers electric motors for trolling or primary propulsion, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.

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