Johnson Outdoors (NASDAQ:JOUT) Reaches New 12-Month High – Still a Buy?

Shares of Johnson Outdoors Inc. (NASDAQ:JOUT) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $51.03 and last traded at $50.8450, with a volume of 23545 shares changing hands. The stock had previously closed at $49.33.

Analysts Set New Price Targets

A number of equities analysts have recently commented on JOUT shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Johnson Outdoors in a report on Monday, December 29th. Wall Street Zen raised Johnson Outdoors from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Zacks Research raised Johnson Outdoors from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce”.

Johnson Outdoors Stock Performance

The stock has a market cap of $522.69 million, a P/E ratio of -22.85, a P/E/G ratio of 3.19 and a beta of 0.91. The stock has a 50-day moving average price of $44.39 and a 200-day moving average price of $41.53.

Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings data on Friday, February 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.12. The company had revenue of $140.94 million for the quarter, compared to analysts’ expectations of $123.95 million. Johnson Outdoors had a negative net margin of 3.56% and a positive return on equity of 0.82%. Sell-side analysts forecast that Johnson Outdoors Inc. will post -0.58 earnings per share for the current fiscal year.

Johnson Outdoors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 22nd. Shareholders of record on Thursday, January 8th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, January 8th. This represents a $1.32 annualized dividend and a yield of 2.6%. Johnson Outdoors’s payout ratio is -60.27%.

Insider Activity at Johnson Outdoors

In related news, Director Edward F. Lang sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $43.94, for a total transaction of $87,880.00. Following the transaction, the director directly owned 32,171 shares of the company’s stock, valued at approximately $1,413,593.74. This trade represents a 5.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 28.21% of the company’s stock.

Institutional Investors Weigh In On Johnson Outdoors

A number of institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its position in Johnson Outdoors by 1,175.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 893 shares of the company’s stock worth $27,000 after purchasing an additional 823 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Johnson Outdoors by 260.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,122 shares of the company’s stock valued at $48,000 after buying an additional 811 shares during the last quarter. Highlander Partners L.P. bought a new position in shares of Johnson Outdoors during the fourth quarter valued at about $50,000. Raymond James Financial Inc. purchased a new position in shares of Johnson Outdoors in the second quarter worth about $52,000. Finally, AlphaQuest LLC bought a new stake in shares of Johnson Outdoors in the 2nd quarter valued at about $120,000. Hedge funds and other institutional investors own 64.05% of the company’s stock.

About Johnson Outdoors

Johnson Outdoors Inc is a diversified outdoor recreation company that develops, manufactures and markets a broad range of gear and equipment for marine and land-based activities. The company operates through two primary segments: the Marine Electronics & Boat Group and the Outdoor Products Group. Its marine offerings include electric motors and anchors under the Minn Kota® brand, fish-finding and sonar systems under the Humminbird® brand, and a lineup of recreational watercraft under the Old Town® and Ocean Kayak® names.