Johnson Outdoors (NASDAQ:JOUT) Stock Moved Up to “Buy” by Wall Street Zen

Wall Street Zen upgraded shares of Johnson Outdoors (NASDAQ:JOUT) from a hold rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

Other equities analysts have also issued reports about the stock. Weiss Ratings upgraded shares of Johnson Outdoors from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Zacks Research downgraded Johnson Outdoors from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 1st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

Johnson Outdoors Price Performance

NASDAQ:JOUT opened at $45.67 on Friday. The firm’s 50-day moving average price is $44.61 and its 200-day moving average price is $46.38. The company has a market capitalization of $478.62 million, a PE ratio of -53.73, a P/E/G ratio of 2.31 and a beta of 0.80. Johnson Outdoors has a 1-year low of $35.65 and a 1-year high of $53.54.

Johnson Outdoors (NASDAQ:JOUT) last issued its quarterly earnings results on Friday, August 7th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 negative net margin of 1.21% and a positive return on equity of 4.26%. Equities analysts anticipate that Johnson Outdoors will post 1.30 EPS for the current fiscal year.

Johnson Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 9th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, October 9th. Johnson Outdoors’s dividend payout ratio is -155.29%.

Insider Buying and Selling

In other Johnson Outdoors news, Director Edward Stevens sold 6,250 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $47.86, for a total transaction of $299,125.00. Following the completion of the sale, the director directly owned 10,640 shares in the company, valued at approximately $509,230.40. This trade represents a 37.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 28.21% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Versant Capital Management Inc boosted its stake in Johnson Outdoors by 72.1% during the 2nd quarter. Versant Capital Management Inc now owns 1,365 shares of the company’s stock valued at $63,000 after purchasing an additional 572 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Johnson Outdoors by 50.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,684 shares of the company’s stock worth $78,000 after purchasing an additional 562 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Johnson Outdoors in the second quarter worth $358,000. Bank of America Corp DE raised its stake in shares of Johnson Outdoors by 51.1% in the first quarter. Bank of America Corp DE now owns 8,018 shares of the company’s stock worth $373,000 after purchasing an additional 2,712 shares during the last quarter. Finally, Marquette Asset Management LLC purchased a new position in shares of Johnson Outdoors in the second quarter worth $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.