Johnson Outdoors (NASDAQ:JOUT) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Johnson Outdoors (NASDAQ:JOUT) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

Johnson Outdoors Stock Performance

Johnson Outdoors stock opened at $36.28 on Thursday. The stock has a 50-day simple moving average of $36.32 and a 200-day simple moving average of $40.50. The company has a market capitalization of $373.72 million, a P/E ratio of 77.19, a PEG ratio of 3.99 and a beta of 0.74. Johnson Outdoors has a fifty-two week low of $32.79 and a fifty-two week high of $59.65.

Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.06). The company had revenue of $172.47 million for the quarter, compared to analysts’ expectations of $176.14 million. Johnson Outdoors had a net margin of 0.82% and a return on equity of 0.97%. During the same period in the prior year, the company earned $1.44 earnings per share. As a group, analysts forecast that Johnson Outdoors will post 0.73 earnings per share for the current year.

Johnson Outdoors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.64%. The ex-dividend date was Thursday, July 11th. Johnson Outdoors’s dividend payout ratio is presently 280.85%.

Hedge Funds Weigh In On Johnson Outdoors

A number of large investors have recently modified their holdings of JOUT. SG Americas Securities LLC purchased a new position in shares of Johnson Outdoors during the 4th quarter worth approximately $101,000. International Assets Investment Management LLC purchased a new position in shares of Johnson Outdoors during the 4th quarter worth approximately $2,996,000. Russell Investments Group Ltd. raised its stake in shares of Johnson Outdoors by 19.2% during the 4th quarter. Russell Investments Group Ltd. now owns 115,725 shares of the company’s stock worth $6,182,000 after buying an additional 18,607 shares in the last quarter. Skylands Capital LLC raised its stake in shares of Johnson Outdoors by 38.9% during the 4th quarter. Skylands Capital LLC now owns 95,400 shares of the company’s stock worth $5,096,000 after buying an additional 26,742 shares in the last quarter. Finally, Isthmus Partners LLC raised its stake in shares of Johnson Outdoors by 7.8% during the 4th quarter. Isthmus Partners LLC now owns 27,340 shares of the company’s stock worth $1,461,000 after buying an additional 1,988 shares in the last quarter. 64.05% of the stock is owned by hedge funds and other institutional investors.

Johnson Outdoors Company Profile

Johnson Outdoors Inc designs, manufactures, and markets seasonal and outdoor recreational products for fishing worldwide. It operates through four segments: Fishing, Camping, Watercraft Recreation, and Diving. The Fishing segment offers electric motors for trolling, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.