Zacks Research Upgrades Escalade (NASDAQ:ESCA) to Strong-Buy

Escalade (NASDAQ:ESCA) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Several other equities analysts have also commented on the stock. Wall Street Zen raised shares of Escalade from a “buy” rating to a “strong-buy” rating in a report on Sunday, February 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Escalade in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Escalade presently has a consensus rating of “Buy”.

Escalade Stock Up 3.6%

Shares of NASDAQ:ESCA opened at $15.00 on Thursday. The firm has a market capitalization of $205.50 million, a PE ratio of 15.15 and a beta of 0.70. The firm has a fifty day moving average of $14.20 and a 200 day moving average of $13.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.41 and a current ratio of 4.28. Escalade has a 52-week low of $11.41 and a 52-week high of $16.99.

Escalade (NASDAQ:ESCA) last issued its quarterly earnings results on Friday, February 27th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.07. The business had revenue of $62.56 million for the quarter, compared to analysts’ expectations of $57.55 million. Escalade had a net margin of 5.70% and a return on equity of 8.03%. As a group, research analysts anticipate that Escalade will post 0.93 EPS for the current fiscal year.

Insider Transactions at Escalade

In other Escalade news, Director Richard Fenton Baalmann, Jr. sold 5,490 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $13.00, for a total transaction of $71,370.00. Following the transaction, the director directly owned 100,394 shares of the company’s stock, valued at approximately $1,305,122. The trade was a 5.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 28.75% of the company’s stock.

Institutional Investors Weigh In On Escalade

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of Escalade by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 221,456 shares of the company’s stock valued at $3,096,000 after purchasing an additional 4,455 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in Escalade in the second quarter worth about $32,000. Raymond James Financial Inc. purchased a new stake in Escalade in the second quarter worth about $29,000. Tower Research Capital LLC TRC boosted its position in Escalade by 439.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,622 shares of the company’s stock valued at $51,000 after acquiring an additional 2,950 shares in the last quarter. Finally, Certior Financial Group LLC bought a new stake in Escalade during the 3rd quarter valued at approximately $141,000. 65.22% of the stock is owned by hedge funds and other institutional investors.

About Escalade

Escalade, Inc is a U.S.-based manufacturer and distributor of recreational equipment and specialty products for both consumer and commercial markets. Headquartered in Evansville, Indiana, the company operates through two principal business segments: Sporting Goods and Commercial Products. The Sporting Goods segment encompasses a diverse range of products such as hockey and lacrosse goal assemblies, fitness accessories, archery and hunting gear, and table tennis equipment. The Commercial Products segment focuses on seating solutions for restaurants, hospitality venues and other public spaces under the Top Seat brand, as well as storage, display products and industrial carts.

Within Sporting Goods, Escalade markets its products under proprietary brands including Bear® Archery, Gene St.