Escalade, Incorporated (NASDAQ:ESCA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Escalade, Incorporated is a diversified company engaged in the manufacture and sale of sporting goods products and office and graphic arts products. The company offers a broad and complete product selection that is built on innovation and cutting edge product design. These diverse products include table tennis tables and equipment; pool tables and equipment; other game tables which include table soccer, table hockey, and multi games; basketball systems; and archery Equipment. “
Escalade, (NASDAQ:ESCA) traded up 1.92% during mid-day trading on Tuesday, reaching $13.25. The company had a trading volume of 5,110 shares. The firm’s 50 day moving average price is $13.59 and its 200-day moving average price is $12.19. Escalade, has a 12 month low of $9.70 and a 12 month high of $14.70. The company has a market capitalization of $189.49 million, a price-to-earnings ratio of 17.32 and a beta of 0.37.
The company also recently announced a quarterly dividend, which was paid on Monday, December 19th. Stockholders of record on Monday, December 12th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Thursday, December 8th. Escalade,’s payout ratio is currently 57.14%.
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Several hedge funds have recently bought and sold shares of the stock. Parthenon LLC increased its stake in Escalade, by 24.4% in the second quarter. Parthenon LLC now owns 152,240 shares of the company’s stock valued at $1,559,000 after buying an additional 29,893 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Escalade, by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 84,774 shares of the company’s stock valued at $868,000 after buying an additional 3,021 shares during the last quarter. Minerva Advisors LLC increased its stake in Escalade, by 19.8% in the second quarter. Minerva Advisors LLC now owns 415,960 shares of the company’s stock valued at $4,260,000 after buying an additional 68,738 shares during the last quarter. California State Teachers Retirement System increased its stake in Escalade, by 4.9% in the second quarter. California State Teachers Retirement System now owns 22,115 shares of the company’s stock valued at $226,000 after buying an additional 1,039 shares during the last quarter. Finally, Skylands Capital LLC increased its stake in Escalade, by 79.3% in the second quarter. Skylands Capital LLC now owns 34,700 shares of the company’s stock valued at $355,000 after buying an additional 15,350 shares during the last quarter. 24.82% of the stock is owned by institutional investors and hedge funds.
Escalade, Incorporated (Escalade) is a manufacturer and distributor of sporting goods through its subsidiary Escalade Sports. The Company operates in Sporting Goods (Escalade Sports) segment. Escalade Sports manufactures, imports and distributes sporting goods brands in basketball goals, archery, indoor and outdoor game recreation and fitness products through sporting goods retailers, specialty dealers, key online retailers, traditional department stores and mass merchants.
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