Johnson Outdoors (JOUT) Cut to Sell at ValuEngine

ValuEngine lowered shares of Johnson Outdoors (NASDAQ:JOUT) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

JOUT has been the subject of a number of other research reports. BidaskClub lowered Johnson Outdoors from a hold rating to a sell rating in a research note on Tuesday, October 2nd. Sidoti upgraded Johnson Outdoors from a neutral rating to a buy rating in a research note on Tuesday, August 7th. Zacks Investment Research lowered Johnson Outdoors from a strong-buy rating to a hold rating in a research note on Wednesday, October 10th. Finally, Imperial Capital increased their target price on Johnson Outdoors from $95.00 to $110.00 and gave the company an outperform rating in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Johnson Outdoors presently has a consensus rating of Hold and an average price target of $98.50.

Shares of JOUT stock traded down $1.65 during trading hours on Wednesday, reaching $71.74. The company had a trading volume of 22,081 shares, compared to its average volume of 31,687. Johnson Outdoors has a twelve month low of $59.13 and a twelve month high of $107.36. The firm has a market cap of $737.43 million, a P/E ratio of 23.29 and a beta of 0.90.

Johnson Outdoors (NASDAQ:JOUT) last posted its earnings results on Tuesday, August 7th. The company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.41. Johnson Outdoors had a return on equity of 20.47% and a net margin of 8.48%. The business had revenue of $170.78 million during the quarter, compared to analyst estimates of $160.86 million. As a group, research analysts expect that Johnson Outdoors will post 5.15 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 24th. Stockholders of record on Wednesday, October 10th were paid a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.78%. This is a positive change from Johnson Outdoors’s previous quarterly dividend of $0.12. Johnson Outdoors’s dividend payout ratio (DPR) is 18.18%.

Several hedge funds have recently bought and sold shares of the company. Sei Investments Co. acquired a new stake in Johnson Outdoors during the 2nd quarter valued at approximately $522,000. Renaissance Technologies LLC grew its stake in Johnson Outdoors by 12.4% during the 2nd quarter. Renaissance Technologies LLC now owns 397,300 shares of the company’s stock valued at $33,584,000 after purchasing an additional 43,700 shares in the last quarter. EAM Investors LLC acquired a new stake in Johnson Outdoors during the 2nd quarter valued at approximately $1,172,000. Acadian Asset Management LLC grew its stake in Johnson Outdoors by 0.7% during the 2nd quarter. Acadian Asset Management LLC now owns 169,735 shares of the company’s stock valued at $14,346,000 after purchasing an additional 1,187 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its stake in Johnson Outdoors by 72.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 8,936 shares of the company’s stock valued at $755,000 after purchasing an additional 3,761 shares in the last quarter. Institutional investors and hedge funds own 63.19% of the company’s stock.

About Johnson Outdoors

Johnson Outdoors Inc designs, manufactures, and markets outdoor equipment, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers battery-powered fishing motors for trolling or primary propulsion, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.

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