Zacks Investment Research Downgrades Johnson Outdoors (NASDAQ:JOUT) to Hold

Zacks Investment Research cut shares of Johnson Outdoors (NASDAQ:JOUT) from a strong-buy rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Johnson Outdoors Inc. is a leading global outdoor recreation company that turns ideas into adventure with innovative, top-quality products. The Company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft, Marine Electronics, Diving and Outdoor Equipment. Johnson Outdoors’ familiar brands include, among others: Old Town canoes and kayaks; Ocean Kayak and Necky kayaks; Lendal paddles; Escape electric boats; Minn Kota motors; Cannon downriggers; Humminbird, Bottom Line and Fishin’ Buddy fishfinders; Scubapro and UWATEC dive equipment; Silva compasses and digital instruments; and Eureka! tents. “

Several other research firms have also recently weighed in on JOUT. BidaskClub upgraded shares of Wintrust Financial from a strong sell rating to a sell rating in a research report on Monday, April 1st. Imperial Capital lifted their price objective on shares of PARKER DRILLING/SH PAR $ from $20.00 to $25.00 and gave the stock an outperform rating in a research report on Thursday, May 9th. Finally, ValuEngine upgraded shares of USINAS SIDERURG/S from a sell rating to a hold rating in a research report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $94.00.

Johnson Outdoors stock opened at $74.39 on Wednesday. The firm has a market capitalization of $747.55 million, a price-to-earnings ratio of 16.87 and a beta of 0.97. Johnson Outdoors has a 1 year low of $54.66 and a 1 year high of $107.36. The business has a 50 day simple moving average of $76.65.

Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.32. Johnson Outdoors had a net margin of 8.13% and a return on equity of 15.51%. The firm had revenue of $177.71 million for the quarter, compared to analyst estimates of $171.80 million. As a group, analysts expect that Johnson Outdoors will post 4.76 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Wednesday, July 10th. Johnson Outdoors’s payout ratio is 11.94%.

In other Johnson Outdoors news, CFO David W. Johnson sold 1,000 shares of Johnson Outdoors stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $82.07, for a total transaction of $82,070.00. Following the transaction, the chief financial officer now directly owns 14,958 shares in the company, valued at approximately $1,227,603.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 18.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. James Investment Research Inc. grew its holdings in shares of Johnson Outdoors by 3.0% during the 1st quarter. James Investment Research Inc. now owns 6,185 shares of the company’s stock valued at $441,000 after acquiring an additional 180 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Johnson Outdoors by 4.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,963 shares of the company’s stock valued at $292,000 after acquiring an additional 212 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Johnson Outdoors by 16.4% during the 4th quarter. Citigroup Inc. now owns 1,558 shares of the company’s stock valued at $92,000 after acquiring an additional 220 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in shares of Johnson Outdoors by 12.0% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 6,797 shares of the company’s stock valued at $511,000 after acquiring an additional 729 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Johnson Outdoors by 3,187.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,019 shares of the company’s stock valued at $73,000 after acquiring an additional 988 shares in the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

Johnson Outdoors Company Profile

Johnson Outdoors Inc designs, manufactures, and markets camping, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers electric 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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