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 equities analysts have also recently commented on JOUT. Sidoti cut shares of Johnson Outdoors from a buy rating to a neutral rating and lowered their target price for the company from $102.00 to $80.00 in a research note on Monday, July 15th. BidaskClub raised shares of Johnson Outdoors from a strong sell rating to a sell rating in a research note on Friday, October 4th. ValuEngine raised shares of Johnson Outdoors from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Finally, Imperial Capital lowered their price objective on shares of Johnson Outdoors from $95.00 to $80.00 and set an outperform rating on the stock in a research note on Tuesday, August 6th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Johnson Outdoors presently has a consensus rating of Hold and an average target price of $79.00.
Johnson Outdoors (NASDAQ:JOUT) last released its earnings results on Friday, August 2nd. The company reported $2.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.32 by ($0.13). The company had revenue of $176.25 million for the quarter, compared to analyst estimates of $176.30 million. Johnson Outdoors had a net margin of 7.74% and a return on equity of 14.40%. Analysts anticipate that Johnson Outdoors will post 4.53 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be paid a $0.17 dividend. The ex-dividend date is Thursday, October 10th. This represents a $0.68 annualized dividend and a dividend yield of 1.13%. This is a boost from Johnson Outdoors’s previous quarterly dividend of $0.14. Johnson Outdoors’s payout ratio is currently 11.94%.
In other news, CFO David W. Johnson sold 1,000 shares of Johnson Outdoors stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $60.39, for a total value of $60,390.00. Following the transaction, the chief financial officer now owns 13,958 shares of the company’s stock, valued at approximately $842,923.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 18.60% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Johnson Outdoors by 4.6% in the 2nd quarter. BlackRock Inc. now owns 378,140 shares of the company’s stock worth $28,198,000 after purchasing an additional 16,779 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Johnson Outdoors by 6.4% in the 2nd quarter. Renaissance Technologies LLC now owns 370,900 shares of the company’s stock worth $27,658,000 after purchasing an additional 22,153 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Johnson Outdoors by 5.8% in the 2nd quarter. Vanguard Group Inc. now owns 239,487 shares of the company’s stock worth $17,859,000 after purchasing an additional 13,168 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Johnson Outdoors by 55.4% in the 2nd quarter. Wells Fargo & Company MN now owns 115,761 shares of the company’s stock worth $8,632,000 after purchasing an additional 41,257 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Johnson Outdoors by 6.3% in the second quarter. Northern Trust Corp now owns 98,790 shares of the company’s stock worth $7,366,000 after buying an additional 5,859 shares during the period. 63.47% of the stock is currently owned by institutional investors.
About Johnson Outdoors
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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