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

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

A number of other equities analysts also recently commented on JOUT. Imperial Capital lifted their target price on PARKER DRILLING/SH PAR $ from $20.00 to $25.00 and gave the company an outperform rating in a research note on Thursday, May 9th. BidaskClub upgraded Wintrust Financial from a strong sell rating to a sell rating in a research note on Monday, April 1st. Finally, ValuEngine upgraded USINAS SIDERURG/S from a sell rating to a hold rating in a research note on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $94.00.

NASDAQ:JOUT opened at $74.39 on Wednesday. The stock has a 50-day moving average price of $76.65. Johnson Outdoors has a one year low of $54.66 and a one year high of $107.36. The firm has a market capitalization of $747.55 million, a P/E ratio of 16.87 and a beta of 0.97.

Johnson Outdoors (NASDAQ:JOUT) last issued its earnings results on Friday, May 3rd. The company reported $2.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.32. Johnson Outdoors had a return on equity of 15.51% and a net margin of 8.13%. The company had revenue of $177.71 million during the quarter, compared to the consensus estimate of $171.80 million. Analysts predict that Johnson Outdoors will post 4.76 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $0.56 dividend on an annualized basis and a yield of 0.75%. Johnson Outdoors’s payout ratio is currently 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 stock was sold at an average price of $82.07, for a total value of $82,070.00. Following the completion of the transaction, the chief financial officer now directly owns 14,958 shares in the company, valued at $1,227,603.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 18.60% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. THB Asset Management raised its holdings in shares of Johnson Outdoors by 48.4% during the first quarter. THB Asset Management now owns 221,935 shares of the company’s stock valued at $15,837,000 after buying an additional 72,423 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of Johnson Outdoors by 48.3% during the fourth quarter. Squarepoint Ops LLC now owns 8,128 shares of the company’s stock valued at $477,000 after buying an additional 2,648 shares during the last quarter. Mesirow Financial Investment Management Inc. bought a new stake in shares of Johnson Outdoors during the first quarter valued at approximately $433,000. Geode Capital Management LLC raised its holdings in shares of Johnson Outdoors by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 117,476 shares of the company’s stock valued at $6,900,000 after buying an additional 3,030 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Johnson Outdoors by 54.4% during the fourth quarter. New York State Common Retirement Fund now owns 15,861 shares of the company’s stock valued at $932,000 after buying an additional 5,590 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors.

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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