Escalade (NASDAQ:ESCA) Now Covered by LADENBURG THALM/SH SH

Key Points

• LADENBURG THALM/SH SH initiated coverage of Escalade with a “neutral” rating, while the broader analyst consensus remains “Hold.”
• Escalade shares opened at $18.60, down 0.2%, with a market capitalization of approximately $256 million. The company recently reported quarterly EPS of $0.68, exceeding the $0.16 analyst consensus.
• Insiders have sold 41,227 shares worth about $872,743 over the past 90 days, while institutional investors and hedge funds own approximately 65.22% of Escalade’s outstanding stock.

Research analysts at LADENBURG THALM/SH SH started coverage on shares of Escalade (NASDAQ:ESCA - Get Free Report) in a report issued on Tuesday, Briefing.com reports. The firm set a "neutral" rating on the stock.

Several other equities research analysts have also recently issued reports on ESCA. Weiss Ratings cut shares of Escalade from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday. Zacks Research downgraded shares of Escalade from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Escalade presently has a consensus rating of "Hold".

Escalade Trading Down 0.2%

Shares of NASDAQ ESCA opened at $18.60 on Tuesday. The business's fifty day simple moving average is $20.06 and its 200-day simple moving average is $19.11. The stock has a market cap of $256.12 million, a P/E ratio of 11.14 and a beta of 0.52. Escalade has a 12-month low of $11.41 and a 12-month high of $23.07.

Escalade (NASDAQ:ESCA - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.52. Escalade had a net margin of 9.46% and a return on equity of 13.11%. The firm had revenue of $57.70 million for the quarter, compared to analyst estimates of $57.60 million. On average, equities analysts forecast that Escalade will post 1.56 EPS for the current fiscal year.

Insider Activity at Escalade

In related news, CFO Stephen Wawrin sold 3,177 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $21.40, for a total value of $67,987.80. Following the completion of the sale, the chief financial officer directly owned 45,000 shares of the company's stock, valued at $963,000. The trade was a 6.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Fenton Baalmann, Jr. sold 5,000 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $22.27, for a total transaction of $111,350.00. Following the completion of the transaction, the director owned 97,794 shares of the company's stock, valued at $2,177,872.38. This represents a 4.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,227 shares of company stock valued at $872,743 in the last ninety days. Insiders own 33.14% of the company's stock.

Institutional Trading of Escalade

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG acquired a new stake in shares of Escalade in the 2nd quarter valued at about $156,000. Bank of America Corp DE grew its stake in Escalade by 13.9% during the 1st quarter. Bank of America Corp DE now owns 10,442 shares of the company's stock worth $179,000 after buying an additional 1,271 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in Escalade during the second quarter worth approximately $208,000. Hillsdale Investment Management Inc. acquired a new position in Escalade during the first quarter worth approximately $311,000. Finally, Royal Bank of Canada increased its position in Escalade by 3.4% during the first quarter. Royal Bank of Canada now owns 20,033 shares of the company's stock worth $344,000 after buying an additional 661 shares during the period. Institutional investors and hedge funds own 65.22% of the company's stock.

About Escalade

Escalade, Incorporated is a sporting goods company headquartered in Evansville, Indiana. The company designs, manufactures and distributes products for recreational and competitive sports, serving consumers, schools, commercial venues and other organizations.

Its product portfolio includes table tennis equipment, pickleball paddles and accessories, dartboards and darting equipment, basketball goals, game tables, indoor and outdoor recreation products, and related sporting goods. Escalade markets products under several brands, including STIGA for table tennis and ONIX for pickleball, along with additional brands serving the darting, basketball and game-room categories.

The company sells its products through sporting goods retailers, specialty dealers, mass merchants, e-commerce channels and institutional customers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.