Escalade (NASDAQ:ESCA) Stock Rating Cut to Hold at Zacks Research

Key Points

• Zacks Research downgraded Escalade from “strong buy” to “hold,” although Weiss Ratings raised its rating to “buy (b).” MarketBeat’s analyst consensus remains “Moderate Buy.”
• Escalade reported quarterly EPS of $0.68, well above the $0.16 consensus estimate, while revenue of $57.70 million was broadly in line with expectations.
• Shares opened at $18.65, down 1.8%, and insiders have sold 41,227 shares worth approximately $872,743 over the past 90 days; institutional investors own 65.22% of the company.

Escalade (NASDAQ:ESCA - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday, Zacks reports.

Separately, Weiss Ratings upgraded shares of Escalade from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, September 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".

Escalade Trading Down 1.8%

NASDAQ:ESCA opened at $18.65 on Monday. Escalade has a 1-year low of $11.41 and a 1-year high of $23.07. The firm has a fifty day simple moving average of $20.20 and a 200 day simple moving average of $19.09. The stock has a market capitalization of $256.81 million, a PE ratio of 11.17 and a beta of 0.52.

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

Insider Activity

In related news, Director Edward E. Williams sold 2,373 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $20.99, for a total transaction of $49,809.27. Following the transaction, the director directly owned 129,452 shares of the company's stock, valued at approximately $2,717,197.48. This trade represents a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen Wawrin sold 3,177 shares of Escalade stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $21.40, for a total transaction of $67,987.80. Following the completion of the sale, the chief financial officer owned 45,000 shares of the company's stock, valued at $963,000. This trade represents a 6.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 41,227 shares of company stock valued at $872,743. 33.14% of the stock is owned by company insiders.

Institutional Trading of Escalade

A number of institutional investors and hedge funds have recently made changes to their positions in ESCA. De Lisle Partners LLP acquired a new stake in shares of Escalade during the 2nd quarter worth approximately $1,204,000. BlackRock Inc. acquired a new position in Escalade during the second quarter valued at approximately $9,851,000. Deutsche Bank AG bought a new stake in Escalade during the second quarter worth $156,000. Bank of New York Mellon Corp bought a new stake in Escalade during the second quarter worth $1,720,000. Finally, Northstar Group Inc. acquired a new stake in shares of Escalade in the 2nd quarter valued at $1,136,000. Institutional investors 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.

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