Escalade (NASDAQ:ESCA) Upgraded to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Escalade from “hold” to “strong-buy.” Other analysts’ views are mixed, and MarketBeat reports an overall consensus rating of “Buy.”
• Escalade reported quarterly EPS of $0.48, beating the $0.34 consensus estimate, while revenue of $65.61 million fell short of analysts’ $68.48 million forecast.
• Shares traded at $21.03 on Thursday, near their 12-month high of $23.07; the stock has a market capitalization of approximately $289 million.

Escalade (NASDAQ:ESCA - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Thursday, Zacks reports.

Several other research firms have also commented on ESCA. Weiss Ratings upgraded shares of Escalade from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, November 9th. Wall Street Zen downgraded shares of Escalade from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 31st. Finally, Ladenburg Thalmann & Co. Inc. initiated coverage on shares of Escalade in a research report on Tuesday, October 13th. They issued a "neutral" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Escalade presently has a consensus rating of "Buy".

Escalade Price Performance

NASDAQ:ESCA traded up $0.04 during midday trading on Thursday, reaching $21.03. 22,386 shares of the company traded hands, compared to its average volume of 36,285. The firm has a market capitalization of $289.31 million, a price-to-earnings ratio of 12.02 and a beta of 0.54. The company has a fifty day moving average price of $19.51 and a 200 day moving average price of $18.43. Escalade has a twelve month low of $12.25 and a twelve month high of $23.07.

Escalade (NASDAQ:ESCA - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.14. The firm had revenue of $65.61 million for the quarter, compared to analyst estimates of $68.48 million. Escalade had a return on equity of 13.48% and a net margin of 10.03%. On average, equities research analysts forecast that Escalade will post 1.67 earnings per share for the current fiscal year.

Insider Transactions at Escalade

In other Escalade news, Director Richard Baalmann, Jr. sold 2,000 shares of the firm's stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $21.00, for a total transaction of $42,000.00. Following the transaction, the director owned 95,794 shares of the company's stock, valued at approximately $2,011,674. This trade represents a 2.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 33.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Escalade

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in shares of Escalade during the 2nd quarter valued at $1,720,000. De Lisle Partners LLP bought a new stake in shares of Escalade in the 2nd quarter worth $1,204,000. BlackRock Inc. acquired a new stake in shares of Escalade in the second quarter valued at $9,851,000. Northstar Group Inc. acquired a new stake in shares of Escalade in the second quarter valued at $1,136,000. Finally, Bank of America Corp DE boosted its stake in Escalade by 13.9% during the first quarter. Bank of America Corp DE now owns 10,442 shares of the company's stock valued at $179,000 after buying an additional 1,271 shares in the last quarter. Institutional investors own 65.22% of the company's stock.

About Escalade

Escalade, Inc. designs, manufactures and distributes sporting goods and recreational products. Its offerings include basketball systems, archery equipment, table tennis products, darts and billiards equipment. The company sells products under brands including Goalrilla, Goaliath, Bear Archery, Trophy Ridge, STIGA and American Heritage Billiards. Its products serve both recreational and competitive sports markets. Based in Evansville, Indiana, Escalade serves customers in the United States and international markets through retail, e-commerce and other distribution channels.

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.