Wall Street Zen Upgrades Johnson Outdoors (NASDAQ:JOUT) to "Buy"

Key Points

• Wall Street Zen upgraded Johnson Outdoors to “Buy” from “Hold,” although the broader analyst consensus remains “Reduce,” with one Hold and one Sell rating.
• Johnson Outdoors reported quarterly earnings of $1.42 per share, beating the $0.68 consensus estimate, while revenue of $189.73 million also exceeded expectations.
• The stock opened at $45.67, giving the company a market capitalization of approximately $478.6 million; insiders own 28.21% of shares, while institutional investors control 64.05%.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the company. Zacks Research cut Johnson Outdoors from a "hold" rating to a "strong sell" rating in a research report on Thursday, October 1st. Weiss Ratings raised Johnson Outdoors from a "sell (d-)" rating to a "hold (c-)" rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce".

Johnson Outdoors Stock Performance

Shares of Johnson Outdoors stock opened at $45.67 on Friday. Johnson Outdoors has a one year low of $35.65 and a one year high of $53.54. The company has a market cap of $478.62 million, a P/E ratio of 27.68, a PEG ratio of 2.34 and a beta of 0.80. The firm has a fifty day moving average of $44.61 and a two-hundred day moving average of $46.38.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) last issued its earnings results on Friday, August 7th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.74. Johnson Outdoors had a negative net margin of 1.21% and a positive return on equity of 4.26%. The business had revenue of $189.73 million for the quarter, compared to the consensus estimate of $186.19 million. As a group, equities analysts predict that Johnson Outdoors will post 1.30 earnings per share for the current year.

Insider Buying and Selling

In other Johnson Outdoors news, Director Edward Stevens sold 6,250 shares of the business's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $47.86, for a total transaction of $299,125.00. Following the sale, the director directly owned 10,640 shares in the company, valued at approximately $509,230.40. The trade was a 37.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 28.21% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP lifted its holdings in shares of Johnson Outdoors by 130.2% in the second quarter. Engineers Gate Manager LP now owns 16,141 shares of the company's stock valued at $743,000 after purchasing an additional 9,130 shares in the last quarter. Round Rock Advisors LLC increased its stake in shares of Johnson Outdoors by 78.9% during the 2nd quarter. Round Rock Advisors LLC now owns 21,438 shares of the company's stock worth $987,000 after purchasing an additional 9,453 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Johnson Outdoors during the 2nd quarter worth approximately $358,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Johnson Outdoors during the 2nd quarter worth approximately $1,077,000. Finally, Marquette Asset Management LLC acquired a new position in shares of Johnson Outdoors during the 2nd quarter worth approximately $412,000. Institutional investors and hedge funds own 64.05% of the company's stock.

Johnson Outdoors Company Profile

Johnson Outdoors Inc is an outdoor recreation company that designs, manufactures and markets equipment for fishing, watercraft, diving and camping. Its products are sold through specialty retailers, sporting-goods stores, online channels and distributors in North America and international markets.

The company's marine businesses include Minn Kota electric trolling motors, Humminbird fish-finding and marine electronics, and Cannon downriggers. Its watercraft portfolio includes Old Town canoes, kayaks and paddlecraft, along with related paddles and accessories marketed under brands such as Carlisle.

Johnson Outdoors also offers diving equipment through its SCUBAPRO brand and camping and outdoor gear through brands including Eureka! and Jetboil.

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