Zacks Research Downgrades Johnson Outdoors (NASDAQ:JOUT) to Strong Sell

Key Points

• Zacks Research downgraded Johnson Outdoors to “Strong Sell” from “Hold,” while Weiss Ratings raised its view to “Hold.” The overall analyst consensus remains “Reduce,” with one Hold and one Sell rating.
• Johnson Outdoors reported quarterly EPS of $1.42, beating estimates of $0.68, and revenue of $189.73 million, above the $186.19 million forecast. Despite the earnings beat, the company posted a negative net margin of 1.21%.
• The stock opened at $44.91, with a market capitalization of about $470.7 million and a 52-week range of $35.65 to $53.54. A company director sold 6,250 shares for approximately $299,125, while insiders own 28.21% and institutional investors own 64.05% of the stock.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Thursday, Zacks reports.

Separately, Weiss Ratings raised shares of Johnson Outdoors from a "sell (d-)" rating to a "hold (c-)" rating in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Reduce".

Johnson Outdoors Trading Up 0.9%

NASDAQ JOUT opened at $44.91 on Thursday. The stock has a market capitalization of $470.66 million, a price-to-earnings ratio of -52.83, a PEG ratio of 2.25 and a beta of 0.80. Johnson Outdoors has a twelve month low of $35.65 and a twelve month high of $53.54. The stock has a 50-day moving average of $46.01 and a 200 day moving average of $46.40.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $0.68 by $0.74. Johnson Outdoors had a positive return on equity of 4.26% and a negative net margin of 1.21%.The company had revenue of $189.73 million for the quarter, compared to analyst estimates of $186.19 million. Equities analysts predict that Johnson Outdoors will post 1.3 EPS for the current fiscal year.

Insider Transactions at Johnson Outdoors

In other news, Director Edward Stevens sold 6,250 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $47.86, for a total value of $299,125.00. Following the completion of the sale, the director directly owned 10,640 shares in the company, valued at $509,230.40. This represents a 37.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 28.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Johnson Outdoors

Institutional investors and hedge funds have recently bought and sold shares of the business. Gamco Investors INC. ET AL boosted its holdings in shares of Johnson Outdoors by 2.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 427,700 shares of the company's stock worth $19,892,000 after purchasing an additional 9,600 shares during the last quarter. Aristides Capital LLC grew its position in shares of Johnson Outdoors by 14.9% in the first quarter. Aristides Capital LLC now owns 129,832 shares of the company's stock valued at $6,038,000 after purchasing an additional 16,828 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Johnson Outdoors by 19.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 119,451 shares of the company's stock valued at $5,606,000 after purchasing an additional 19,769 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Johnson Outdoors by 16.3% during the first quarter. Bank of New York Mellon Corp now owns 70,571 shares of the company's stock worth $3,282,000 after buying an additional 9,894 shares in the last quarter. Finally, North Star Investment Management Corp. lifted its position in Johnson Outdoors by 51.4% during the first quarter. North Star Investment Management Corp. now owns 52,700 shares of the company's stock worth $2,451,000 after buying an additional 17,899 shares in the last quarter. 64.05% of the stock is currently owned by institutional investors and hedge funds.

About Johnson Outdoors

Johnson Outdoors Inc is an outdoor recreation company that designs, manufactures and markets equipment for fishing, watercraft, diving, camping and other outdoor activities. Its products are sold through retailers, dealers and distributors in the United States and international markets.

The company's fishing portfolio includes Minn Kota electric trolling motors, Humminbird marine electronics and Cannon downriggers. Its watercraft brands include Old Town kayaks and canoes, Ocean Kayak products and Carlisle paddles, while its camping business includes Eureka! tents and outdoor equipment and Jetboil cooking systems.

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