Escalade (NASDAQ:ESCA) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Escalade has been downgraded from a "buy" rating to a "hold" rating by analysts at Wall Street Zen.
• The company reported a loss in its quarterly earnings, with earnings per share of $0.13, missing estimates of $0.23.
• Institutional investors now own 65.22% of Escalade’s stock, with notable recent transactions including significant increases in holdings by several firms.

Escalade (NASDAQ:ESCA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

Escalade Stock Performance

Shares of NASDAQ:ESCA traded down $0.63 during trading on Friday, hitting $12.59. The stock had a trading volume of 2,469 shares, compared to its average volume of 17,854. Escalade has a 12-month low of $11.74 and a 12-month high of $16.99. The stock has a market capitalization of $173.67 million, a price-to-earnings ratio of 13.83 and a beta of 0.74. The company has a quick ratio of 1.79, a current ratio of 4.15 and a debt-to-equity ratio of 0.09. The stock has a 50-day simple moving average of $13.48 and a two-hundred day simple moving average of $14.50.

Escalade (NASDAQ:ESCA - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). Escalade had a return on equity of 6.86% and a net margin of 5.30%. The company had revenue of $54.33 million for the quarter, compared to analyst estimates of $60.03 million. On average, equities research analysts expect that Escalade will post 0.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Stephen Wawrin sold 2,177 shares of Escalade stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $15.16, for a total transaction of $33,003.32. Following the transaction, the chief financial officer owned 43,000 shares in the company, valued at approximately $651,880. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 28.75% of the company's stock.

Institutional Investors Weigh In On Escalade

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in shares of Escalade by 98.1% in the 4th quarter. JPMorgan Chase & Co. now owns 37,474 shares of the company's stock valued at $535,000 after purchasing an additional 18,560 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in Escalade during the fourth quarter worth $217,000. Wells Fargo & Company MN increased its position in Escalade by 22.9% during the fourth quarter. Wells Fargo & Company MN now owns 6,870 shares of the company's stock worth $98,000 after buying an additional 1,278 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Escalade by 6.9% in the fourth quarter. Renaissance Technologies LLC now owns 12,430 shares of the company's stock valued at $178,000 after purchasing an additional 800 shares during the period. Finally, Barclays PLC boosted its holdings in Escalade by 14.1% in the fourth quarter. Barclays PLC now owns 15,041 shares of the company's stock valued at $214,000 after acquiring an additional 1,856 shares during the last quarter. Hedge funds and other institutional investors own 65.22% of the company's stock.

About Escalade

Escalade, Incorporated, together with its subsidiaries, manufactures, distributes, imports, and sells sporting goods in North America, Europe, and internationally. The company provides various sporting goods brands in basketball goals, archery, indoor and outdoor game recreation, and fitness products.