Escalade (NASDAQ:ESCA) Cut to "Hold" at 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 research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.

Escalade Trading Down 3.0%

Shares of ESCA opened at $11.80 on Friday. The firm has a market cap of $162.84 million, a price-to-earnings ratio of 12.97 and a beta of 0.74. Escalade has a 52-week low of $11.75 and a 52-week high of $16.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.67 and a current ratio of 4.15. The business's fifty day moving average is $13.59 and its 200-day moving average is $14.55.

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

Insiders Place Their Bets

In related news, CFO Stephen Wawrin sold 2,177 shares of the business's stock in a transaction 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 sale, the chief financial officer owned 43,000 shares in the company, valued at $651,880. The trade was a 4.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 28.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Escalade

Hedge funds and other institutional investors have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey acquired a new position in Escalade during the 2nd quarter worth about $32,000. Tower Research Capital LLC TRC lifted its holdings in Escalade by 250.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,288 shares of the company's stock worth $33,000 after buying an additional 1,635 shares during the period. GAMMA Investing LLC lifted its holdings in Escalade by 27,223.8% during the 1st quarter. GAMMA Investing LLC now owns 5,738 shares of the company's stock worth $88,000 after buying an additional 5,717 shares during the period. Wells Fargo & Company MN lifted its holdings in Escalade by 22.9% during the 4th 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 during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Escalade by 6.9% in the 4th 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. Institutional investors own 65.22% of the company's stock.

Escalade Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.