Escalade (NASDAQ:ESCA) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded Escalade (NASDAQ:ESCA) from a "strong-buy" to a "hold", and the stock's consensus analyst rating is currently "Hold."
• Escalade beat recent estimates, reporting $0.32 EPS versus $0.18 expected and $55.79M in revenue versus $53.8M, while the stock trades around $19.88 with a market cap of ~$274.5M and a P/E of 17.75 (52‑week range: $11.41–$21.32).
• Institutional ownership is high at 65.22%, with several funds (Goldman Sachs, Geode, JPMorgan, etc.) modestly increasing their stakes in recent quarters.

Escalade (NASDAQ:ESCA - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

ESCA has been the topic of several other research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Escalade in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of Escalade from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Escalade currently has a consensus rating of "Hold".

Escalade Stock Performance

Shares of ESCA stock opened at $19.88 on Monday. The stock's 50-day moving average is $17.17 and its two-hundred day moving average is $14.59. Escalade has a 1 year low of $11.41 and a 1 year high of $21.32. The firm has a market cap of $274.54 million, a price-to-earnings ratio of 17.75 and a beta of 0.59.

Escalade (NASDAQ:ESCA - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.14. The business had revenue of $55.79 million during the quarter, compared to the consensus estimate of $53.80 million. Escalade had a return on equity of 8.97% and a net margin of 6.43%. As a group, research analysts predict that Escalade will post 1.05 EPS for the current year.

Institutional Investors Weigh In On Escalade

Several large investors have recently modified their holdings of ESCA. Goldman Sachs Group Inc. grew its position in Escalade by 7.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 11,845 shares of the company's stock valued at $160,000 after buying an additional 779 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Escalade by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 221,996 shares of the company's stock valued at $2,995,000 after acquiring an additional 878 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Escalade by 2.5% during the third quarter. Bridgeway Capital Management LLC now owns 41,808 shares of the company's stock worth $526,000 after acquiring an additional 1,000 shares during the period. Certior Financial Group LLC raised its holdings in Escalade by 10.2% during the fourth quarter. Certior Financial Group LLC now owns 12,351 shares of the company's stock worth $167,000 after purchasing an additional 1,143 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Escalade by 13.1% in the third quarter. JPMorgan Chase & Co. now owns 13,853 shares of the company's stock valued at $174,000 after purchasing an additional 1,600 shares during the period. Hedge funds and other institutional investors own 65.22% of the company's stock.

Escalade Company Profile

Escalade, Inc is a U.S.-based manufacturer and distributor of recreational equipment and specialty products for both consumer and commercial markets. Headquartered in Evansville, Indiana, the company operates through two principal business segments: Sporting Goods and Commercial Products. The Sporting Goods segment encompasses a diverse range of products such as hockey and lacrosse goal assemblies, fitness accessories, archery and hunting gear, and table tennis equipment. The Commercial Products segment focuses on seating solutions for restaurants, hospitality venues and other public spaces under the Top Seat brand, as well as storage, display products and industrial carts.

Within Sporting Goods, Escalade markets its products under proprietary brands including Bear® Archery, Gene St.

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