Escalade (NASDAQ:ESCA) Share Price Crosses Below 200 Day Moving Average - Time to Sell?

Key Points

• Escalade's share price has fallen below its 200-day moving average of $14.43, trading as low as $12.19 recently.
• Analysts downgraded Escalade from a "buy" to a "hold" rating following earnings reports that missed expectations.
• The company announced a quarterly dividend of $0.15 per share, with a total annualized yield of 4.7%.

Escalade, Incorporated (NASDAQ:ESCA - Get Free Report)'s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.43 and traded as low as $12.19. Escalade shares last traded at $12.71, with a volume of 48,490 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Escalade from a "buy" rating to a "hold" rating in a report on Sunday, August 10th.

Escalade Price Performance

The company has a fifty day moving average of $13.22 and a 200 day moving average of $14.36. The firm has a market capitalization of $184.92 million, a P/E ratio of 14.73 and a beta of 0.74. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.15 and a quick ratio of 1.79.

Escalade (NASDAQ:ESCA - Get Free Report) last announced 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 net margin of 5.30% and a return on equity of 6.86%. The company had revenue of $54.33 million during the quarter, compared to the consensus estimate of $60.03 million. Sell-side analysts predict that Escalade, Incorporated will post 0.93 earnings per share for the current year.

Escalade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 13th. Shareholders of record on Monday, October 6th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, October 6th. This represents a $0.60 annualized dividend and a yield of 4.5%. Escalade's payout ratio is 65.93%.

Hedge Funds Weigh In On Escalade

Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in Escalade by 439.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,622 shares of the company's stock valued at $51,000 after buying an additional 2,950 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Escalade in the 2nd quarter valued at $29,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Escalade in the 2nd quarter valued at $32,000. Geode Capital Management LLC raised its position in Escalade by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 221,456 shares of the company's stock valued at $3,096,000 after buying an additional 4,455 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Escalade in the 1st quarter valued at $224,000. 65.22% of the stock is owned by institutional investors and hedge funds.

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.