Johnson Outdoors (NASDAQ:JOUT) Upgraded to Buy at Wall Street Zen

Key Points

• Johnson Outdoors' stock rating was upgraded from "hold" to "buy" by analysts at Wall Street Zen.
• The company reported earnings of $0.75 per share for the previous quarter, significantly beating analysts' consensus estimate by $0.51.
• Institutional investors now hold 64.05% of Johnson Outdoors' stock, indicating increasing investor interest in the company.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Johnson Outdoors Price Performance

Johnson Outdoors stock traded up $1.87 during trading hours on Friday, hitting $39.28. The company had a trading volume of 56,343 shares, compared to its average volume of 53,315. The firm has a market capitalization of $407.33 million, a P/E ratio of -10.15 and a beta of 0.81. The firm's fifty day moving average is $31.75 and its 200-day moving average is $28.13. Johnson Outdoors has a fifty-two week low of $21.33 and a fifty-two week high of $39.58.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.24 by $0.51. Johnson Outdoors had a negative net margin of 7.02% and a negative return on equity of 8.80%. The company had revenue of $180.66 million for the quarter, compared to analyst estimates of $172.98 million. Analysts anticipate that Johnson Outdoors will post -0.58 earnings per share for the current year.

Institutional Trading of Johnson Outdoors

Several large investors have recently modified their holdings of JOUT. American Century Companies Inc. boosted its holdings in shares of Johnson Outdoors by 10.7% during the 4th quarter. American Century Companies Inc. now owns 8,776 shares of the company's stock worth $290,000 after buying an additional 845 shares during the period. Geode Capital Management LLC boosted its holdings in Johnson Outdoors by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 124,539 shares of the company's stock valued at $4,111,000 after purchasing an additional 783 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Johnson Outdoors by 26.4% during the 4th quarter. Wells Fargo & Company MN now owns 2,788 shares of the company's stock worth $92,000 after acquiring an additional 583 shares during the period. Barclays PLC lifted its holdings in shares of Johnson Outdoors by 8.6% during the 4th quarter. Barclays PLC now owns 7,141 shares of the company's stock worth $236,000 after acquiring an additional 566 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of Johnson Outdoors during the 4th quarter worth about $250,000. 64.05% of the stock is owned by institutional investors.

Johnson Outdoors Company Profile

Johnson Outdoors Inc designs, manufactures, and markets seasonal and outdoor recreational products for fishing worldwide. It operates through four segments: Fishing, Camping, Watercraft Recreation, and Diving. The Fishing segment offers electric motors for trolling, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.