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 Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Johnson Outdoors Trading Up 0.8%

Shares of JOUT traded up $0.32 during trading hours on Friday, reaching $39.67. The stock had a trading volume of 9,923 shares, compared to its average volume of 53,241. Johnson Outdoors has a 12 month low of $21.33 and a 12 month high of $40.36. The firm has a 50-day simple moving average of $31.99 and a 200 day simple moving average of $28.21. The company has a market capitalization of $411.37 million, a price-to-earnings ratio of -10.23 and a beta of 0.81.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.51. Johnson Outdoors had a negative return on equity of 8.80% and a negative net margin of 7.02%. The business had revenue of $180.66 million for the quarter, compared to analysts' expectations of $172.98 million. On average, equities analysts forecast that Johnson Outdoors will post -0.58 EPS for the current year.

Hedge Funds Weigh In On Johnson Outdoors

Several large investors have recently bought and sold shares of JOUT. PNC Financial Services Group Inc. lifted its stake in Johnson Outdoors by 1,175.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 893 shares of the company's stock valued at $27,000 after acquiring an additional 823 shares in the last quarter. CWM LLC increased its position in shares of Johnson Outdoors by 49.0% during the 1st quarter. CWM LLC now owns 1,575 shares of the company's stock valued at $39,000 after purchasing an additional 518 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Johnson Outdoors by 57.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,248 shares of the company's stock valued at $74,000 after purchasing an additional 820 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Johnson Outdoors by 5,310.7% during the 1st quarter. GAMMA Investing LLC now owns 3,030 shares of the company's stock valued at $75,000 after purchasing an additional 2,974 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position 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 valued at $92,000 after purchasing an additional 583 shares during the last quarter. 64.05% of the stock is currently owned by institutional investors.

About Johnson Outdoors

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.