Johnson Outdoors (NASDAQ:JOUT) Sets New 12-Month High - Should You Buy?

Key Points

• Johnson Outdoors hit a new 52-week high of $53.54 (last $53.16) with a 50‑day/200‑day moving average of $48.32/$44.92 and a market cap of about $552 million.
• Analysts have trimmed ratings recently (Wall Street Zen and Zacks lowered coverage, Weiss reissued a sell), leaving the stock with an average consensus rating of "Reduce".
• The company beat the quarter's revenue and EPS estimates (EPS of -$0.33 vs. -$0.45 and revenue $140.9M vs. $123.9M) but remains unprofitable (negative net margin and negative P/E), declared a $0.33 quarterly dividend (≈2.5% yield), and saw a director sell 7,580 shares.

Johnson Outdoors Inc. (NASDAQ:JOUT - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The stock traded as high as $53.54 and last traded at $53.1550, with a volume of 60747 shares trading hands. The stock had previously closed at $52.60.

Analysts Set New Price Targets

Several brokerages recently issued reports on JOUT. Wall Street Zen lowered shares of Johnson Outdoors from a "strong-buy" rating to a "buy" rating in a research note on Sunday, February 15th. Zacks Research downgraded shares of Johnson Outdoors from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 10th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Johnson Outdoors in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce".

Johnson Outdoors Price Performance

The company has a fifty day moving average price of $48.32 and a 200 day moving average price of $44.92. The stock has a market cap of $552.41 million, a P/E ratio of -24.23, a P/E/G ratio of 3.20 and a beta of 0.82.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) last issued its earnings results on Friday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.45) by $0.12. Johnson Outdoors had a positive return on equity of 0.83% and a negative net margin of 3.56%.The company had revenue of $140.94 million for the quarter, compared to analysts' expectations of $123.95 million. As a group, sell-side analysts expect that Johnson Outdoors Inc. will post 1.15 earnings per share for the current fiscal year.

Johnson Outdoors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Thursday, April 16th. Johnson Outdoors's dividend payout ratio (DPR) is -60.27%.

Insider Activity

In other news, Director Richard Casey Sheahan sold 7,580 shares of the business's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $49.77, for a total transaction of $377,256.60. Following the completion of the sale, the director directly owned 5,739 shares of the company's stock, valued at $285,630.03. The trade was a 56.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 28.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Johnson Outdoors

A number of hedge funds have recently added to or reduced their stakes in JOUT. CANADA LIFE ASSURANCE Co increased its holdings in Johnson Outdoors by 57.8% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,018 shares of the company's stock worth $43,000 after purchasing an additional 373 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Johnson Outdoors by 260.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,122 shares of the company's stock valued at $48,000 after purchasing an additional 811 shares in the last quarter. Highlander Partners L.P. purchased a new position in shares of Johnson Outdoors during the fourth quarter valued at approximately $50,000. Kemnay Advisory Services Inc. purchased a new position in shares of Johnson Outdoors during the fourth quarter valued at approximately $50,000. Finally, Raymond James Financial Inc. bought a new stake in Johnson Outdoors during the second quarter worth $52,000. Institutional investors and hedge funds own 64.05% of the company's stock.

About Johnson Outdoors

Johnson Outdoors Inc is a diversified outdoor recreation company that develops, manufactures and markets a broad range of gear and equipment for marine and land-based activities. The company operates through two primary segments: the Marine Electronics & Boat Group and the Outdoor Products Group. Its marine offerings include electric motors and anchors under the Minn Kota® brand, fish-finding and sonar systems under the Humminbird® brand, and a lineup of recreational watercraft under the Old Town® and Ocean Kayak® names.

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