Johnson Outdoors (NASDAQ:JOUT) Shares Gap Down - Should You Sell?

Key Points

• Shares gapped down — JOUT opened at $50.72 after closing at $53.50 and was last trading around $50.89 on a volume of 18,597 shares.
• Analyst sentiment has weakened — Zacks cut the stock to a Hold and MarketBeat shows an average rating of "Reduce", reflecting recent downgrades.
• Mixed quarterly results — Q results beat expectations (EPS $0.89 vs. $0.87; revenue $194.5M vs. $185.1M) but the company still reported a negative net margin (-3.56%) and a negative trailing P/E.

Shares of Johnson Outdoors Inc. (NASDAQ:JOUT - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $53.50, but opened at $50.72. Johnson Outdoors shares last traded at $50.8850, with a volume of 18,597 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Zacks Research lowered Johnson Outdoors from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 10th. Wall Street Zen downgraded shares of Johnson Outdoors from a "strong-buy" rating to a "buy" rating in a research note on Sunday, February 15th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce".

Johnson Outdoors Stock Performance

The firm has a fifty day simple moving average of $48.69 and a 200-day simple moving average of $45.42. The company has a market capitalization of $535.84 million, a PE ratio of -23.54, a P/E/G ratio of 3.78 and a beta of 0.89.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.02. Johnson Outdoors had a negative net margin of 3.56% and a positive return on equity of 0.83%. The firm had revenue of $194.48 million for the quarter, compared to analysts' expectations of $185.09 million. As a group, research analysts anticipate that Johnson Outdoors Inc. will post 1 EPS for the current fiscal year.

Johnson Outdoors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th were paid a dividend of $0.33 per share. The ex-dividend date was Thursday, April 16th. This represents a $1.32 annualized dividend and a yield of 2.6%. Johnson Outdoors's dividend payout ratio is presently -60.27%.

Insider Buying and Selling

In other news, Director Richard Casey Sheahan sold 7,580 shares of Johnson Outdoors stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $49.77, for a total value of $377,256.60. Following the completion of the transaction, the director owned 5,739 shares in the company, valued at approximately $285,630.03. This trade represents a 56.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Johnson Outdoors

Large investors have recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP bought a new stake in Johnson Outdoors during the third quarter valued at $7,676,000. Allspring Global Investments Holdings LLC lifted its position in shares of Johnson Outdoors by 158.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 100,913 shares of the company's stock worth $4,142,000 after buying an additional 61,934 shares during the last quarter. Aristides Capital LLC boosted its holdings in shares of Johnson Outdoors by 188.4% in the 3rd quarter. Aristides Capital LLC now owns 90,440 shares of the company's stock valued at $3,653,000 after buying an additional 59,079 shares during the period. Corient Private Wealth LLC bought a new stake in shares of Johnson Outdoors during the 2nd quarter valued at about $1,528,000. Finally, Two Sigma Investments LP grew its position in shares of Johnson Outdoors by 429.5% during the 3rd quarter. Two Sigma Investments LP now owns 56,159 shares of the company's stock valued at $2,268,000 after buying an additional 45,552 shares during the last quarter. 64.05% of the stock is currently owned by institutional investors.

Johnson Outdoors Company Profile

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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