Johnson Outdoors (NASDAQ:JOUT) Shares Pass Above 200-Day Moving Average - Should You Sell?

Key Points

• Johnson Outdoors Inc. shares have surpassed their 200-day moving average, trading as high as $41.97 and closing at $40.87 with a volume of 69,927 shares.
• Analysts recently upgraded the stock from a "hold" to a "buy" rating, reflecting improved market sentiment towards the company's performance.
• The company reported earnings of $0.75 per share, significantly beating analysts' expectations of $0.24, with revenues of $180.66 million for the quarter.

Johnson Outdoors Inc. (NASDAQ:JOUT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $30.39 and traded as high as $41.97. Johnson Outdoors shares last traded at $40.87, with a volume of 69,927 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Johnson Outdoors from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th.

Johnson Outdoors Stock Up 1.9%

The stock has a 50-day moving average price of $37.97 and a 200 day moving average price of $30.54. The firm has a market capitalization of $426.83 million, a PE ratio of -10.64 and a beta of 0.85.

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

Johnson Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.32 annualized dividend and a dividend yield of 3.2%. Johnson Outdoors's dividend payout ratio (DPR) is presently -34.11%.

Institutional Trading of Johnson Outdoors

Institutional investors have recently bought and sold shares of the business. Northern Trust Corp increased its position in shares of Johnson Outdoors by 5.5% during the fourth quarter. Northern Trust Corp now owns 53,706 shares of the company's stock worth $1,772,000 after buying an additional 2,798 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Johnson Outdoors by 31.1% in the 4th quarter. Ameriprise Financial Inc. now owns 43,397 shares of the company's stock worth $1,432,000 after purchasing an additional 10,300 shares during the period. Deutsche Bank AG grew its holdings in shares of Johnson Outdoors by 283.9% in the fourth quarter. Deutsche Bank AG now owns 9,604 shares of the company's stock valued at $317,000 after purchasing an additional 7,102 shares in the last quarter. Millennium Management LLC lifted its position in shares of Johnson Outdoors by 30.0% during the fourth quarter. Millennium Management LLC now owns 67,520 shares of the company's stock worth $2,228,000 after purchasing an additional 15,575 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Johnson Outdoors by 164.9% during the fourth quarter. Two Sigma Investments LP now owns 21,006 shares of the company's stock valued at $693,000 after acquiring an additional 13,076 shares in the last quarter. Institutional investors own 64.05% of the company's stock.

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.