Escalade (NASDAQ:ESCA) Shares Break Below 200 Day Moving Average - Here's What Happened

Key Points

• Escalade shares fell below their 200-day moving average of $19.15, reaching $18.47 before last trading at $18.85. The company has a $259.56 million market capitalization and a P/E ratio of 11.29.
• Analyst sentiment has weakened, with ratings cut by Weiss Ratings and Zacks Research; coverage now includes one Buy and two Hold ratings, for an overall Hold consensus.
• Escalade reported quarterly EPS of $0.68, well above the $0.16 estimate, and maintains a quarterly dividend of $0.1525, equivalent to a 3.2% yield. Insiders have sold 41,227 shares worth $872,743 over the past 90 days, while institutional investors own 65.22% of the stock.

Escalade, Incorporated (NASDAQ:ESCA - Get Free Report) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $19.15 and traded as low as $18.47. Escalade shares last traded at $18.85, with a volume of 35,814 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Weiss Ratings cut shares of Escalade from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Zacks Research lowered shares of Escalade from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Finally, LADENBURG THALM/SH SH began coverage on shares of Escalade in a research report on Tuesday, October 13th. They set a "neutral" rating on the stock. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold".

Escalade Price Performance

The firm has a market cap of $259.56 million, a P/E ratio of 11.29 and a beta of 0.52. The firm's 50 day moving average is $19.66 and its 200 day moving average is $19.15.

Escalade (NASDAQ:ESCA - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.52. Escalade had a net margin of 9.46% and a return on equity of 13.11%. The business had revenue of $57.70 million during the quarter, compared to the consensus estimate of $57.60 million. As a group, analysts expect that Escalade, Incorporated will post 1.59 EPS for the current year.

Escalade Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 13th. Investors of record on Tuesday, October 6th were paid a $0.1525 dividend. The ex-dividend date was Tuesday, October 6th. This represents a $0.61 annualized dividend and a dividend yield of 3.2%. Escalade's dividend payout ratio is presently 36.53%.

Insider Buying and Selling

In related news, Director Richard Baalmann, Jr. sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $22.27, for a total transaction of $111,350.00. Following the completion of the transaction, the director owned 97,794 shares of the company's stock, valued at $2,177,872.38. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen Wawrin sold 3,177 shares of Escalade stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $21.40, for a total value of $67,987.80. Following the transaction, the chief financial officer owned 45,000 shares of the company's stock, valued at $963,000. The trade was a 6.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 41,227 shares of company stock worth $872,743 in the last 90 days. Insiders own 33.14% of the company's stock.

Institutional Investors Weigh In On Escalade

A number of institutional investors have recently modified their holdings of ESCA. BlackRock Inc. bought a new position in Escalade in the 2nd quarter worth about $9,851,000. Bank of New York Mellon Corp bought a new stake in Escalade during the 2nd quarter valued at about $1,720,000. De Lisle Partners LLP bought a new stake in Escalade during the 2nd quarter valued at about $1,204,000. Northstar Group Inc. bought a new stake in Escalade during the 2nd quarter valued at about $1,136,000. Finally, Hillsdale Investment Management Inc. purchased a new position in Escalade in the first quarter worth about $311,000. 65.22% of the stock is owned by hedge funds and other institutional investors.

About Escalade

Escalade, Incorporated is a sporting goods company headquartered in Evansville, Indiana. The company designs, manufactures and distributes products for recreational and competitive sports, serving consumers, schools, commercial venues and other organizations.

Its product portfolio includes table tennis equipment, pickleball paddles and accessories, dartboards and darting equipment, basketball goals, game tables, indoor and outdoor recreation products, and related sporting goods. Escalade markets products under several brands, including STIGA for table tennis and ONIX for pickleball, along with additional brands serving the darting, basketball and game-room categories.

The company sells its products through sporting goods retailers, specialty dealers, mass merchants, e-commerce channels and institutional customers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.