Escalade (NASDAQ:ESCA) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• Escalade shares moved above their 200-day moving average, reaching $20.61 before closing at $20.16, compared with a 200-day average of $18.26.
• Analyst sentiment improved, with Zacks Research upgrading the stock to “strong buy” and Weiss Ratings raising it to “buy”; the consensus rating is “Strong Buy.”
• Escalade reported quarterly EPS of $0.68, well above the $0.16 estimate, and declared a quarterly dividend of $0.1525, equivalent to a 3.0% annual yield. However, insiders sold 41,227 shares worth about $872,743 over the past 90 days.

Escalade, Incorporated (NASDAQ:ESCA - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.26 and traded as high as $20.61. Escalade shares last traded at $20.16, with a volume of 31,108 shares trading hands.

Analyst Ratings Changes

ESCA has been the topic of a number of research reports. Zacks Research raised shares of Escalade from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Escalade from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Strong Buy".

Escalade Stock Down 0.1%

The stock has a market capitalization of $277.60 million, a price-to-earnings ratio of 12.07 and a beta of 0.58. The stock has a 50 day moving average price of $19.79 and a 200 day moving average price of $18.26.

Escalade (NASDAQ:ESCA - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.52. Escalade had a return on equity of 13.11% and a net margin of 9.46%.The company had revenue of $57.70 million during the quarter, compared to the consensus estimate of $57.60 million. Sell-side analysts forecast that Escalade, Incorporated will post 1.56 earnings per share for the current fiscal year.

Escalade Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Tuesday, October 6th will be given a $0.1525 dividend. This represents a $0.61 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, October 6th. Escalade's dividend payout ratio is 36.53%.

Insider Activity

In other news, CFO Stephen Wawrin sold 3,177 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $21.40, for a total transaction of $67,987.80. Following the completion of the transaction, the chief financial officer owned 45,000 shares of the company's stock, valued at approximately $963,000. This trade represents a 6.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward E. Williams sold 30,315 shares of Escalade stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $20.98, for a total transaction of $636,008.70. Following the transaction, the director owned 132,187 shares in the company, valued at approximately $2,773,283.26. This trade represents a 18.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 41,227 shares of company stock valued at $872,743. Insiders own 33.14% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in shares of Escalade by 3.4% in the 1st quarter. Royal Bank of Canada now owns 20,033 shares of the company's stock valued at $344,000 after buying an additional 661 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Escalade by 7.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 11,845 shares of the company's stock worth $160,000 after acquiring an additional 779 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Escalade by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 221,996 shares of the company's stock worth $2,995,000 after acquiring an additional 878 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of Escalade by 2.5% in the third quarter. Bridgeway Capital Management LLC now owns 41,808 shares of the company's stock worth $526,000 after acquiring an additional 1,000 shares during the period. Finally, Certior Financial Group LLC lifted its stake in shares of Escalade by 10.2% in the fourth quarter. Certior Financial Group LLC now owns 12,351 shares of the company's stock worth $167,000 after acquiring an additional 1,143 shares during the period. 65.22% of the stock is owned by institutional investors and hedge funds.

Escalade Company Profile

Escalade, Inc is a U.S.-based manufacturer and distributor of recreational equipment and specialty products for both consumer and commercial markets. Headquartered in Evansville, Indiana, the company operates through two principal business segments: Sporting Goods and Commercial Products. The Sporting Goods segment encompasses a diverse range of products such as hockey and lacrosse goal assemblies, fitness accessories, archery and hunting gear, and table tennis equipment. The Commercial Products segment focuses on seating solutions for restaurants, hospitality venues and other public spaces under the Top Seat brand, as well as storage, display products and industrial carts.

Within Sporting Goods, Escalade markets its products under proprietary brands including Bear® Archery, Gene St.

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