Escalade (NASDAQ:ESCA) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen has downgraded Escalade (NASDAQ:ESCA) from a "strong-buy" to a "buy" rating, signaling a more cautious outlook for the company.
• Escalade reported a loss in its quarterly earnings, with $0.13 earnings per share, missing the consensus estimate of $0.23 and falling short of revenue expectations.
• Insider selling has been notable, with CFO Stephen Wawrin reducing his share position by 4.82%, amidst ongoing institutional interest in the stock with 65.22% owned by institutional investors.

Escalade (NASDAQ:ESCA - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Escalade Stock Up 1.4%

NASDAQ ESCA traded up $0.18 on Friday, hitting $12.37. The stock had a trading volume of 4,836 shares, compared to its average volume of 18,021. Escalade has a 52-week low of $11.75 and a 52-week high of $16.99. The business's fifty day moving average price is $13.77 and its 200 day moving average price is $14.61. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.15 and a quick ratio of 1.67. The stock has a market cap of $170.69 million, a price-to-earnings ratio of 13.59 and a beta of 0.74.

Escalade (NASDAQ:ESCA - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.10). The business had revenue of $54.33 million for the quarter, compared to analyst estimates of $60.03 million. Escalade had a net margin of 5.30% and a return on equity of 6.86%. Equities research analysts anticipate that Escalade will post 0.93 earnings per share for the current year.

Insider Transactions at Escalade

In other Escalade news, CFO Stephen Wawrin sold 2,177 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $15.16, for a total value of $33,003.32. Following the transaction, the chief financial officer directly owned 43,000 shares in the company, valued at $651,880. The trade was a 4.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 28.75% of the company's stock.

Hedge Funds Weigh In On Escalade

Several institutional investors and hedge funds have recently bought and sold shares of ESCA. JPMorgan Chase & Co. boosted its holdings in Escalade by 98.1% in the 4th quarter. JPMorgan Chase & Co. now owns 37,474 shares of the company's stock valued at $535,000 after purchasing an additional 18,560 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in Escalade in the 4th quarter valued at about $217,000. Wells Fargo & Company MN boosted its holdings in Escalade by 22.9% in the 4th quarter. Wells Fargo & Company MN now owns 6,870 shares of the company's stock valued at $98,000 after purchasing an additional 1,278 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Escalade by 6.9% in the 4th quarter. Renaissance Technologies LLC now owns 12,430 shares of the company's stock valued at $178,000 after purchasing an additional 800 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Escalade by 14.1% in the 4th quarter. Barclays PLC now owns 15,041 shares of the company's stock worth $214,000 after acquiring an additional 1,856 shares during the last quarter. 65.22% of the stock is currently owned by institutional investors and hedge funds.

About Escalade

Escalade, Incorporated, together with its subsidiaries, manufactures, distributes, imports, and sells sporting goods in North America, Europe, and internationally. The company provides various sporting goods brands in basketball goals, archery, indoor and outdoor game recreation, and fitness products.