Wall Street Zen Upgrades Johnson Outdoors (NASDAQ:JOUT) to Strong-Buy

Key Points

• Analysts from Wall Street Zen upgraded Johnson Outdoors from a "buy" rating to a "strong-buy" rating, indicating increased confidence in the stock's performance.
• Despite this upgrade, Zacks Research has downgraded the stock to a "strong sell," contributing to an overall average rating of "sell" among analysts.
• Johnson Outdoors reported a quarterly earnings per share of $0.75, significantly outperforming the estimated $0.24, while revenue also exceeded expectations at $180.66 million.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Saturday.

Several other equities research analysts have also commented on the company. Zacks Research lowered Johnson Outdoors from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 1st. Weiss Ratings restated a "sell (d+)" rating on shares of Johnson Outdoors in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of "Sell".

Johnson Outdoors Trading Down 1.0%

Shares of NASDAQ:JOUT opened at $40.35 on Friday. Johnson Outdoors has a twelve month low of $21.33 and a twelve month high of $43.37. The company's 50 day moving average is $40.69 and its 200 day moving average is $32.54. The company has a market cap of $418.43 million, a PE ratio of -10.43, a price-to-earnings-growth ratio of 2.77 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. Johnson Outdoors had a negative net margin of 7.02% and a negative return on equity of 8.80%. The company had revenue of $180.66 million for the quarter, compared to the consensus estimate of $172.98 million. Equities research analysts predict that Johnson Outdoors will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in JOUT. CSM Advisors LLC purchased a new position in shares of Johnson Outdoors during the 2nd quarter valued at approximately $2,020,000. Corient Private Wealth LLC purchased a new position in shares of Johnson Outdoors during the 2nd quarter valued at approximately $1,528,000. Diamond Hill Capital Management Inc. lifted its position in shares of Johnson Outdoors by 523.6% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 55,143 shares of the company's stock valued at $1,370,000 after buying an additional 46,301 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Johnson Outdoors by 11.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 397,117 shares of the company's stock valued at $9,864,000 after buying an additional 41,717 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Johnson Outdoors by 28.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 182,574 shares of the company's stock valued at $5,527,000 after buying an additional 40,308 shares in the last quarter. Hedge funds and other institutional investors own 64.05% of the company's stock.

Johnson Outdoors Company Profile

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.

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