Zacks Research Downgrades Johnson Outdoors (NASDAQ:JOUT) to Strong Sell

Key Points

• Zacks Research downgraded Johnson Outdoors from a "hold" rating to a "strong sell" rating, reflecting concerns over the company's future performance.
• Despite the downgrade, another firm, Wall Street Zen, upgraded Johnson Outdoors from "hold" to "buy," indicating mixed analyst sentiment towards the stock.
• As of the latest earnings report, Johnson Outdoors posted earnings of $0.75 per share, significantly exceeding analyst expectations, though it is projected to report a loss for the current fiscal year.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Wednesday,Zacks.com reports.

Separately, Wall Street Zen raised Johnson Outdoors from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of "Sell".

Johnson Outdoors Stock Up 0.8%

Shares of JOUT stock opened at $41.38 on Wednesday. The stock has a market cap of $429.19 million, a price-to-earnings ratio of -10.69, a PEG ratio of 2.79 and a beta of 0.85. The business's fifty day moving average is $39.38 and its 200 day moving average is $31.29. Johnson Outdoors has a twelve month low of $21.33 and a twelve month high of $42.88.

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 analysts' expectations of $172.98 million. Johnson Outdoors had a negative return on equity of 8.80% and a negative net margin of 7.02%. Equities research analysts expect 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 modified their holdings of the business. Corient Private Wealth LLC bought a new position in shares of Johnson Outdoors during the second quarter valued at $1,528,000. Engineers Gate Manager LP lifted its holdings in shares of Johnson Outdoors by 40.1% during the second quarter. Engineers Gate Manager LP now owns 18,826 shares of the company's stock valued at $570,000 after purchasing an additional 5,389 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Johnson Outdoors by 8.5% during the second quarter. Bridgeway Capital Management LLC now owns 24,682 shares of the company's stock valued at $747,000 after purchasing an additional 1,941 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Johnson Outdoors by 2.2% during the second quarter. Ameriprise Financial Inc. now owns 56,022 shares of the company's stock valued at $1,696,000 after purchasing an additional 1,190 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Johnson Outdoors during the second quarter valued at $52,000. 64.05% of the stock is owned by institutional investors.

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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