ValuEngine Downgrades Johnson Outdoors (JOUT) to Sell

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Johnson Outdoors (NASDAQ:JOUT) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Several other research analysts have also issued reports on JOUT. BidaskClub lowered shares of Johnson Outdoors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 26th. Sidoti raised shares of Johnson Outdoors from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 7th. Imperial Capital raised their target price on shares of Johnson Outdoors from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, August 8th. Finally, Zacks Investment Research lowered shares of Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Johnson Outdoors currently has a consensus rating of “Hold” and a consensus target price of $98.50.

Shares of NASDAQ JOUT traded down $1.08 during mid-day trading on Wednesday, hitting $73.26. The company’s stock had a trading volume of 22,100 shares, compared to its average volume of 36,519. The firm has a market capitalization of $763.81 million, a PE ratio of 23.79 and a beta of 0.90. Johnson Outdoors has a one year low of $59.13 and a one year high of $107.36.

Johnson Outdoors (NASDAQ:JOUT) last issued its earnings results on Tuesday, August 7th. The company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.41. The company had revenue of $170.78 million for the quarter, compared to analyst estimates of $160.86 million. Johnson Outdoors had a net margin of 8.48% and a return on equity of 20.47%. As a group, equities research analysts expect that Johnson Outdoors will post 5.15 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in shares of Johnson Outdoors by 12.4% in the 2nd quarter. Renaissance Technologies LLC now owns 397,300 shares of the company’s stock valued at $33,584,000 after acquiring an additional 43,700 shares during the period. BlackRock Inc. raised its position in shares of Johnson Outdoors by 6.8% in the 2nd quarter. BlackRock Inc. now owns 374,253 shares of the company’s stock valued at $31,635,000 after acquiring an additional 23,982 shares during the period. Acadian Asset Management LLC raised its position in shares of Johnson Outdoors by 13.9% in the 3rd quarter. Acadian Asset Management LLC now owns 193,374 shares of the company’s stock valued at $17,984,000 after acquiring an additional 23,639 shares during the period. Tredje AP fonden raised its position in shares of Johnson Outdoors by 90.2% in the 2nd quarter. Tredje AP fonden now owns 156,181 shares of the company’s stock valued at $5,265,000 after acquiring an additional 74,065 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of Johnson Outdoors by 23.0% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 87,693 shares of the company’s stock valued at $7,413,000 after acquiring an additional 16,393 shares during the period. 63.19% of the stock is currently owned by institutional investors.

Johnson Outdoors Company Profile

Johnson Outdoors Inc designs, manufactures, and markets outdoor equipment, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers battery-powered fishing motors for trolling or primary propulsion, 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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