Johnson Outdoors (NASDAQ:JOUT) Cut to Hold at Zacks Investment Research

Share on StockTwits

Zacks Investment Research downgraded shares of Johnson Outdoors (NASDAQ:JOUT) from a strong-buy rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “Johnson Outdoors Inc. is a leading global outdoor recreation company that turns ideas into adventure with innovative, top-quality products. The Company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft, Marine Electronics, Diving and Outdoor Equipment. Johnson Outdoors’ familiar brands include, among others: Old Town canoes and kayaks; Ocean Kayak and Necky kayaks; Lendal paddles; Escape electric boats; Minn Kota motors; Cannon downriggers; Humminbird, Bottom Line and Fishin’ Buddy fishfinders; Scubapro and UWATEC dive equipment; Silva compasses and digital instruments; and Eureka! tents. “

A number of other research firms have also weighed in on JOUT. ValuEngine raised shares of USINAS SIDERURG/S from a sell rating to a hold rating in a report on Wednesday, May 29th. BidaskClub raised shares of Wintrust Financial from a strong sell rating to a sell rating in a report on Monday, April 1st. Finally, Imperial Capital upped their target price on shares of PARKER DRILLING/SH PAR $ from $20.00 to $25.00 and gave the stock an outperform rating in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Johnson Outdoors currently has an average rating of Hold and a consensus price target of $94.00.

Johnson Outdoors stock traded down $0.64 during midday trading on Wednesday, reaching $73.11. 17,500 shares of the stock were exchanged, compared to its average volume of 45,753. The firm has a fifty day simple moving average of $76.78. The stock has a market cap of $760.71 million, a price-to-earnings ratio of 15.59 and a beta of 0.97. Johnson Outdoors has a 52 week low of $54.66 and a 52 week high of $107.36.

Johnson Outdoors (NASDAQ:JOUT) last posted its earnings results on Friday, May 3rd. The company reported $2.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.32. The business had revenue of $177.71 million for the quarter, compared to analyst estimates of $171.80 million. Johnson Outdoors had a net margin of 8.13% and a return on equity of 15.51%. As a group, analysts anticipate that Johnson Outdoors will post 4.76 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Wednesday, July 10th. Johnson Outdoors’s dividend payout ratio (DPR) is presently 11.94%.

In related news, CFO David W. Johnson sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $82.07, for a total transaction of $82,070.00. Following the sale, the chief financial officer now owns 14,958 shares of the company’s stock, valued at approximately $1,227,603.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 18.60% of the company’s stock.

Several large investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Johnson Outdoors by 1.5% in the 4th quarter. BlackRock Inc. now owns 356,175 shares of the company’s stock worth $20,923,000 after buying an additional 5,178 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Johnson Outdoors by 63.6% in the 1st quarter. Royce & Associates LP now owns 231,722 shares of the company’s stock worth $16,536,000 after buying an additional 90,053 shares during the last quarter. THB Asset Management increased its holdings in shares of Johnson Outdoors by 48.4% in the 1st quarter. THB Asset Management now owns 221,935 shares of the company’s stock worth $15,837,000 after buying an additional 72,423 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Johnson Outdoors by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 117,476 shares of the company’s stock worth $6,900,000 after buying an additional 3,030 shares during the last quarter. Finally, Tredje AP fonden increased its holdings in shares of Johnson Outdoors by 1.3% in the 1st quarter. Tredje AP fonden now owns 82,977 shares of the company’s stock worth $3,087,000 after buying an additional 1,027 shares during the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

Johnson Outdoors Company Profile

Johnson Outdoors Inc designs, manufactures, and markets camping, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers electric 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.

Featured Article: How can you know how many shares are floating?

Get a free copy of the Zacks research report on Johnson Outdoors (JOUT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Johnson Outdoors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson Outdoors and related companies with MarketBeat.com's FREE daily email newsletter.