Escalade (NASDAQ:ESCA) Rating Lowered to Hold at Zacks Research

Escalade (NASDAQ:ESCA) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts have also recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Escalade in a research report on Thursday, January 22nd. Wall Street Zen upgraded Escalade from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 18th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Escalade Stock Down 0.6%

Shares of ESCA traded down $0.08 during mid-day trading on Tuesday, hitting $14.16. 16,546 shares of the company traded hands, compared to its average volume of 19,209. The company has a market capitalization of $195.41 million, a PE ratio of 15.46 and a beta of 0.69. The company has a quick ratio of 1.41, a current ratio of 3.30 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $13.39 and a 200 day moving average of $12.74. Escalade has a 1-year low of $11.41 and a 1-year high of $16.99.

Escalade (NASDAQ:ESCA) last released its earnings results on Thursday, October 30th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09. The company had revenue of $67.79 million for the quarter, compared to the consensus estimate of $58.83 million. Escalade had a net margin of 5.26% and a return on equity of 7.49%. Equities research analysts anticipate that Escalade will post 0.93 EPS for the current year.

Insider Transactions at Escalade

In other Escalade news, CFO Stephen Wawrin sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $13.00, for a total value of $26,000.00. Following the completion of the transaction, the chief financial officer directly owned 41,000 shares of the company’s stock, valued at approximately $533,000. The trade was a 4.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard Fenton Baalmann, Jr. sold 5,490 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $13.00, for a total transaction of $71,370.00. Following the sale, the director directly owned 100,394 shares in the company, valued at $1,305,122. The trade was a 5.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,000 shares of company stock worth $156,100 in the last 90 days. Company insiders own 28.75% of the company’s stock.

Institutional Trading of Escalade

A number of hedge funds have recently added to or reduced their stakes in ESCA. Bridgeway Capital Management LLC increased its holdings in Escalade by 2.5% in the third quarter. Bridgeway Capital Management LLC now owns 41,808 shares of the company’s stock valued at $526,000 after buying an additional 1,000 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Escalade by 13.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,853 shares of the company’s stock valued at $174,000 after purchasing an additional 1,600 shares in the last quarter. Arete Wealth Advisors LLC raised its holdings in Escalade by 8.0% in the 3rd quarter. Arete Wealth Advisors LLC now owns 22,605 shares of the company’s stock worth $284,000 after purchasing an additional 1,676 shares during the period. Raymond James Financial Inc. purchased a new position in Escalade during the second quarter worth approximately $29,000. Finally, Prosperity Consulting Group LLC grew its holdings in Escalade by 11.7% in the third quarter. Prosperity Consulting Group LLC now owns 19,782 shares of the company’s stock valued at $249,000 after purchasing an additional 2,075 shares during the period. 65.22% of the stock is owned by hedge funds and other institutional investors.

About Escalade

Escalade, Inc is a U.S.-based manufacturer and distributor of recreational equipment and specialty products for both consumer and commercial markets. Headquartered in Evansville, Indiana, the company operates through two principal business segments: Sporting Goods and Commercial Products. The Sporting Goods segment encompasses a diverse range of products such as hockey and lacrosse goal assemblies, fitness accessories, archery and hunting gear, and table tennis equipment. The Commercial Products segment focuses on seating solutions for restaurants, hospitality venues and other public spaces under the Top Seat brand, as well as storage, display products and industrial carts.

Within Sporting Goods, Escalade markets its products under proprietary brands including Bear® Archery, Gene St.