Escalade (NASDAQ:ESCA) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Escalade (NASDAQ:ESCA) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Escalade from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Weiss Ratings raised shares of Escalade from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat, Escalade presently has an average rating of “Strong Buy”.

Escalade Trading Up 1.6%

Shares of ESCA opened at $22.60 on Thursday. The business’s 50 day moving average is $19.07 and its 200 day moving average is $17.54. Escalade has a 12-month low of $11.41 and a 12-month high of $23.07. The company has a market capitalization of $311.11 million, a PE ratio of 13.53 and a beta of 0.58.

Escalade (NASDAQ:ESCA) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.52. Escalade had a return on equity of 13.11% and a net margin of 9.46%.The business had revenue of $57.70 million during the quarter, compared to the consensus estimate of $57.60 million. Equities research analysts predict that Escalade will post 1.56 earnings per share for the current year.

Escalade Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Tuesday, October 6th will be paid a dividend of $0.1525 per share. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $0.61 dividend on an annualized basis and a yield of 2.7%. Escalade’s dividend payout ratio is presently 36.53%.

Insider Activity at Escalade

In other Escalade news, CFO Stephen Wawrin sold 3,177 shares of Escalade stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $21.40, for a total value of $67,987.80. Following the sale, the chief financial officer owned 45,000 shares of the company’s stock, valued at $963,000. The trade was a 6.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard Fenton Baalmann, Jr. sold 5,000 shares of Escalade stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $22.27, for a total value of $111,350.00. Following the completion of the sale, the director directly owned 97,794 shares in the company, valued at approximately $2,177,872.38. The trade was a 4.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 33.14% of the company’s stock.

Institutional Investors Weigh In On Escalade

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Escalade by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 221,456 shares of the company’s stock worth $3,096,000 after buying an additional 4,455 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Escalade during the 2nd quarter valued at about $29,000. Tower Research Capital LLC TRC raised its position in shares of Escalade by 439.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,622 shares of the company’s stock valued at $51,000 after buying an additional 2,950 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Escalade by 13.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,853 shares of the company’s stock valued at $174,000 after buying an additional 1,600 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Escalade by 2.5% in the 3rd quarter. Bridgeway Capital Management LLC now owns 41,808 shares of the company’s stock valued at $526,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

Escalade Company Profile

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.