Johnson Outdoors (NASDAQ:JOUT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Johnson Outdoors (NASDAQ:JOUT) from a hold rating to a buy rating in a research note published on Saturday,Wall Street Zen reports.

A number of other equities analysts have also issued reports on JOUT. Zacks Research lowered Johnson Outdoors from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 1st. Weiss Ratings raised Johnson Outdoors from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce”.

Johnson Outdoors Trading Up 4.7%

NASDAQ:JOUT opened at $47.83 on Friday. The company has a market cap of $501.26 million, a PE ratio of -56.27, a P/E/G ratio of 2.29 and a beta of 0.80. Johnson Outdoors has a twelve month low of $35.65 and a twelve month high of $53.54. The company’s 50 day moving average is $44.62 and its two-hundred day moving average is $46.40.

Johnson Outdoors (NASDAQ:JOUT) last issued its quarterly earnings results on Friday, August 7th. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.74. The business had revenue of $189.73 million for the quarter, compared to analyst estimates of $186.19 million. Johnson Outdoors had a negative net margin of 1.21% and a positive return on equity of 4.26%. As a group, analysts expect that Johnson Outdoors will post 1.30 EPS for the current fiscal year.

Johnson Outdoors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 9th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, October 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.8%. Johnson Outdoors’s dividend payout ratio (DPR) is currently -155.29%.

Insider Buying and Selling

In other Johnson Outdoors news, Director Edward Stevens sold 6,250 shares of Johnson Outdoors stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $47.86, for a total transaction of $299,125.00. Following the completion of the sale, the director directly owned 10,640 shares in the company, valued at approximately $509,230.40. The trade was a 37.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 28.21% of the company’s stock.

Institutional Trading of Johnson Outdoors

A number of hedge funds and other institutional investors have recently made changes to their positions in JOUT. EverSource Wealth Advisors LLC raised its position in Johnson Outdoors by 50.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,684 shares of the company’s stock valued at $78,000 after acquiring an additional 562 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Johnson Outdoors by 72.1% in the second quarter. Versant Capital Management Inc now owns 1,365 shares of the company’s stock valued at $63,000 after acquiring an additional 572 shares during the period. Diversified Investment Strategies LLC lifted its holdings in Johnson Outdoors by 3.0% in the first quarter. Diversified Investment Strategies LLC now owns 36,948 shares of the company’s stock valued at $1,718,000 after acquiring an additional 1,059 shares during the period. Quantinno Capital Management LP boosted its position in Johnson Outdoors by 10.4% in the 1st quarter. Quantinno Capital Management LP now owns 27,312 shares of the company’s stock worth $1,270,000 after purchasing an additional 2,572 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Johnson Outdoors by 51.1% in the 1st quarter. Bank of America Corp DE now owns 8,018 shares of the company’s stock worth $373,000 after purchasing an additional 2,712 shares in the last quarter. Institutional investors and hedge funds own 64.05% of the company’s stock.

About Johnson Outdoors

Johnson Outdoors Inc is an outdoor recreation company that designs, manufactures and markets equipment for fishing, watercraft, diving and camping. Its products are sold through specialty retailers, sporting-goods stores, online channels and distributors in North America and international markets.

The company’s marine businesses include Minn Kota electric trolling motors, Humminbird fish-finding and marine electronics, and Cannon downriggers. Its watercraft portfolio includes Old Town canoes, kayaks and paddlecraft, along with related paddles and accessories marketed under brands such as Carlisle.

Johnson Outdoors also offers diving equipment through its SCUBAPRO brand and camping and outdoor gear through brands including Eureka! and Jetboil.