Zacks: Brokerages Set $67.50 Target Price for Johnson Outdoors Inc. (JOUT)
Shares of Johnson Outdoors Inc. (NASDAQ:JOUT) have received a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.
Analysts have set a 1-year consensus price target of $67.50 for the company and are expecting that the company will post $0.02 EPS for the current quarter, according to Zacks. Zacks has also assigned Johnson Outdoors an industry rank of 87 out of 265 based on the ratings given to related companies.
JOUT has been the subject of a number of research reports. Zacks Investment Research cut Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 10th. ValuEngine cut Johnson Outdoors from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Forward View reissued a “buy” rating and set a $72.00 price target on shares of Johnson Outdoors in a report on Sunday, September 3rd. BidaskClub raised Johnson Outdoors from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Imperial Capital boosted their price target on Johnson Outdoors from $49.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, August 7th. They noted that the move was a valuation call.
Johnson Outdoors (NASDAQ JOUT) traded down $0.81 during trading on Thursday, reaching $72.78. The company had a trading volume of 10,404 shares, compared to its average volume of 31,984. The company has a market cap of $727.44, a PE ratio of 25.99 and a beta of 0.69.
Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings data on Friday, August 4th. The company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.63. The company had revenue of $155.27 million during the quarter, compared to analysts’ expectations of $149.29 million. Johnson Outdoors had a return on equity of 12.90% and a net margin of 6.85%. analysts forecast that Johnson Outdoors will post 3.5 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 13th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.55%. The ex-dividend date was Thursday, October 12th. This is a positive change from Johnson Outdoors’s previous quarterly dividend of $0.09. Johnson Outdoors’s payout ratio is currently 12.38%.
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In other news, Director Thomas F. Pyle, Jr. sold 1,000 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $63.16, for a total value of $63,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Terry E. London sold 1,127 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $59.81, for a total value of $67,405.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,077 shares of company stock valued at $322,834. Corporate insiders own 28.03% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in JOUT. Bank of New York Mellon Corp boosted its stake in shares of Johnson Outdoors by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 43,539 shares of the company’s stock worth $1,590,000 after acquiring an additional 3,442 shares during the period. JPMorgan Chase & Co. bought a new position in Johnson Outdoors during the first quarter valued at approximately $461,000. American International Group Inc. boosted its stake in Johnson Outdoors by 7.2% during the first quarter. American International Group Inc. now owns 3,020 shares of the company’s stock valued at $110,000 after buying an additional 202 shares during the last quarter. FMR LLC boosted its stake in Johnson Outdoors by 52.8% during the first quarter. FMR LLC now owns 138,613 shares of the company’s stock valued at $5,059,000 after buying an additional 47,913 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Johnson Outdoors by 14.0% during the first quarter. Vanguard Group Inc. now owns 196,830 shares of the company’s stock valued at $7,184,000 after buying an additional 24,147 shares during the last quarter. 58.94% of the stock is owned by hedge funds and other institutional investors.
Johnson Outdoors Company Profile
Johnson Outdoors Inc is a manufacturer and marketer of branded seasonal, outdoor recreation products. The Company operates through four segments: Marine Electronics, Outdoor Equipment, Watercraft and Diving. Its Marine Electronics segment’s brands are Minn Kota, Humminbird and Cannon. Its Outdoor Equipment segment’s brands are Eureka!, Jetboil and Silva.
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