Zacks Research Downgrades Johnson Outdoors (NASDAQ:JOUT) to Strong Sell

Johnson Outdoors (NASDAQ:JOUT) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday, Zacks reports.

Separately, Weiss Ratings upgraded 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Johnson Outdoors Stock Up 0.9%

JOUT opened at $44.91 on Thursday. The stock has a market cap of $470.66 million, a P/E ratio of -52.83, a P/E/G ratio of 2.25 and a beta of 0.80. Johnson Outdoors has a 12 month low of $35.65 and a 12 month high of $53.54. The company has a fifty day simple moving average of $46.01 and a 200 day simple moving average of $46.40.

Johnson Outdoors (NASDAQ:JOUT) last posted its 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 firm had revenue of $189.73 million during the quarter, compared to analysts’ expectations of $186.19 million. Johnson Outdoors had a positive return on equity of 4.26% and a negative net margin of 1.21%. On average, equities research analysts expect that Johnson Outdoors will post 1.3 earnings per share for the current fiscal year.

Insider Activity at Johnson Outdoors

In other news, Director Edward Stevens sold 6,250 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $47.86, for a total value of $299,125.00. Following the sale, the director directly owned 10,640 shares in the company, valued at $509,230.40. The trade was a 37.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 28.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Gamco Investors INC. ET AL boosted its position in Johnson Outdoors by 2.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 427,700 shares of the company’s stock worth $19,892,000 after acquiring an additional 9,600 shares during the last quarter. Aristides Capital LLC grew its stake in shares of Johnson Outdoors by 14.9% during the 1st quarter. Aristides Capital LLC now owns 129,832 shares of the company’s stock worth $6,038,000 after acquiring an additional 16,828 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Johnson Outdoors by 19.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 119,451 shares of the company’s stock worth $5,606,000 after acquiring an additional 19,769 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Johnson Outdoors by 16.3% in the first quarter. Bank of New York Mellon Corp now owns 70,571 shares of the company’s stock valued at $3,282,000 after purchasing an additional 9,894 shares during the last quarter. Finally, North Star Investment Management Corp. raised its holdings in shares of Johnson Outdoors by 51.4% in the first quarter. North Star Investment Management Corp. now owns 52,700 shares of the company’s stock valued at $2,451,000 after purchasing an additional 17,899 shares during the last quarter. 64.05% of the stock is currently owned by institutional investors.

Johnson Outdoors Company Profile

Johnson Outdoors Inc is an outdoor recreation company that designs, manufactures and markets equipment for fishing, watercraft, diving, camping and other outdoor activities. Its products are sold through retailers, dealers and distributors in the United States and international markets.

The company’s fishing portfolio includes Minn Kota electric trolling motors, Humminbird marine electronics and Cannon downriggers. Its watercraft brands include Old Town kayaks and canoes, Ocean Kayak products and Carlisle paddles, while its camping business includes Eureka! tents and outdoor equipment and Jetboil cooking systems.