Zacks Investment Research upgraded shares of Johnson Outdoors Inc. (NASDAQ:JOUT) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning. The brokerage currently has $66.00 target price on the stock.
According to Zacks, “Johnson Outdoors Inc. is a leading global outdoor recreation company that turns ideas into adventure with innovative, top-quality products. The Company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft, Marine Electronics, Diving and Outdoor Equipment. Johnson Outdoors’ familiar brands include, among others: Old Town canoes and kayaks; Ocean Kayak and Necky kayaks; Lendal paddles; Escape electric boats; Minn Kota motors; Cannon downriggers; Humminbird, Bottom Line and Fishin’ Buddy fishfinders; Scubapro and UWATEC dive equipment; Silva compasses and digital instruments; and Eureka! tents. “
Other research analysts have also issued research reports about the company. Imperial Capital boosted their target price on Johnson Outdoors from $49.00 to $63.00 and gave the company an outperform rating in a research report on Monday, August 7th. They noted that the move was a valuation call. BidaskClub upgraded Johnson Outdoors from a buy rating to a strong-buy rating in a research report on Wednesday. Forward View upgraded Johnson Outdoors from a sell rating to a hold rating in a research report on Tuesday, May 9th. Finally, ValuEngine upgraded Johnson Outdoors from a hold rating to a buy rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Johnson Outdoors currently has an average rating of Buy and an average price target of $53.00.
Shares of Johnson Outdoors (JOUT) traded up 3.11% on Wednesday, hitting $61.61. The stock had a trading volume of 62,329 shares. The company has a market cap of $605.75 million, a P/E ratio of 19.03 and a beta of 0.77. The company has a 50-day moving average of $50.49 and a 200-day moving average of $41.23. Johnson Outdoors has a 52-week low of $28.26 and a 52-week high of $61.85.
Johnson Outdoors (NASDAQ:JOUT) last announced its earnings results on Friday, August 4th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.63. Johnson Outdoors had a return on equity of 12.90% and a net margin of 6.85%. The business had revenue of $155.27 million during the quarter, compared to analyst estimates of $149.29 million. On average, equities analysts anticipate that Johnson Outdoors will post $2.87 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Thursday, July 27th. Stockholders of record on Thursday, July 13th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Tuesday, July 11th. Johnson Outdoors’s dividend payout ratio is presently 11.15%.
In other news, Director Terry E. London sold 1,127 shares of Johnson Outdoors stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $59.81, for a total transaction of $67,405.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 28.03% of the company’s stock.
Several hedge funds have recently bought and sold shares of JOUT. Nordea Investment Management AB bought a new stake in Johnson Outdoors during the second quarter valued at $174,000. Vanguard Group Inc. increased its stake in Johnson Outdoors by 10.3% in the second quarter. Vanguard Group Inc. now owns 217,062 shares of the company’s stock valued at $10,464,000 after buying an additional 20,232 shares in the last quarter. Northern Trust Corp increased its stake in Johnson Outdoors by 5.9% in the second quarter. Northern Trust Corp now owns 77,877 shares of the company’s stock valued at $3,754,000 after buying an additional 4,339 shares in the last quarter. New York State Common Retirement Fund increased its stake in Johnson Outdoors by 30.4% in the second quarter. New York State Common Retirement Fund now owns 6,000 shares of the company’s stock valued at $289,000 after buying an additional 1,399 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in Johnson Outdoors by 14.8% in the second quarter. Nationwide Fund Advisors now owns 24,806 shares of the company’s stock valued at $1,196,000 after buying an additional 3,192 shares in the last quarter. 60.26% 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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