Escalade (NASDAQ:ESCA) Upgraded to “Strong-Buy” at Zacks Research

Escalade (NASDAQ:ESCAGet Free Report) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Several other research firms have also issued reports on ESCA. Wall Street Zen raised 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 report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat, Escalade presently has an average rating of “Strong Buy”.

View Our Latest Analysis on ESCA

Escalade Stock Up 1.6%

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

Escalade (NASDAQ:ESCAGet Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.52. The business had revenue of $57.70 million for the quarter, compared to the consensus estimate of $57.60 million. Escalade had a net margin of 9.46% and a return on equity of 13.11%. On average, sell-side analysts expect that Escalade will post 1.56 EPS for the current year.

Insiders Place Their Bets

In related news, Director Richard Fenton Baalmann, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $22.27, for a total value of $111,350.00. Following the sale, the director directly owned 97,794 shares of the company’s stock, valued at $2,177,872.38. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Stephen Wawrin sold 3,177 shares of Escalade stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $21.40, for a total value of $67,987.80. Following the completion of the transaction, the chief financial officer owned 45,000 shares in the company, valued at approximately $963,000. This represents a 6.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 33.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Escalade

A number of hedge funds have recently made changes to their positions in ESCA. Raymond James Financial Inc. bought a new stake in shares of Escalade during the 2nd quarter valued at approximately $29,000. Tower Research Capital LLC TRC increased its position in Escalade by 439.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,622 shares of the company’s stock worth $51,000 after purchasing an additional 2,950 shares in the last quarter. Deutsche Bank AG bought a new position in Escalade in the 2nd quarter valued at approximately $156,000. Goldman Sachs Group Inc. lifted its stake in Escalade by 7.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 11,845 shares of the company’s stock valued at $160,000 after purchasing an additional 779 shares during the last quarter. Finally, Certior Financial Group LLC boosted its position in Escalade by 10.2% in the fourth quarter. Certior Financial Group LLC now owns 12,351 shares of the company’s stock valued at $167,000 after buying an additional 1,143 shares in the last quarter. 65.22% of the stock is currently owned by institutional investors and hedge funds.

About Escalade

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Escalade Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Escalade and related companies with MarketBeat.com's FREE daily email newsletter.