Escalade (NASDAQ:ESCA) Upgraded by Zacks Research to Strong-Buy Rating

Escalade (NASDAQ:ESCA) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also recently commented on ESCA. Wall Street Zen upgraded shares of Escalade to a “strong-buy” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Escalade in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Escalade Price Performance

Shares of NASDAQ ESCA opened at $13.41 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.30 and a quick ratio of 1.41. The company has a market cap of $185.06 million, a price-to-earnings ratio of 14.74 and a beta of 0.71. The stock’s 50-day moving average is $12.59 and its two-hundred day moving average is $12.76. Escalade has a 1-year low of $11.41 and a 1-year high of $16.99.

Escalade (NASDAQ:ESCA) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.09. Escalade had a return on equity of 7.49% and a net margin of 5.26%.The business had revenue of $67.79 million during the quarter, compared to the consensus estimate of $58.83 million. Analysts forecast that Escalade will post 0.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Stephen Wawrin sold 2,000 shares of Escalade stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $13.00, for a total transaction of $26,000.00. Following the sale, the chief financial officer owned 41,000 shares in the company, valued at approximately $533,000. The trade was a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Fenton Baalmann, Jr. sold 5,490 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $13.00, for a total value of $71,370.00. Following the completion of the sale, the director directly owned 100,394 shares of the company’s stock, valued at $1,305,122. The trade was a 5.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 12,000 shares of company stock valued at $156,100. 28.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Escalade in the second quarter valued at approximately $29,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Escalade during the 2nd quarter worth $32,000. Tower Research Capital LLC TRC grew 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 during the last quarter. Certior Financial Group LLC purchased a new position in Escalade during the 3rd quarter worth $141,000. Finally, JPMorgan Chase & Co. increased its stake in Escalade by 13.1% in the third quarter. JPMorgan Chase & Co. now owns 13,853 shares of the company’s stock valued at $174,000 after purchasing an additional 1,600 shares during the period. Institutional investors and hedge funds own 65.22% of the company’s stock.

Escalade Company Profile

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.