Johnson Outdoors (NASDAQ:JOUT) Stock Moved Down to “Strong Sell” by Zacks Research

Zacks Research cut shares of Johnson Outdoors (NASDAQ:JOUT) from a hold rating to a strong sell rating in a research report released on Thursday,Zacks reports.

Separately, Weiss Ratings upgraded shares of Johnson Outdoors from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

Johnson Outdoors Stock Performance

Shares of Johnson Outdoors stock opened at $44.91 on Thursday. Johnson Outdoors has a one year low of $35.65 and a one year high of $53.54. The company has a market cap of $470.66 million, a P/E ratio of -52.83, a PEG ratio of 2.25 and a beta of 0.80. The firm has a fifty day moving average of $46.01 and a two-hundred day moving average of $46.40.

Johnson Outdoors (NASDAQ:JOUT) last issued its earnings results on Friday, August 7th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.74. Johnson Outdoors had a negative net margin of 1.21% and a positive return on equity of 4.26%. The business had revenue of $189.73 million for the quarter, compared to the consensus estimate of $186.19 million. As a group, equities analysts predict that Johnson Outdoors will post 1.3 earnings per share for the current year.

Johnson Outdoors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 9th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, October 9th. Johnson Outdoors’s payout ratio is presently -155.29%.

Insider Buying and Selling at Johnson Outdoors

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

Institutional Inflows and Outflows

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

About Johnson Outdoors

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.