Johnson Outdoors Inc. (JOUT) Rating Increased to Strong-Buy at BidaskClub
Johnson Outdoors Inc. (NASDAQ:JOUT) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.
A number of other equities research analysts have also commented on JOUT. Imperial Capital increased their price objective on shares of Johnson Outdoors to $63.00 and gave the stock an “outperform” rating in a report on Monday. They noted that the move was a valuation call. Forward View raised shares of Johnson Outdoors from a “hold” rating to a “buy” rating in a report on Friday, August 4th. ValuEngine raised shares of Johnson Outdoors from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research lowered shares of Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $48.67.
Shares of Johnson Outdoors (NASDAQ JOUT) traded down 2.300% during mid-day trading on Wednesday, hitting $56.041. 953 shares of the stock were exchanged. The firm has a market cap of $550.32 million, a price-to-earnings ratio of 24.742 and a beta of 0.77. The company’s 50-day moving average is $47.87 and its 200-day moving average is $40.08. Johnson Outdoors has a 1-year low of $27.97 and a 1-year high of $57.34.
Johnson Outdoors (NASDAQ:JOUT) last issued its quarterly earnings data on Friday, August 4th. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.63. Johnson Outdoors had a net margin of 6.85% and a return on equity of 12.90%. The firm had revenue of $155.27 million for the quarter, compared to analyst estimates of $149.29 million. Equities research analysts anticipate that Johnson Outdoors will post $2.87 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Chicago Equity Partners LLC raised its position in shares of Johnson Outdoors by 6.0% in the second quarter. Chicago Equity Partners LLC now owns 46,868 shares of the company’s stock valued at $2,260,000 after buying an additional 2,660 shares during the period. IndexIQ Advisors LLC acquired a new position in shares of Johnson Outdoors during the second quarter valued at about $625,000. ClariVest Asset Management LLC acquired a new position in shares of Johnson Outdoors during the second quarter valued at about $174,000. Smith Asset Management Group LP acquired a new position in shares of Johnson Outdoors during the second quarter valued at about $149,000. Finally, First Trust Advisors LP acquired a new position in shares of Johnson Outdoors during the second quarter valued at about $226,000. 60.26% of the stock is currently owned by 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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