Johnson Outdoors (NASDAQ:JOUT) Shares Gap Down – Should You Sell?

Johnson Outdoors Inc. (NASDAQ:JOUT) gapped down prior to trading on Friday . The stock had previously closed at $53.50, but opened at $50.72. Johnson Outdoors shares last traded at $50.8850, with a volume of 18,597 shares traded.

Analysts Set New Price Targets

JOUT has been the topic of a number of research reports. Zacks Research cut Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Wall Street Zen lowered Johnson Outdoors from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 15th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Johnson Outdoors Trading Down 3.8%

The firm’s 50-day simple moving average is $48.69 and its 200 day simple moving average is $45.42. The stock has a market cap of $535.84 million, a P/E ratio of -23.54, a PEG ratio of 3.78 and a beta of 0.89.

Johnson Outdoors (NASDAQ:JOUT) last released its quarterly earnings results on Friday, May 8th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.02. The company had revenue of $194.48 million for the quarter, compared to analysts’ expectations of $185.09 million. Johnson Outdoors had a positive return on equity of 0.83% and a negative net margin of 3.56%. On average, analysts anticipate that Johnson Outdoors Inc. will post 1 EPS for the current year.

Johnson Outdoors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, April 16th. This represents a $1.32 annualized dividend and a yield of 2.6%. Johnson Outdoors’s payout ratio is presently -60.27%.

Insider Transactions at Johnson Outdoors

In other Johnson Outdoors news, Director Richard Casey Sheahan sold 7,580 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $49.77, for a total transaction of $377,256.60. Following the completion of the transaction, the director owned 5,739 shares in the company, valued at approximately $285,630.03. The trade was a 56.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 28.21% of the company’s stock.

Institutional Investors Weigh In On Johnson Outdoors

A number of hedge funds and other institutional investors have recently modified their holdings of JOUT. CANADA LIFE ASSURANCE Co lifted its holdings in Johnson Outdoors by 57.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,018 shares of the company’s stock worth $43,000 after purchasing an additional 373 shares during the period. EverSource Wealth Advisors LLC increased its stake in Johnson Outdoors by 260.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,122 shares of the company’s stock valued at $48,000 after buying an additional 811 shares during the period. Highlander Partners L.P. bought a new stake in shares of Johnson Outdoors during the 4th quarter worth about $50,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Johnson Outdoors in the 4th quarter worth approximately $50,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Johnson Outdoors in the 2nd quarter worth approximately $52,000. 64.05% of the stock is currently owned by institutional investors.

Johnson Outdoors Company Profile

Johnson Outdoors Inc is a diversified outdoor recreation company that develops, manufactures and markets a broad range of gear and equipment for marine and land-based activities. The company operates through two primary segments: the Marine Electronics & Boat Group and the Outdoor Products Group. Its marine offerings include electric motors and anchors under the Minn Kota® brand, fish-finding and sonar systems under the Humminbird® brand, and a lineup of recreational watercraft under the Old Town® and Ocean Kayak® names.