Johnson Outdoors (NASDAQ:JOUT) Shares Cross Above 200 Day Moving Average – Here’s Why

Johnson Outdoors Inc. (NASDAQ:JOUT)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $45.80 and traded as high as $47.14. Johnson Outdoors shares last traded at $44.84, with a volume of 98,379 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Zacks Research downgraded shares of Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Johnson Outdoors in a report on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Johnson Outdoors from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One research 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 Down 2.2%

The company’s 50 day moving average price is $47.62 and its 200-day moving average price is $45.80. The stock has a market cap of $469.92 million, a P/E ratio of -29.50, a P/E/G ratio of 4.27 and a beta of 0.82.

Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.02. Johnson Outdoors had a negative net margin of 2.33% and a positive return on equity of 2.52%. The company had revenue of $194.48 million during the quarter, compared to analysts’ expectations of $185.09 million. Equities research analysts anticipate that Johnson Outdoors Inc. will post 0.75 earnings per share for the current year.

Johnson Outdoors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 16th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Thursday, July 16th. Johnson Outdoors’s dividend payout ratio (DPR) is presently -86.84%.

Institutional Investors Weigh In On Johnson Outdoors

A number of large investors have recently bought and sold shares of the stock. AQR Capital Management LLC grew its holdings in shares of Johnson Outdoors by 127.5% during the first quarter. AQR Capital Management LLC now owns 33,515 shares of the company’s stock valued at $833,000 after buying an additional 18,782 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Johnson Outdoors by 7.6% during the first quarter. Empowered Funds LLC now owns 20,782 shares of the company’s stock valued at $516,000 after buying an additional 1,468 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Johnson Outdoors by 17.3% during the first quarter. Acadian Asset Management LLC now owns 15,106 shares of the company’s stock valued at $374,000 after buying an additional 2,230 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Johnson Outdoors by 2.6% during the second quarter. Geode Capital Management LLC now owns 135,841 shares of the company’s stock valued at $4,113,000 after buying an additional 3,408 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Johnson Outdoors by 3.7% during the second quarter. Rhumbline Advisers now owns 8,066 shares of the company’s stock valued at $244,000 after buying an additional 289 shares during the last quarter. 64.05% of the stock is currently owned by institutional investors and hedge funds.

About Johnson Outdoors

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.