Zacks Investment Research Downgrades Johnson Outdoors (JOUT) to Hold

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

According to Zacks, “Johnson Outdoors Inc. is a leading global outdoor recreation company that turns ideas into adventure with innovative, top-quality products. The Company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft, Marine Electronics, Diving and Outdoor Equipment. Johnson Outdoors’ familiar brands include, among others: Old Town canoes and kayaks; Ocean Kayak and Necky kayaks; Lendal paddles; Escape electric boats; Minn Kota motors; Cannon downriggers; Humminbird, Bottom Line and Fishin’ Buddy fishfinders; Scubapro and UWATEC dive equipment; Silva compasses and digital instruments; and Eureka! tents. “

Several other equities research analysts have also recently commented on the company. BidaskClub cut Johnson Outdoors from a buy rating to a hold rating in a research note on Thursday, January 11th. Imperial Capital boosted their target price on Johnson Outdoors from $70.00 to $75.00 and gave the company an outperform rating in a research note on Wednesday, February 7th. Finally, Sidoti assumed coverage on Johnson Outdoors in a research note on Friday, January 19th. They issued a neutral rating on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Johnson Outdoors currently has a consensus rating of Hold and an average price target of $73.33.

Johnson Outdoors (JOUT) opened at $64.52 on Thursday. Johnson Outdoors has a 12-month low of $32.98 and a 12-month high of $76.18. The stock has a market capitalization of $644.81, a P/E ratio of 20.68 and a beta of 0.57.

Johnson Outdoors (NASDAQ:JOUT) last issued its quarterly earnings data on Friday, December 8th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. Johnson Outdoors had a return on equity of 15.95% and a net margin of 6.10%. The business had revenue of $91.76 million during the quarter, compared to analyst estimates of $81.97 million. equities research analysts expect that Johnson Outdoors will post 3.19 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Thursday, January 11th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Wednesday, January 10th. Johnson Outdoors’s payout ratio is 12.82%.

In other Johnson Outdoors news, Director Richard Case Sheahan sold 4,434 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $61.65, for a total value of $273,356.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP David W. Johnson sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $62.31, for a total value of $62,310.00. The disclosure for this sale can be found here. Insiders own 18.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC bought a new stake in Johnson Outdoors in the 4th quarter valued at approximately $157,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Johnson Outdoors during the 3rd quarter worth approximately $206,000. Paloma Partners Management Co bought a new stake in shares of Johnson Outdoors during the 4th quarter worth approximately $207,000. The Manufacturers Life Insurance Company raised its stake in shares of Johnson Outdoors by 11.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,775 shares of the company’s stock worth $231,000 after purchasing an additional 488 shares in the last quarter. Finally, Cypress Capital Management LLC WY bought a new stake in shares of Johnson Outdoors during the 3rd quarter worth approximately $254,000. Hedge funds and other institutional investors own 60.63% of the company’s stock.

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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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