Zacks Investment Research Lowers Johnson Outdoors (JOUT) to Hold

Zacks Investment Research lowered shares of Johnson Outdoors (NASDAQ:JOUT) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning.

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. “

How to Become a New Pot Stock Millionaire

A number of other brokerages have also recently commented on JOUT. Imperial Capital restated an outperform rating and set a $70.00 target price (up from $63.00) on shares of Johnson Outdoors in a report on Friday, December 15th. Sidoti started coverage on Johnson Outdoors in a report on Friday, January 19th. They set a neutral rating for the company. Finally, BidaskClub cut Johnson Outdoors from a buy rating to a hold rating in a report on Thursday, January 11th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Johnson Outdoors presently has an average rating of Hold and a consensus price target of $74.00.

Shares of NASDAQ:JOUT opened at $63.93 on Wednesday. Johnson Outdoors has a one year low of $33.03 and a one year high of $76.18. The stock has a market cap of $633.52, a price-to-earnings ratio of 20.76 and a beta of 0.53.

Johnson Outdoors (NASDAQ:JOUT) last announced its earnings results on Friday, February 2nd. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.63. Johnson Outdoors had a return on equity of 15.95% and a net margin of 6.10%. The company had revenue of $116.58 million during the quarter, compared to analysts’ expectations of $97.22 million. sell-side analysts anticipate that Johnson Outdoors will post 3.83 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 26th. Shareholders of record on Thursday, April 12th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, April 11th. This represents a $0.48 dividend on an annualized basis and a yield of 0.75%. This is a positive change from Johnson Outdoors’s previous quarterly dividend of $0.10. Johnson Outdoors’s dividend payout ratio (DPR) is currently 15.58%.

A number of hedge funds have recently bought and sold shares of the business. MetLife Investment Advisors LLC acquired a new stake in Johnson Outdoors in the 4th quarter valued at about $157,000. Gotham Asset Management LLC raised its position in Johnson Outdoors by 74.4% in the 4th quarter. Gotham Asset Management LLC now owns 13,885 shares of the company’s stock valued at $862,000 after purchasing an additional 5,923 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in Johnson Outdoors in the 4th quarter valued at about $301,000. Quad Capital Management Advisors LLC acquired a new stake in Johnson Outdoors in the 4th quarter valued at about $373,000. Finally, Millennium Management LLC raised its position in Johnson Outdoors by 8.8% in the 4th quarter. Millennium Management LLC now owns 82,786 shares of the company’s stock valued at $5,140,000 after purchasing an additional 6,716 shares in the last quarter. 62.74% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This news story was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this news story can be read at https://www.dispatchtribunal.com/2018/04/14/zacks-investment-research-lowers-johnson-outdoors-jout-to-hold.html.

Johnson Outdoors Company Profile

Johnson Outdoors Inc designs, manufactures, and markets outdoor equipment, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers battery-powered fishing motors for trolling or primary propulsion, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.

Get a free copy of the Zacks research report on Johnson Outdoors (JOUT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Johnson Outdoors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson Outdoors and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply