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. “
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.
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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.
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