Zacks Investment Research lowered shares of Johnson Outdoors (NASDAQ:JOUT) from a strong-buy rating to a hold rating in a report published 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. “
JOUT has been the topic of several other reports. Imperial Capital increased their target price on shares of Johnson Outdoors from $85.00 to $95.00 and gave the stock an outperform rating in a report on Wednesday, June 20th. BidaskClub cut shares of Johnson Outdoors from a sell rating to a strong sell rating in a report on Tuesday. ValuEngine cut shares of Johnson Outdoors from a buy rating to a hold rating in a report on Tuesday, October 2nd. Finally, Sidoti upgraded shares of Johnson Outdoors from a neutral rating to a buy rating in a report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $98.50.
Shares of NASDAQ JOUT remained flat at $$76.03 during mid-day trading on Wednesday. 40,745 shares of the stock were exchanged, compared to its average volume of 37,007. The company has a market capitalization of $936.04 million, a PE ratio of 24.69 and a beta of 0.62. Johnson Outdoors has a 12-month low of $59.13 and a 12-month high of $107.36.
Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings results on Tuesday, August 7th. The company reported $2.37 EPS for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.41. The firm had revenue of $170.78 million for the quarter, compared to analysts’ expectations of $160.86 million. Johnson Outdoors had a net margin of 8.48% and a return on equity of 20.47%. On average, sell-side analysts expect that Johnson Outdoors will post 5.15 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Shareholders of record on Wednesday, October 10th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.74%. This is a boost from Johnson Outdoors’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, October 9th. Johnson Outdoors’s dividend payout ratio is presently 18.18%.
A number of institutional investors have recently modified their holdings of the business. Bank of Montreal Can grew its holdings in Johnson Outdoors by 27.7% during the 3rd quarter. Bank of Montreal Can now owns 28,320 shares of the company’s stock worth $2,634,000 after acquiring an additional 6,141 shares in the last quarter. Northern Trust Corp grew its holdings in Johnson Outdoors by 3.5% during the 2nd quarter. Northern Trust Corp now owns 82,566 shares of the company’s stock worth $6,979,000 after acquiring an additional 2,823 shares in the last quarter. Paloma Partners Management Co bought a new position in Johnson Outdoors during the 2nd quarter worth about $251,000. Macquarie Group Ltd. grew its holdings in Johnson Outdoors by 13.5% during the 2nd quarter. Macquarie Group Ltd. now owns 6,022 shares of the company’s stock worth $509,000 after acquiring an additional 716 shares in the last quarter. Finally, AMP Capital Investors Ltd bought a new position in Johnson Outdoors during the 2nd quarter worth about $248,000. Institutional investors own 62.76% of the company’s stock.
About Johnson Outdoors
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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