ValuEngine Lowers Johnson Outdoors (NASDAQ:JOUT) to Sell

ValuEngine downgraded shares of Johnson Outdoors (NASDAQ:JOUT) from a hold rating to a sell rating in a report issued on Monday, ValuEngine reports.

A number of other analysts have also recently issued reports on the company. Zacks Investment Research upgraded Johnson Outdoors from a hold rating to a buy rating and set a $73.00 target price for the company in a report on Thursday, April 30th. BidaskClub upgraded Johnson Outdoors from a buy rating to a strong-buy rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Johnson Outdoors currently has an average rating of Hold and an average target price of $81.00.

Shares of NASDAQ:JOUT opened at $88.81 on Monday. Johnson Outdoors has a 1 year low of $48.76 and a 1 year high of $94.26. The stock has a market capitalization of $895.38 million, a P/E ratio of 16.95 and a beta of 0.92. The stock has a 50-day simple moving average of $84.41 and a 200-day simple moving average of $71.57.

Johnson Outdoors (NASDAQ:JOUT) last issued its earnings results on Tuesday, May 5th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.42. Johnson Outdoors had a return on equity of 15.94% and a net margin of 9.24%. The business had revenue of $163.08 million during the quarter, compared to analysts’ expectations of $180.46 million.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 9th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.77%. The ex-dividend date is Wednesday, July 8th.

Institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can acquired a new position in Johnson Outdoors during the 4th quarter worth approximately $35,000. Point72 Hong Kong Ltd acquired a new position in Johnson Outdoors during the 4th quarter worth approximately $64,000. Marshall Wace North America L.P. acquired a new position in Johnson Outdoors during the 4th quarter worth approximately $91,000. BNP Paribas Arbitrage SA raised its position in shares of Johnson Outdoors by 72.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,585 shares of the company’s stock valued at $99,000 after purchasing an additional 668 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Johnson Outdoors by 18.6% in the 1st quarter. SG Americas Securities LLC now owns 1,884 shares of the company’s stock valued at $118,000 after purchasing an additional 296 shares in the last quarter. 64.06% of the stock is currently owned by hedge funds and other institutional investors.

Johnson Outdoors Company Profile

Johnson Outdoors Inc designs, manufactures, and markets camping, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers electric 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.

Further Reading: Oversold

To view ValuEngine’s full report, visit ValuEngine’s official website.

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