Escalade (NASDAQ:ESCA) Raised to Buy at Zacks Investment Research

Escalade (NASDAQ:ESCAGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Zacks.com reports. The firm currently has a $15.00 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 8.38% from the company’s previous close.

According to Zacks, “Escalade, Incorporated is a diversified company engaged in the manufacture and sale of sporting goods products and office and graphic arts products. The company offers a broad and complete product selection that is built on innovation and cutting edge product design. These diverse products include table tennis tables and equipment; pool tables and equipment; other game tables which include table soccer, table hockey, and multi games; basketball systems; and archery Equipment. “

Several other equities analysts also recently issued reports on the company. StockNews.com assumed coverage on Escalade in a research report on Thursday, March 31st. They set a “hold” rating for the company. TheStreet downgraded Escalade from a “b-” rating to a “c+” rating in a research report on Wednesday, March 2nd.

NASDAQ:ESCA traded up $0.45 during mid-day trading on Monday, reaching $13.84. The stock had a trading volume of 39,649 shares, compared to its average volume of 30,601. The company has a market capitalization of $188.02 million, a price-to-earnings ratio of 7.44 and a beta of 1.34. Escalade has a 1-year low of $12.50 and a 1-year high of $25.72. The stock’s 50 day simple moving average is $13.42 and its two-hundred day simple moving average is $15.62. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.58 and a quick ratio of 1.63.

Escalade (NASDAQ:ESCAGet Rating) last issued its earnings results on Thursday, April 14th. The company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.21. Escalade had a return on equity of 17.42% and a net margin of 7.84%. During the same period in the prior year, the company earned $0.39 earnings per share. Sell-side analysts anticipate that Escalade will post 1.84 EPS for the current fiscal year.

In other news, CEO Walter P. Jr. Glazer bought 3,312 shares of the company’s stock in a transaction that occurred on Friday, March 4th. The shares were purchased at an average price of $13.13 per share, with a total value of $43,486.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 20.45% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. North Star Investment Management Corp. raised its holdings in Escalade by 1.7% during the fourth quarter. North Star Investment Management Corp. now owns 539,883 shares of the company’s stock worth $8,525,000 after purchasing an additional 8,832 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Escalade by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 466,632 shares of the company’s stock valued at $8,825,000 after buying an additional 5,753 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Escalade in the third quarter valued at $2,473,000. Renaissance Technologies LLC increased its holdings in shares of Escalade by 33.3% in the third quarter. Renaissance Technologies LLC now owns 56,030 shares of the company’s stock valued at $1,060,000 after buying an additional 14,000 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Escalade by 795.3% in the second quarter. Morgan Stanley now owns 30,333 shares of the company’s stock valued at $696,000 after buying an additional 26,945 shares in the last quarter. 28.10% of the stock is currently owned by hedge funds and other institutional investors.

Escalade Company Profile (Get Rating)

Escalade, Incorporated, together with its subsidiaries, manufactures, distributes, imports, and sells sporting goods in North America, Europe, and internationally. The company provides various sporting goods brands in basketball goals, archery, indoor and outdoor game recreation, and fitness products.

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