Johnson Outdoors (NASDAQ:JOUT) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Johnson Outdoors Inc. (NASDAQ:JOUT) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $30.39 and traded as high as $41.97. Johnson Outdoors shares last traded at $40.87, with a volume of 69,927 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Johnson Outdoors from a “hold” rating to a “buy” rating in a report on Saturday, August 9th.

Johnson Outdoors Stock Down 2.6%

The company has a market cap of $423.82 million, a P/E ratio of -10.56 and a beta of 0.85. The stock’s 50-day moving average price is $37.79 and its 200 day moving average price is $30.39.

Johnson Outdoors (NASDAQ:JOUT) last released its quarterly earnings results on Friday, August 1st. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.51. Johnson Outdoors had a negative net margin of 7.02% and a negative return on equity of 8.80%. The company had revenue of $180.66 million for the quarter, compared to analyst estimates of $172.98 million. Analysts expect that Johnson Outdoors Inc. will post -0.58 earnings per share for the current fiscal year.

Johnson Outdoors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.32 dividend on an annualized basis and a yield of 3.2%. Johnson Outdoors’s payout ratio is -34.11%.

Hedge Funds Weigh In On Johnson Outdoors

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers increased its position in Johnson Outdoors by 3.7% during the second quarter. Rhumbline Advisers now owns 8,066 shares of the company’s stock worth $244,000 after acquiring an additional 289 shares during the period. CWM LLC lifted its position in Johnson Outdoors by 49.0% during the 1st quarter. CWM LLC now owns 1,575 shares of the company’s stock worth $39,000 after buying an additional 518 shares in the last quarter. Sei Investments Co. lifted its position in Johnson Outdoors by 5.8% during the 2nd quarter. Sei Investments Co. now owns 11,409 shares of the company’s stock worth $345,000 after buying an additional 622 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Johnson Outdoors by 1,175.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 893 shares of the company’s stock worth $27,000 after buying an additional 823 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Johnson Outdoors by 2.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 56,022 shares of the company’s stock worth $1,696,000 after buying an additional 1,190 shares in the last quarter. Institutional investors own 64.05% of the company’s stock.

About Johnson Outdoors

Johnson Outdoors Inc designs, manufactures, and markets seasonal and outdoor recreational products for fishing worldwide. It operates through four segments: Fishing, Camping, Watercraft Recreation, and Diving. The Fishing segment offers electric motors for trolling, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.