Johnson Outdoors (NASDAQ:JOUT) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Johnson Outdoors (NASDAQ:JOUT) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Separately, Wall Street Zen raised Johnson Outdoors from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Johnson Outdoors Price Performance

JOUT opened at $41.76 on Wednesday. The firm has a market capitalization of $433.05 million, a P/E ratio of -10.79, a price-to-earnings-growth ratio of 2.82 and a beta of 0.85. Johnson Outdoors has a one year low of $21.33 and a one year high of $42.88. The company has a fifty day moving average price of $39.55 and a 200-day moving average price of $31.41.

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

Johnson Outdoors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, October 10th. Johnson Outdoors’s dividend payout ratio (DPR) is presently -34.11%.

Institutional Trading of Johnson Outdoors

A number of institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its holdings 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 valued at $27,000 after buying an additional 823 shares during the last quarter. CWM LLC increased its position in shares of Johnson Outdoors by 49.0% in the first quarter. CWM LLC now owns 1,575 shares of the company’s stock valued at $39,000 after acquiring an additional 518 shares during the period. Raymond James Financial Inc. bought a new position in shares of Johnson Outdoors during the second quarter valued at about $52,000. GAMMA Investing LLC boosted its holdings in shares of Johnson Outdoors by 5,310.7% during the first quarter. GAMMA Investing LLC now owns 3,030 shares of the company’s stock worth $75,000 after purchasing an additional 2,974 shares during the period. Finally, AlphaQuest LLC bought a new stake in shares of Johnson Outdoors in the second quarter worth about $120,000. Hedge funds and other institutional investors own 64.05% of the company’s stock.

Johnson Outdoors Company Profile

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.