Johnson Outdoors (NASDAQ:JOUT) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Johnson Outdoors Inc. (NASDAQ:JOUT) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $35.46 and traded as high as $38.38. Johnson Outdoors shares last traded at $37.91, with a volume of 36,270 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on JOUT shares. Zacks Research upgraded Johnson Outdoors from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of Johnson Outdoors from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 18th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Johnson Outdoors in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce”.

Johnson Outdoors Trading Up 1.1%

The company has a market capitalization of $393.20 million, a P/E ratio of -9.80, a P/E/G ratio of 2.90 and a beta of 0.89. The company has a 50 day moving average price of $40.87 and a 200 day moving average price of $35.46.

Johnson Outdoors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 10th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Friday, October 10th. Johnson Outdoors’s payout ratio is -34.11%.

Institutional Trading of Johnson Outdoors

A number of hedge funds have recently modified their holdings of the stock. Divisadero Street Capital Management LP bought a new stake in shares of Johnson Outdoors during the third quarter worth approximately $7,676,000. CSM Advisors LLC bought a new position in shares of Johnson Outdoors during the second quarter worth approximately $2,020,000. Allspring Global Investments Holdings LLC lifted its holdings in Johnson Outdoors by 158.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 100,913 shares of the company’s stock worth $4,142,000 after purchasing an additional 61,934 shares during the last quarter. Aristides Capital LLC boosted its stake in Johnson Outdoors by 188.4% in the 3rd quarter. Aristides Capital LLC now owns 90,440 shares of the company’s stock valued at $3,653,000 after purchasing an additional 59,079 shares during the period. Finally, Corient Private Wealth LLC acquired a new position in Johnson Outdoors in the 2nd quarter valued at $1,528,000. Institutional investors and hedge funds 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.