Wall Street Zen Downgrades Johnson Outdoors (NASDAQ:JOUT) to Buy

Johnson Outdoors (NASDAQ:JOUT) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Several other equities research analysts also recently weighed in on JOUT. Weiss Ratings reiterated a “sell (d+)” rating on shares of Johnson Outdoors in a research note on Wednesday, October 8th. Zacks Research raised Johnson Outdoors from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce”.

Johnson Outdoors Trading Up 0.1%

Shares of JOUT opened at $40.96 on Friday. The company’s 50 day simple moving average is $40.71 and its 200-day simple moving average is $36.58. The firm has a market cap of $424.76 million, a PE ratio of -10.58, a price-to-earnings-growth ratio of 2.78 and a beta of 0.99. Johnson Outdoors has a 12-month low of $21.33 and a 12-month high of $44.44.

Institutional Trading of Johnson Outdoors

Institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in Johnson Outdoors by 1,175.7% during the second quarter. PNC Financial Services Group Inc. now owns 893 shares of the company’s stock worth $27,000 after acquiring an additional 823 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Johnson Outdoors during the 2nd quarter worth $52,000. AlphaQuest LLC acquired a new position in shares of Johnson Outdoors during the 2nd quarter worth $120,000. CWM LLC grew its stake in shares of Johnson Outdoors by 157.5% during the 2nd quarter. CWM LLC now owns 4,056 shares of the company’s stock worth $123,000 after purchasing an additional 2,481 shares during the period. Finally, Strs Ohio purchased a new position in shares of Johnson Outdoors in the 3rd quarter valued at about $145,000. 64.05% of the stock is currently owned by hedge funds and other institutional investors.

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.