Johnson Outdoors (NASDAQ:JOUT) Share Price Passes Above 200 Day Moving Average – Here’s Why

Johnson Outdoors Inc. (NASDAQ:JOUT)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $38.93 and traded as high as $44.11. Johnson Outdoors shares last traded at $43.49, with a volume of 49,627 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Zacks Research upgraded Johnson Outdoors from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. Wall Street Zen lowered shares of Johnson Outdoors from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Johnson Outdoors in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

Johnson Outdoors Stock Performance

The company has a fifty day simple moving average of $41.31 and a two-hundred day simple moving average of $38.93. The firm has a market capitalization of $452.73 million, a PE ratio of -12.98, a PEG ratio of 2.94 and a beta of 0.91.

Johnson Outdoors (NASDAQ:JOUT) last released its quarterly earnings data on Friday, December 12th. The company reported ($2.83) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($2.15). Johnson Outdoors had a negative net margin of 5.79% and a negative return on equity of 1.92%. The firm had revenue of $135.76 million during the quarter, compared to the consensus estimate of $117.42 million. During the same quarter in the previous year, the firm earned ($3.35) earnings per share. On average, equities analysts anticipate that Johnson Outdoors Inc. will post -0.58 earnings per share for the current fiscal year.

Johnson Outdoors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 22nd. Investors of record on Thursday, January 8th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, January 8th. Johnson Outdoors’s dividend payout ratio (DPR) is presently -39.40%.

Insider Activity

In other news, Director Edward F. Lang sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $43.94, for a total value of $87,880.00. Following the completion of the transaction, the director directly owned 32,171 shares of the company’s stock, valued at approximately $1,413,593.74. The trade was a 5.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 27.98% of the company’s stock.

Hedge Funds Weigh In On Johnson Outdoors

Several institutional investors and hedge funds have recently added to or reduced their stakes in JOUT. Unison Advisors LLC acquired a new position in Johnson Outdoors during the 2nd quarter valued at approximately $207,000. Corient Private Wealth LLC purchased a new stake in shares of Johnson Outdoors during the second quarter valued at $1,528,000. Dean Capital Management increased its position in shares of Johnson Outdoors by 27.1% in the 1st quarter. Dean Capital Management now owns 63,466 shares of the company’s stock valued at $1,576,000 after acquiring an additional 13,524 shares during the period. Russell Investments Group Ltd. raised its stake in Johnson Outdoors by 28.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 182,574 shares of the company’s stock worth $5,527,000 after acquiring an additional 40,308 shares during the last quarter. Finally, Aristides Capital LLC lifted its position in Johnson Outdoors by 214.3% during the 2nd quarter. Aristides Capital LLC now owns 31,361 shares of the company’s stock worth $949,000 after acquiring an additional 21,383 shares during the period. Hedge funds and other institutional investors own 64.05% of the company’s stock.

Johnson Outdoors Company Profile

Johnson Outdoors Inc is a diversified outdoor recreation company that develops, manufactures and markets a broad range of gear and equipment for marine and land-based activities. The company operates through two primary segments: the Marine Electronics & Boat Group and the Outdoor Products Group. Its marine offerings include electric motors and anchors under the Minn Kota® brand, fish-finding and sonar systems under the Humminbird® brand, and a lineup of recreational watercraft under the Old Town® and Ocean Kayak® names.