Escalade (NASDAQ:ESCA) Cut to Hold at Zacks Research

Zacks Research lowered shares of Escalade (NASDAQ:ESCA) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

ESCA has been the topic of several other reports. Wall Street Zen upgraded Escalade from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Escalade in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Escalade Stock Up 1.1%

Shares of NASDAQ:ESCA opened at $14.26 on Tuesday. The stock has a market cap of $196.79 million, a P/E ratio of 15.67 and a beta of 0.69. The firm has a fifty day moving average price of $13.43 and a 200 day moving average price of $12.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.30 and a quick ratio of 1.41. Escalade has a 1-year low of $11.41 and a 1-year high of $16.99.

Escalade (NASDAQ:ESCA) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. Escalade had a net margin of 5.26% and a return on equity of 7.49%. The company had revenue of $67.79 million for the quarter, compared to analyst estimates of $58.83 million. Sell-side analysts predict that Escalade will post 0.93 EPS for the current year.

Insider Buying and Selling

In other Escalade news, Director Richard Fenton Baalmann, Jr. sold 5,490 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $13.00, for a total value of $71,370.00. Following the completion of the sale, the director owned 100,394 shares of the company’s stock, valued at approximately $1,305,122. This trade represents a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen Wawrin sold 2,000 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $13.00, for a total transaction of $26,000.00. Following the sale, the chief financial officer owned 41,000 shares in the company, valued at $533,000. The trade was a 4.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 12,000 shares of company stock worth $156,100. Company insiders own 28.75% of the company’s stock.

Institutional Trading of Escalade

A number of institutional investors have recently added to or reduced their stakes in ESCA. Raymond James Financial Inc. acquired a new position in Escalade during the second quarter worth about $29,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Escalade in the 2nd quarter worth approximately $32,000. Tower Research Capital LLC TRC grew its holdings in shares of Escalade by 439.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,622 shares of the company’s stock worth $51,000 after acquiring an additional 2,950 shares during the period. Certior Financial Group LLC purchased a new position in Escalade in the 3rd quarter valued at approximately $141,000. Finally, JPMorgan Chase & Co. raised its holdings in Escalade by 13.1% during the third quarter. JPMorgan Chase & Co. now owns 13,853 shares of the company’s stock worth $174,000 after purchasing an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

About Escalade

Escalade, Inc is a U.S.-based manufacturer and distributor of recreational equipment and specialty products for both consumer and commercial markets. Headquartered in Evansville, Indiana, the company operates through two principal business segments: Sporting Goods and Commercial Products. The Sporting Goods segment encompasses a diverse range of products such as hockey and lacrosse goal assemblies, fitness accessories, archery and hunting gear, and table tennis equipment. The Commercial Products segment focuses on seating solutions for restaurants, hospitality venues and other public spaces under the Top Seat brand, as well as storage, display products and industrial carts.

Within Sporting Goods, Escalade markets its products under proprietary brands including Bear® Archery, Gene St.