Johnson Outdoors (NASDAQ:JOUT) Reaches New 52-Week High – Here’s Why

Shares of Johnson Outdoors Inc. (NASDAQ:JOUT) hit a new 52-week high during trading on Friday . The company traded as high as $51.93 and last traded at $51.17, with a volume of 178811 shares. The stock had previously closed at $49.52.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on JOUT shares. Weiss Ratings reissued a “sell (d)” rating on shares of Johnson Outdoors in a research report on Monday, December 29th. Zacks Research raised Johnson Outdoors from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Wall Street Zen lowered Johnson Outdoors from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 15th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Johnson Outdoors presently has an average rating of “Moderate Buy”.

Johnson Outdoors Price Performance

The firm has a 50-day simple moving average of $47.65 and a 200 day simple moving average of $44.09. The firm has a market cap of $537.36 million, a PE ratio of -23.57, a price-to-earnings-growth ratio of 3.21 and a beta of 0.82.

Johnson Outdoors (NASDAQ:JOUT) last released its quarterly earnings data on Friday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.12. Johnson Outdoors had a positive return on equity of 0.83% and a negative net margin of 3.56%.The business had revenue of $140.94 million for the quarter, compared to the consensus estimate of $123.95 million. Sell-side analysts forecast that Johnson Outdoors Inc. will post -0.58 earnings per share for the current fiscal year.

Johnson Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, April 16th. This represents a $1.32 dividend on an annualized basis and a yield of 2.6%. Johnson Outdoors’s payout ratio is presently -60.27%.

Insider Transactions at Johnson Outdoors

In other Johnson Outdoors news, Director Richard Casey Sheahan sold 7,580 shares of Johnson Outdoors stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $49.77, for a total value of $377,256.60. Following the sale, the director owned 5,739 shares of the company’s stock, valued at $285,630.03. The trade was a 56.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 28.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Johnson Outdoors

Several large investors have recently modified their holdings of the stock. Empowered Funds LLC increased its position in shares of Johnson Outdoors by 22.9% during the 4th quarter. Empowered Funds LLC now owns 41,198 shares of the company’s stock valued at $1,749,000 after purchasing an additional 7,668 shares during the last quarter. Bridgeway Capital Management LLC increased its position in shares of Johnson Outdoors by 92.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 68,157 shares of the company’s stock valued at $2,893,000 after purchasing an additional 32,668 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Johnson Outdoors by 74.4% during the 4th quarter. AQR Capital Management LLC now owns 100,125 shares of the company’s stock valued at $4,250,000 after purchasing an additional 42,715 shares during the last quarter. Trexquant Investment LP increased its position in shares of Johnson Outdoors by 6.4% during the 4th quarter. Trexquant Investment LP now owns 21,520 shares of the company’s stock valued at $914,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of Johnson Outdoors by 23.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,769 shares of the company’s stock valued at $330,000 after purchasing an additional 1,480 shares during the last quarter. 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.