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

Johnson Outdoors Inc. (NASDAQ:JOUT)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $43.46 and traded as high as $47.52. Johnson Outdoors shares last traded at $47.22, with a volume of 56,082 shares traded.

Wall Street Analysts Forecast Growth

JOUT has been the subject of several analyst reports. Wall Street Zen cut Johnson Outdoors from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Johnson Outdoors in a report on Monday, December 29th. Finally, Zacks Research raised shares of Johnson Outdoors from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Johnson Outdoors Stock Up 2.7%

The business has a 50-day simple moving average of $46.94 and a 200-day simple moving average of $43.46. The company has a market cap of $491.56 million, a PE ratio of -21.56, a price-to-earnings-growth ratio of 2.85 and a beta of 0.88.

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

Johnson Outdoors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, April 16th. Johnson Outdoors’s payout ratio is currently -60.27%.

Insider Transactions at Johnson Outdoors

In other news, Director Richard Casey Sheahan sold 7,580 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $49.77, for a total transaction of $377,256.60. Following the sale, the director owned 5,739 shares of the company’s stock, valued at approximately $285,630.03. This represents a 56.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in JOUT. AQR Capital Management LLC boosted its position in Johnson Outdoors by 127.5% in the 1st quarter. AQR Capital Management LLC now owns 33,515 shares of the company’s stock valued at $833,000 after buying an additional 18,782 shares during the period. Empowered Funds LLC increased its position in shares of Johnson Outdoors by 7.6% during the first quarter. Empowered Funds LLC now owns 20,782 shares of the company’s stock worth $516,000 after acquiring an additional 1,468 shares during the period. Acadian Asset Management LLC increased its position in shares of Johnson Outdoors by 17.3% during the first quarter. Acadian Asset Management LLC now owns 15,106 shares of the company’s stock worth $374,000 after acquiring an additional 2,230 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Johnson Outdoors by 1,175.7% in the second quarter. PNC Financial Services Group Inc. now owns 893 shares of the company’s stock valued at $27,000 after acquiring an additional 823 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Johnson Outdoors by 2.6% in the second quarter. Geode Capital Management LLC now owns 135,841 shares of the company’s stock valued at $4,113,000 after purchasing an additional 3,408 shares during the period. Institutional investors and hedge funds own 64.05% of the company’s stock.

About Johnson Outdoors

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.