Zacks Investment Research downgraded shares of Johnson Outdoors (NASDAQ:JOUT) from a buy rating to a hold rating in a research report report published on Thursday.
According to Zacks, “Johnson Outdoors Inc. is a leading global outdoor recreation company that turns ideas into adventure with innovative, top-quality products. The Company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft, Marine Electronics, Diving and Outdoor Equipment. Johnson Outdoors’ familiar brands include, among others: Old Town canoes and kayaks; Ocean Kayak and Necky kayaks; Lendal paddles; Escape electric boats; Minn Kota motors; Cannon downriggers; Humminbird, Bottom Line and Fishin’ Buddy fishfinders; Scubapro and UWATEC dive equipment; Silva compasses and digital instruments; and Eureka! tents. “
Several other research firms have also recently weighed in on JOUT. Imperial Capital raised their target price on shares of Johnson Outdoors from $70.00 to $75.00 and gave the company an outperform rating in a research note on Wednesday, February 7th. Sidoti assumed coverage on shares of Johnson Outdoors in a research note on Friday, January 19th. They issued a neutral rating for the company. Finally, BidaskClub cut shares of Johnson Outdoors from a buy rating to a hold rating in a research note on Thursday, January 11th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $73.33.
Johnson Outdoors (NASDAQ:JOUT) last released its earnings results on Friday, December 8th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. Johnson Outdoors had a net margin of 6.10% and a return on equity of 15.95%. The business had revenue of $91.76 million during the quarter, compared to analysts’ expectations of $81.97 million. analysts anticipate that Johnson Outdoors will post 3.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Thursday, January 11th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Wednesday, January 10th. Johnson Outdoors’s dividend payout ratio is 12.82%.
In other Johnson Outdoors news, Director Richard Case Sheahan sold 4,434 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $61.65, for a total transaction of $273,356.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP David W. Johnson sold 1,000 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $62.31, for a total value of $62,310.00. The disclosure for this sale can be found here. Company insiders own 18.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. MetLife Investment Advisors LLC acquired a new stake in Johnson Outdoors during the 4th quarter valued at $157,000. Dynamic Technology Lab Private Ltd acquired a new stake in Johnson Outdoors during the 3rd quarter valued at $206,000. Paloma Partners Management Co acquired a new stake in Johnson Outdoors during the 4th quarter valued at $207,000. The Manufacturers Life Insurance Company lifted its holdings in Johnson Outdoors by 11.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,775 shares of the company’s stock valued at $231,000 after purchasing an additional 488 shares during the last quarter. Finally, Cypress Capital Management LLC WY acquired a new stake in Johnson Outdoors during the 3rd quarter valued at $254,000. 60.63% of the stock is owned by institutional investors and hedge funds.
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Johnson Outdoors Company Profile
Johnson Outdoors Inc is a manufacturer and marketer of branded seasonal, outdoor recreation products. The Company operates through four segments: Marine Electronics, Outdoor Equipment, Watercraft and Diving. Its Marine Electronics segment’s brands are Minn Kota, Humminbird and Cannon. Its Outdoor Equipment segment’s brands are Eureka!, Jetboil and Silva.
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