Johnson Outdoors (NASDAQ:JOUT) Upgraded to Strong-Buy at Zacks Investment Research

Johnson Outdoors (NASDAQ:JOUT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday, March 21st. The brokerage currently has a $75.00 price objective on the stock. Zacks Investment Research‘s price target points to a potential upside of 13.09% from the stock’s current price.

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. “

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JOUT has been the topic of several other reports. BidaskClub lowered shares of Johnson Outdoors from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Imperial Capital raised their price objective on shares of Johnson Outdoors from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Finally, Sidoti began coverage on shares of Johnson Outdoors in a research report on Friday, January 19th. They set a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Johnson Outdoors has an average rating of “Hold” and a consensus target price of $74.00.



Shares of JOUT traded up $2.39 during midday trading on Wednesday, reaching $66.32. The stock had a trading volume of 20,627 shares, compared to its average volume of 37,875. Johnson Outdoors has a 1-year low of $33.03 and a 1-year high of $76.18. The firm has a market capitalization of $638.92, a price-to-earnings ratio of 17.00 and a beta of 0.53.

Johnson Outdoors (NASDAQ:JOUT) last announced its quarterly earnings results on Friday, February 2nd. The company reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.63. Johnson Outdoors had a net margin of 6.10% and a return on equity of 15.95%. The firm had revenue of $116.58 million for the quarter, compared to analyst estimates of $97.22 million. equities research analysts expect that Johnson Outdoors will post 3.83 EPS for the current year.

Several large investors have recently modified their holdings of JOUT. MetLife Investment Advisors LLC purchased a new stake in shares of Johnson Outdoors in the fourth quarter valued at about $157,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Johnson Outdoors in the third quarter valued at about $206,000. Paloma Partners Management Co purchased a new stake in shares of Johnson Outdoors in the fourth quarter valued at about $207,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Johnson Outdoors by 11.4% in the second quarter. The Manufacturers Life Insurance Company now owns 4,775 shares of the company’s stock valued at $231,000 after acquiring an additional 488 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Johnson Outdoors by 38.4% in the fourth quarter. Bank of Montreal Can now owns 4,521 shares of the company’s stock valued at $281,000 after acquiring an additional 1,255 shares in the last quarter. 62.74% of the stock is currently owned by institutional investors and hedge funds.

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Johnson Outdoors Company Profile

Johnson Outdoors Inc designs, manufactures, and markets outdoor equipment, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers battery-powered fishing motors for trolling or primary propulsion, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.

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