BidaskClub Downgrades Johnson Outdoors (NASDAQ:JOUT) to Strong Sell

Johnson Outdoors (NASDAQ:JOUT) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday, BidAskClub reports.

JOUT has been the subject of several other reports. ValuEngine raised shares of USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Imperial Capital lifted their price objective on shares of PARKER DRILLING/SH PAR $ from $20.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $94.00.

NASDAQ:JOUT opened at $74.39 on Friday. The stock has a fifty day simple moving average of $76.65. The firm has a market capitalization of $747.55 million, a P/E ratio of 16.87 and a beta of 0.97. Johnson Outdoors has a 52 week low of $54.66 and a 52 week high of $107.36.

Johnson Outdoors (NASDAQ:JOUT) last released its quarterly earnings data on Friday, May 3rd. The company reported $2.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.32. The business had revenue of $177.71 million during the quarter, compared to analysts’ expectations of $171.80 million. Johnson Outdoors had a net margin of 8.13% and a return on equity of 15.51%. As a group, analysts forecast that Johnson Outdoors will post 4.76 earnings per share for the current year.

In other news, CFO David W. Johnson sold 1,000 shares of Johnson Outdoors stock in a transaction on Friday, May 10th. The shares were sold at an average price of $82.07, for a total transaction of $82,070.00. Following the completion of the sale, the chief financial officer now directly owns 14,958 shares of the company’s stock, valued at approximately $1,227,603.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 18.60% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA lifted its position in Johnson Outdoors by 3,187.1% in the first quarter. BNP Paribas Arbitrage SA now owns 1,019 shares of the company’s stock valued at $73,000 after acquiring an additional 988 shares during the last quarter. Citigroup Inc. lifted its position in Johnson Outdoors by 16.4% in the fourth quarter. Citigroup Inc. now owns 1,558 shares of the company’s stock valued at $92,000 after acquiring an additional 220 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in Johnson Outdoors by 337.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 1,790 shares of the company’s stock valued at $105,000 after acquiring an additional 1,381 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in Johnson Outdoors in the fourth quarter valued at $236,000. Finally, Public Employees Retirement System of Ohio lifted its position in Johnson Outdoors by 4.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 4,963 shares of the company’s stock valued at $292,000 after acquiring an additional 212 shares during the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

About Johnson Outdoors

Johnson Outdoors Inc designs, manufactures, and markets camping, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers electric 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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