Escalade (NASDAQ:ESCA) Downgraded by Wall Street Zen to Buy

by · The Cerbat Gem

Wall Street Zen cut shares of Escalade (NASDAQ:ESCAFree Report) from a strong-buy rating to a buy rating in a report issued on Saturday.

ESCA has been the topic of several other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Escalade in a research note on Wednesday, October 8th. Zacks Research upgraded Escalade from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Escalade presently has an average rating of “Buy”.

Get Our Latest Stock Analysis on Escalade

Escalade Stock Performance

Shares of ESCA stock opened at $13.72 on Friday. The company has a market capitalization of $189.34 million, a price-to-earnings ratio of 15.08 and a beta of 0.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.41 and a current ratio of 3.30. Escalade has a one year low of $11.41 and a one year high of $16.99. The company’s 50-day moving average is $12.93 and its 200 day moving average is $12.76.

Escalade (NASDAQ:ESCAGet Free Report) last issued its earnings results on Thursday, October 30th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.09. Escalade had a net margin of 5.26% and a return on equity of 7.49%. The firm had revenue of $67.79 million for the quarter, compared to the consensus estimate of $58.83 million. Sell-side analysts expect that Escalade will post 0.93 EPS for the current fiscal year.

Escalade Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Monday, January 5th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, January 5th. This represents a $0.60 dividend on an annualized basis and a yield of 4.4%. Escalade’s payout ratio is currently 65.93%.

Insiders Place Their Bets

In related news, CFO Stephen Wawrin sold 2,000 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $13.00, for a total transaction of $26,000.00. Following the completion of the transaction, the chief financial officer directly owned 41,000 shares of the company’s stock, valued at approximately $533,000. This trade represents a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard Fenton Baalmann, Jr. sold 5,490 shares of Escalade stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $13.00, for a total transaction of $71,370.00. Following the completion of the sale, the director owned 100,394 shares in the company, valued at approximately $1,305,122. This represents a 5.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 12,000 shares of company stock valued at $156,100. 28.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Escalade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Escalade in the 2nd quarter worth approximately $29,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Escalade in the second quarter valued at $32,000. Tower Research Capital LLC TRC increased its position in Escalade by 439.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,622 shares of the company’s stock worth $51,000 after purchasing an additional 2,950 shares during the last quarter. Certior Financial Group LLC purchased a new position in shares of Escalade in the 3rd quarter worth $141,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Escalade by 13.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,853 shares of the company’s stock worth $174,000 after buying an additional 1,600 shares during the last quarter. 65.22% of the stock is owned by institutional investors.

About Escalade

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Escalade, Inc is a U.S.-based manufacturer and distributor of recreational equipment and specialty products for both consumer and commercial markets. Headquartered in Evansville, Indiana, the company operates through two principal business segments: Sporting Goods and Commercial Products. The Sporting Goods segment encompasses a diverse range of products such as hockey and lacrosse goal assemblies, fitness accessories, archery and hunting gear, and table tennis equipment. The Commercial Products segment focuses on seating solutions for restaurants, hospitality venues and other public spaces under the Top Seat brand, as well as storage, display products and industrial carts.

Within Sporting Goods, Escalade markets its products under proprietary brands including Bear® Archery, Gene St.

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