Johnson Outdoors (NASDAQ:JOUT) Stock Crosses Above 200 Day Moving Average – Time to Sell?
by Teresa Graham · The Cerbat GemJohnson Outdoors Inc. (NASDAQ:JOUT – Get Free Report)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $40.24 and traded as high as $46.76. Johnson Outdoors shares last traded at $45.66, with a volume of 25,114 shares traded.
Analysts Set New Price Targets
JOUT has been the subject of several research analyst reports. Wall Street Zen lowered shares of Johnson Outdoors from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Johnson Outdoors in a research report on Monday, December 29th. Finally, Zacks Research upgraded Johnson Outdoors from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.
Read Our Latest Research Report on JOUT
Johnson Outdoors Trading Down 2.1%
The company has a market cap of $475.32 million, a PE ratio of -13.63, a P/E/G ratio of 3.11 and a beta of 0.91. The firm has a 50 day moving average of $42.71 and a two-hundred day moving average of $40.29.
Johnson Outdoors (NASDAQ:JOUT – Get Free Report) last announced its quarterly earnings data on Friday, December 12th. The company reported ($2.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($2.15). Johnson Outdoors had a negative net margin of 5.79% and a negative return on equity of 1.92%. The company had revenue of $135.76 million for the quarter, compared to analysts’ expectations of $117.42 million. During the same quarter in the previous year, the firm posted ($3.35) EPS. On average, research analysts forecast that Johnson Outdoors Inc. will post -0.58 EPS for the current year.
Johnson Outdoors Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, January 22nd. Shareholders of record on Thursday, January 8th were issued a $0.33 dividend. The ex-dividend date of this dividend was Thursday, January 8th. This represents a $1.32 annualized dividend and a yield of 2.9%. Johnson Outdoors’s payout ratio is -39.40%.
Insider Activity
In other news, Director Edward F. Lang sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $43.94, for a total transaction of $87,880.00. Following the sale, the director owned 32,171 shares in the company, valued at $1,413,593.74. This represents a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 28.21% of the company’s stock.
Hedge Funds Weigh In On Johnson Outdoors
Several hedge funds and other institutional investors have recently added to or reduced their stakes in JOUT. Rhumbline Advisers grew its position in shares of Johnson Outdoors by 3.7% during the second quarter. Rhumbline Advisers now owns 8,066 shares of the company’s stock worth $244,000 after purchasing an additional 289 shares in the last quarter. CWM LLC boosted its stake in Johnson Outdoors by 9.8% in the 3rd quarter. CWM LLC now owns 4,454 shares of the company’s stock worth $180,000 after purchasing an additional 398 shares during the period. Sei Investments Co. boosted its stake in Johnson Outdoors by 5.8% in the 2nd quarter. Sei Investments Co. now owns 11,409 shares of the company’s stock worth $345,000 after purchasing an additional 622 shares during the period. PNC Financial Services Group Inc. grew its holdings in Johnson Outdoors by 1,175.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 893 shares of the company’s stock valued at $27,000 after buying an additional 823 shares in the last quarter. Finally, Gabelli Funds LLC raised its position in shares of Johnson Outdoors by 4.5% during the third quarter. Gabelli Funds LLC now owns 23,036 shares of the company’s stock valued at $930,000 after buying an additional 1,000 shares during the last quarter. 64.05% of the stock is owned by institutional investors.
Johnson Outdoors Company Profile
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.