Prudential Financial Inc. raised its stake in Johnson Outdoors Inc. (NASDAQ:JOUT) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,384 shares of the company’s stock after purchasing an additional 373 shares during the quarter. Prudential Financial Inc. owned approximately 0.74% of Johnson Outdoors worth $5,547,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. BNP Paribas Arbitrage SA raised its holdings in Johnson Outdoors by 3,187.1% in the 1st 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 in the last quarter. Systematic Financial Management LP acquired a new position in Johnson Outdoors in the 2nd quarter valued at $75,000. Meeder Asset Management Inc. raised its holdings in Johnson Outdoors by 5,894.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company’s stock valued at $85,000 after acquiring an additional 1,120 shares in the last quarter. Aperio Group LLC acquired a new position in Johnson Outdoors in the 2nd quarter valued at $102,000. Finally, Envestnet Asset Management Inc. raised its holdings in Johnson Outdoors by 8.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,804 shares of the company’s stock valued at $284,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 63.47% of the company’s stock.
Several equities analysts have weighed in on the company. Zacks Investment Research cut Johnson Outdoors from a “hold” rating to a “sell” rating in a report on Friday, August 9th. ValuEngine cut Johnson Outdoors from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. BidaskClub raised Johnson Outdoors from a “strong sell” rating to a “sell” rating in a report on Friday. Sidoti cut Johnson Outdoors from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $102.00 to $80.00 in a report on Monday, July 15th. Finally, Imperial Capital lowered their price target on Johnson Outdoors from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $79.00.
Shares of Johnson Outdoors stock traded down $0.69 during trading on Friday, reaching $61.01. 637 shares of the company’s stock were exchanged, compared to its average volume of 54,353. Johnson Outdoors Inc. has a 1-year low of $54.12 and a 1-year high of $104.88. The company has a market cap of $623.45 million, a P/E ratio of 12.99 and a beta of 0.94. The firm’s 50-day moving average price is $59.93 and its 200 day moving average price is $70.62.
Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings results on Friday, August 2nd. The company reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.13). Johnson Outdoors had a return on equity of 14.40% and a net margin of 7.74%. The business had revenue of $176.25 million for the quarter, compared to analyst estimates of $176.30 million. As a group, sell-side analysts anticipate that Johnson Outdoors Inc. will post 4.53 EPS for the current fiscal year.
Johnson Outdoors Profile
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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