Johnson Outdoors (NASDAQ:JOUT) Lowered to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Johnson Outdoors (NASDAQ:JOUT) from a hold rating to a strong sell rating in a report issued on Wednesday,Zacks.com reports.

Separately, Wall Street Zen upgraded shares of Johnson Outdoors from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Johnson Outdoors Stock Performance

NASDAQ JOUT opened at $41.38 on Wednesday. Johnson Outdoors has a one year low of $21.33 and a one year high of $42.88. The company’s 50 day moving average price is $39.38 and its 200 day moving average price is $31.29. The firm has a market capitalization of $429.19 million, a price-to-earnings ratio of -10.69, a PEG ratio of 2.79 and a beta of 0.85.

Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.51. The company had revenue of $180.66 million for the quarter, compared to analyst estimates of $172.98 million. Johnson Outdoors had a negative net margin of 7.02% and a negative return on equity of 8.80%. Sell-side analysts forecast that Johnson Outdoors will post -0.58 EPS for the current fiscal year.

Johnson Outdoors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, October 10th. Johnson Outdoors’s payout ratio is currently -34.11%.

Hedge Funds Weigh In On Johnson Outdoors

A number of hedge funds have recently added to or reduced their stakes in JOUT. PNC Financial Services Group Inc. boosted its holdings in Johnson Outdoors by 1,175.7% in the second quarter. PNC Financial Services Group Inc. now owns 893 shares of the company’s stock worth $27,000 after purchasing an additional 823 shares during the period. CWM LLC boosted its holdings in Johnson Outdoors by 49.0% in the first quarter. CWM LLC now owns 1,575 shares of the company’s stock worth $39,000 after purchasing an additional 518 shares during the period. Raymond James Financial Inc. acquired a new position in Johnson Outdoors in the second quarter worth $52,000. GAMMA Investing LLC boosted its holdings in Johnson Outdoors by 5,310.7% in the first quarter. GAMMA Investing LLC now owns 3,030 shares of the company’s stock worth $75,000 after purchasing an additional 2,974 shares during the period. Finally, AlphaQuest LLC acquired a new position in shares of Johnson Outdoors during the second quarter valued at $120,000. Institutional investors and hedge funds own 64.05% of the company’s stock.

About Johnson Outdoors

Johnson Outdoors Inc designs, manufactures, and markets seasonal and outdoor recreational products for fishing worldwide. It operates through four segments: Fishing, Camping, Watercraft Recreation, and Diving. The Fishing segment offers electric motors for trolling, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.