Escalade (NASDAQ:ESCA) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Escalade, Incorporated (NASDAQ:ESCA)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.04 and traded as high as $18.77. Escalade shares last traded at $18.5420, with a volume of 59,889 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ESCA. Weiss Ratings restated a “hold (c+)” rating on shares of Escalade in a research report on Friday, June 12th. Zacks Research cut Escalade from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised Escalade from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Escalade Trading Down 0.6%

The firm has a market capitalization of $256.07 million, a P/E ratio of 16.56 and a beta of 0.58. The business has a 50 day moving average of $18.51 and a 200-day moving average of $16.04.

Escalade (NASDAQ:ESCA) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.14. Escalade had a net margin of 6.43% and a return on equity of 8.97%. The firm had revenue of $55.79 million for the quarter, compared to analyst estimates of $53.80 million. On average, analysts anticipate that Escalade, Incorporated will post 1.08 EPS for the current fiscal year.

Escalade Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Monday, July 6th will be given a $0.1525 dividend. This represents a $0.61 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, July 6th. Escalade’s payout ratio is currently 54.46%.

Hedge Funds Weigh In On Escalade

Large investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Escalade in the second quarter valued at about $29,000. Tower Research Capital LLC TRC grew its holdings in shares of Escalade by 439.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,622 shares of the company’s stock worth $51,000 after buying an additional 2,950 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Escalade by 13.9% during the first quarter. Bank of America Corp DE now owns 10,442 shares of the company’s stock worth $179,000 after buying an additional 1,271 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Escalade by 7.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 11,845 shares of the company’s stock valued at $160,000 after buying an additional 779 shares during the last quarter. Finally, Certior Financial Group LLC raised its position in Escalade by 10.2% in the 4th quarter. Certior Financial Group LLC now owns 12,351 shares of the company’s stock valued at $167,000 after buying an additional 1,143 shares during the last quarter. Institutional investors own 65.22% of the company’s stock.

About Escalade

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.