Zacks Investment Research Upgrades Escalade, Incorporated (ESCA) to “Hold”
Escalade, Incorporated (NASDAQ:ESCA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Escalade, Incorporated is a diversified company engaged in the manufacture and sale of sporting goods products and office and graphic arts products. The company offers a broad and complete product selection that is built on innovation and cutting edge product design. These diverse products include table tennis tables and equipment; pool tables and equipment; other game tables which include table soccer, table hockey, and multi games; basketball systems; and archery Equipment. “
A number of other brokerages also recently issued reports on ESCA. ValuEngine raised Escalade, from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. Aegis restated a “buy” rating and issued a $16.00 price objective on shares of Escalade, in a research report on Monday, September 25th. Finally, TheStreet raised shares of Escalade, from a “c+” rating to a “b” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $16.00.
Escalade, (ESCA) traded down 1.81% on Tuesday, hitting $13.60. 15,425 shares of the company were exchanged. The firm’s 50 day moving average is $12.53 and its 200 day moving average is $12.61. The company has a market capitalization of $195.35 million, a P/E ratio of 17.46 and a beta of 0.12. Escalade, has a 52 week low of $11.30 and a 52 week high of $14.70.
Escalade, (NASDAQ:ESCA) last issued its earnings results on Monday, July 31st. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). The company had revenue of $52.39 million during the quarter, compared to analysts’ expectations of $45.60 million. Escalade, had a return on equity of 10.95% and a net margin of 6.67%. On average, equities research analysts forecast that Escalade, will post $0.73 earnings per share for the current fiscal year.
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In other Escalade, news, CEO David L. Fetherman sold 9,250 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $12.11, for a total value of $112,017.50. Following the completion of the transaction, the chief executive officer now owns 102,729 shares in the company, valued at $1,244,048.19. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 20.00% of the company’s stock.
Large investors have recently bought and sold shares of the company. Rhumbline Advisers grew its position in shares of Escalade, by 4.9% during the 2nd quarter. Rhumbline Advisers now owns 13,875 shares of the company’s stock valued at $182,000 after acquiring an additional 647 shares during the period. Teachers Advisors LLC increased its stake in shares of Escalade, by 18.2% in the 2nd quarter. Teachers Advisors LLC now owns 16,831 shares of the company’s stock valued at $220,000 after purchasing an additional 2,586 shares in the last quarter. Strs Ohio raised its holdings in Escalade, by 5.8% in the 2nd quarter. Strs Ohio now owns 20,000 shares of the company’s stock worth $262,000 after purchasing an additional 1,100 shares during the period. Bank of New York Mellon Corp raised its holdings in Escalade, by 9.0% in the 1st quarter. Bank of New York Mellon Corp now owns 112,632 shares of the company’s stock worth $1,453,000 after purchasing an additional 9,312 shares during the period. Finally, Northern Trust Corp raised its holdings in Escalade, by 7.2% in the 2nd quarter. Northern Trust Corp now owns 129,228 shares of the company’s stock worth $1,693,000 after purchasing an additional 8,726 shares during the period. Hedge funds and other institutional investors own 26.46% of the company’s stock.
Escalade, Company Profile
Escalade, Incorporated (Escalade) is a manufacturer and distributor of sporting goods through its subsidiary Escalade Sports. The Company operates in Sporting Goods (Escalade Sports) segment. Escalade Sports manufactures, imports and distributes sporting goods brands in basketball goals, archery, indoor and outdoor game recreation and fitness products through sporting goods retailers, specialty dealers, key online retailers, traditional department stores and mass merchants.
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