Brokerages Set $67.50 Price Target for Johnson Outdoors Inc. (JOUT)
Johnson Outdoors Inc. (NASDAQ:JOUT) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.
Analysts have set a 12 month consensus price objective of $67.50 for the company and are expecting that the company will post $0.02 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Johnson Outdoors an industry rank of 83 out of 265 based on the ratings given to its competitors.
Several research firms recently commented on JOUT. Imperial Capital increased their target price on shares of Johnson Outdoors from $49.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, August 7th. They noted that the move was a valuation call. ValuEngine lowered shares of Johnson Outdoors from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Forward View reaffirmed a “buy” rating and set a $72.00 target price on shares of Johnson Outdoors in a report on Sunday, September 3rd. BidaskClub raised shares of Johnson Outdoors from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 9th. Finally, Zacks Investment Research lowered shares of Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 10th.
In other Johnson Outdoors news, Director Thomas F. Pyle, Jr. sold 1,950 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $64.23, for a total transaction of $125,248.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David W. Johnson sold 1,000 shares of the stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $67.02, for a total transaction of $67,020.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,077 shares of company stock valued at $322,834 in the last three months. 28.03% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its position in Johnson Outdoors by 5.0% during the 1st quarter. Renaissance Technologies LLC now owns 280,700 shares of the company’s stock valued at $10,246,000 after buying an additional 13,300 shares during the period. LSV Asset Management boosted its position in Johnson Outdoors by 7.7% during the 2nd quarter. LSV Asset Management now owns 262,083 shares of the company’s stock valued at $12,635,000 after buying an additional 18,788 shares during the period. Vanguard Group Inc. boosted its position in Johnson Outdoors by 10.3% during the 2nd quarter. Vanguard Group Inc. now owns 217,062 shares of the company’s stock valued at $10,464,000 after buying an additional 20,232 shares during the period. FMR LLC boosted its position in Johnson Outdoors by 52.8% during the 1st quarter. FMR LLC now owns 138,613 shares of the company’s stock valued at $5,059,000 after buying an additional 47,913 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Johnson Outdoors by 5.3% during the 2nd quarter. Acadian Asset Management LLC now owns 123,524 shares of the company’s stock valued at $5,955,000 after buying an additional 6,237 shares during the period. 58.94% of the stock is owned by institutional investors and hedge funds.
Johnson Outdoors (NASDAQ:JOUT) last released its earnings results on Friday, August 4th. The company reported $1.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.63. Johnson Outdoors had a net margin of 6.85% and a return on equity of 12.90%. The company had revenue of $155.27 million for the quarter, compared to analyst estimates of $149.29 million.
The company also recently declared a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 13th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $0.40 annualized dividend and a yield of 0.53%. This is a boost from Johnson Outdoors’s previous quarterly dividend of $0.09. Johnson Outdoors’s dividend payout ratio is presently 12.38%.
Johnson Outdoors Company Profile
Johnson Outdoors Inc is a manufacturer and marketer of branded seasonal, outdoor recreation products. The Company operates through four segments: Marine Electronics, Outdoor Equipment, Watercraft and Diving. Its Marine Electronics segment’s brands are Minn Kota, Humminbird and Cannon. Its Outdoor Equipment segment’s brands are Eureka!, Jetboil and Silva.
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