Johnson Outdoors (NASDAQ:JOUT) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Johnson Outdoors Inc. (NASDAQ:JOUT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $40.95 and traded as high as $47.54. Johnson Outdoors shares last traded at $47.36, with a volume of 67,798 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Zacks Research upgraded shares of Johnson Outdoors from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. Wall Street Zen lowered Johnson Outdoors from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Johnson Outdoors in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce”.

Johnson Outdoors Trading Up 4.3%

The company has a market cap of $493.02 million, a PE ratio of -14.14, a P/E/G ratio of 3.09 and a beta of 0.91. The business has a fifty day moving average of $43.63 and a 200-day moving average of $40.95.

Johnson Outdoors (NASDAQ:JOUT) last issued its quarterly earnings data on Friday, December 12th. The company reported ($2.83) EPS for the quarter, missing the consensus estimate of ($0.68) by ($2.15). Johnson Outdoors had a negative return on equity of 1.92% and a negative net margin of 5.79%.The company had revenue of $135.76 million during the quarter, compared to analysts’ expectations of $117.42 million. During the same quarter last year, the business earned ($3.35) earnings per share. As a group, research analysts predict that Johnson Outdoors Inc. will post -0.58 EPS for the current year.

Johnson Outdoors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 22nd. Shareholders of record on Thursday, January 8th were paid a dividend of $0.33 per share. The ex-dividend date was Thursday, January 8th. This represents a $1.32 annualized dividend and a yield of 2.8%. Johnson Outdoors’s dividend payout ratio is currently -39.40%.

Insider Buying and Selling

In other news, Director Edward F. Lang sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $43.94, for a total value of $87,880.00. Following the transaction, the director owned 32,171 shares in the company, valued at $1,413,593.74. This represents a 5.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 28.21% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of JOUT. PNC Financial Services Group Inc. grew its holdings in Johnson Outdoors by 1,175.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 893 shares of the company’s stock valued at $27,000 after buying an additional 823 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Johnson Outdoors during the second quarter valued at approximately $52,000. Strs Ohio bought a new stake in shares of Johnson Outdoors during the third quarter worth $145,000. AlphaQuest LLC bought a new stake in Johnson Outdoors during the 2nd quarter valued at about $120,000. Finally, CWM LLC grew its stake in Johnson Outdoors by 157.5% in the second quarter. CWM LLC now owns 4,056 shares of the company’s stock worth $123,000 after purchasing an additional 2,481 shares in the last quarter. Institutional investors own 64.05% of the company’s stock.

About Johnson Outdoors

Johnson Outdoors Inc is a diversified outdoor recreation company that develops, manufactures and markets a broad range of gear and equipment for marine and land-based activities. The company operates through two primary segments: the Marine Electronics & Boat Group and the Outdoor Products Group. Its marine offerings include electric motors and anchors under the Minn Kota® brand, fish-finding and sonar systems under the Humminbird® brand, and a lineup of recreational watercraft under the Old Town® and Ocean Kayak® names.