Johnson Outdoors (NASDAQ:JOUT) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Johnson Outdoors Inc. (NASDAQ:JOUT) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $45.80 and traded as high as $47.14. Johnson Outdoors shares last traded at $44.84, with a volume of 98,379 shares.

Analysts Set New Price Targets

JOUT has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Johnson Outdoors in a report on Friday, May 8th. Wall Street Zen cut Johnson Outdoors from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Zacks Research cut Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Johnson Outdoors Trading Down 2.2%

The stock has a market cap of $469.92 million, a price-to-earnings ratio of -29.50, a PEG ratio of 4.37 and a beta of 0.82. The stock has a 50-day moving average price of $47.62 and a two-hundred day moving average price of $45.80.

Johnson Outdoors (NASDAQ:JOUT) last issued its earnings results on Friday, May 8th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.02. The company had revenue of $194.48 million during the quarter, compared to analyst estimates of $185.09 million. Johnson Outdoors had a positive return on equity of 2.52% and a negative net margin of 2.33%. Research analysts predict that Johnson Outdoors Inc. will post 0.75 earnings per share for the current fiscal year.

Johnson Outdoors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Thursday, July 16th will be paid a $0.33 dividend. The ex-dividend date is Thursday, July 16th. This represents a $1.32 dividend on an annualized basis and a yield of 2.9%. Johnson Outdoors’s dividend payout ratio (DPR) is -86.84%.

Hedge Funds Weigh In On Johnson Outdoors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JOUT. Divisadero Street Capital Management LP purchased a new position in Johnson Outdoors in the 3rd quarter worth $7,676,000. Aristides Capital LLC raised its stake in Johnson Outdoors by 188.4% in the 3rd quarter. Aristides Capital LLC now owns 90,440 shares of the company’s stock worth $3,653,000 after acquiring an additional 59,079 shares during the last quarter. Corient Private Wealth LLC purchased a new position in Johnson Outdoors in the 2nd quarter worth $1,528,000. Two Sigma Investments LP raised its stake in shares of Johnson Outdoors by 429.5% during the 3rd quarter. Two Sigma Investments LP now owns 56,159 shares of the company’s stock valued at $2,268,000 after buying an additional 45,552 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Johnson Outdoors by 74.4% during the 4th quarter. AQR Capital Management LLC now owns 100,125 shares of the company’s stock valued at $4,250,000 after buying an additional 42,715 shares during the last quarter. Hedge funds and other institutional investors own 64.05% of the company’s stock.

Johnson Outdoors Company Profile

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.