Johnson Outdoors (NASDAQ:JOUT) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Johnson Outdoors Inc. (NASDAQ:JOUT)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $40.24 and traded as high as $46.76. Johnson Outdoors shares last traded at $45.66, with a volume of 25,114 shares trading hands.

Wall Street Analyst Weigh In

JOUT has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Johnson Outdoors from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Zacks Research raised Johnson Outdoors from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Johnson Outdoors in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

Johnson Outdoors Stock Down 2.1%

The firm has a fifty day simple moving average of $42.71 and a 200-day simple moving average of $40.24. The company has a market cap of $475.32 million, a PE ratio of -13.63, a price-to-earnings-growth ratio of 3.17 and a beta of 0.91.

Johnson Outdoors (NASDAQ:JOUT) last posted its earnings results on Friday, December 12th. The company reported ($2.83) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($2.15). The firm had revenue of $135.76 million during the quarter, compared to analysts’ expectations of $117.42 million. Johnson Outdoors had a negative net margin of 5.79% and a negative return on equity of 1.92%. During the same period in the previous year, the firm posted ($3.35) earnings per share. Equities research analysts forecast that Johnson Outdoors Inc. will post -0.58 earnings per share for the current fiscal year.

Johnson Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 22nd. Shareholders of record on Thursday, January 8th were paid a $0.33 dividend. The ex-dividend date was Thursday, January 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.9%. Johnson Outdoors’s payout ratio is currently -39.40%.

Insider Buying and Selling at Johnson Outdoors

In other news, Director Edward F. Lang sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $43.94, for a total transaction of $87,880.00. Following the transaction, the director directly owned 32,171 shares in the company, valued at approximately $1,413,593.74. This trade represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 28.21% of the company’s stock.

Institutional Trading of Johnson Outdoors

Institutional investors and hedge funds have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. grew its position in Johnson Outdoors by 56.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 66,558 shares of the company’s stock worth $2,688,000 after purchasing an additional 24,088 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Johnson Outdoors by 46.0% in the third quarter. Public Employees Retirement System of Ohio now owns 6,289 shares of the company’s stock valued at $254,000 after buying an additional 1,980 shares during the last quarter. Dean Capital Management boosted its stake in shares of Johnson Outdoors by 31.3% during the third quarter. Dean Capital Management now owns 101,177 shares of the company’s stock worth $4,087,000 after buying an additional 24,102 shares during the period. Divisadero Street Capital Management LP purchased a new position in shares of Johnson Outdoors during the third quarter worth about $7,676,000. Finally, CSM Advisors LLC grew its holdings in shares of Johnson Outdoors by 34.0% during the third quarter. CSM Advisors LLC now owns 89,365 shares of the company’s stock worth $3,609,000 after buying an additional 22,675 shares during the last quarter. Hedge funds and other 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.