Escalade (NASDAQ:ESCA) Rating Lowered to Buy at Wall Street Zen

Escalade (NASDAQ:ESCA) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other brokerages have also commented on ESCA. Weiss Ratings restated a “hold (c)” rating on shares of Escalade in a research note on Thursday, January 22nd. Zacks Research downgraded shares of Escalade from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Escalade currently has a consensus rating of “Hold”.

Escalade Trading Up 2.0%

NASDAQ:ESCA opened at $14.54 on Friday. The company has a market capitalization of $200.65 million, a P/E ratio of 15.98 and a beta of 0.69. The stock’s 50 day moving average price is $13.45 and its 200 day moving average price is $12.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.41 and a current ratio of 3.30. Escalade has a 52 week low of $11.41 and a 52 week high of $16.99.

Escalade (NASDAQ:ESCA) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.09. The firm had revenue of $67.79 million for the quarter, compared to analyst estimates of $58.83 million. Escalade had a net margin of 5.26% and a return on equity of 7.49%. On average, research analysts forecast that Escalade will post 0.93 EPS for the current fiscal year.

Insider Activity at Escalade

In related news, Director Richard Fenton Baalmann, Jr. sold 5,490 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $13.00, for a total value of $71,370.00. Following the completion of the transaction, the director directly owned 100,394 shares in the company, valued at approximately $1,305,122. This represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stephen Wawrin sold 2,000 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $13.00, for a total value of $26,000.00. Following the completion of the transaction, the chief financial officer directly owned 41,000 shares of the company’s stock, valued at approximately $533,000. This trade represents a 4.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 12,000 shares of company stock valued at $156,100. Insiders own 28.75% of the company’s stock.

Hedge Funds Weigh In On Escalade

A number of hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of Escalade during the 2nd quarter worth about $29,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Escalade in the second quarter worth about $32,000. Tower Research Capital LLC TRC lifted its stake in Escalade by 439.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,622 shares of the company’s stock worth $51,000 after purchasing an additional 2,950 shares during the period. Certior Financial Group LLC bought a new position in Escalade during the third quarter worth about $141,000. Finally, JPMorgan Chase & Co. boosted its holdings in Escalade by 13.1% during the third quarter. JPMorgan Chase & Co. now owns 13,853 shares of the company’s stock valued at $174,000 after purchasing an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

Escalade Company Profile

Escalade, Inc is a U.S.-based manufacturer and distributor of recreational equipment and specialty products for both consumer and commercial markets. Headquartered in Evansville, Indiana, the company operates through two principal business segments: Sporting Goods and Commercial Products. The Sporting Goods segment encompasses a diverse range of products such as hockey and lacrosse goal assemblies, fitness accessories, archery and hunting gear, and table tennis equipment. The Commercial Products segment focuses on seating solutions for restaurants, hospitality venues and other public spaces under the Top Seat brand, as well as storage, display products and industrial carts.

Within Sporting Goods, Escalade markets its products under proprietary brands including Bear® Archery, Gene St.