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

Johnson Outdoors Inc. (NASDAQ:JOUT)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $46.19 and traded as high as $47.80. Johnson Outdoors shares last traded at $46.46, with a volume of 63,514 shares changing hands.

Analysts Set New Price Targets

JOUT has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Johnson Outdoors in a report on Friday, May 8th. Zacks Research lowered shares of Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Finally, Wall Street Zen downgraded shares of Johnson Outdoors from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Johnson Outdoors has a consensus rating of “Reduce”.

Johnson Outdoors Stock Performance

The company has a market capitalization of $486.90 million, a price-to-earnings ratio of -30.57, a price-to-earnings-growth ratio of 4.46 and a beta of 0.82. The firm’s 50-day simple moving average is $47.59 and its 200-day simple moving average is $46.19.

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

Johnson Outdoors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 16th will be given 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 2.8%. Johnson Outdoors’s payout ratio is -86.84%.

Hedge Funds Weigh In On Johnson Outdoors

Large investors have recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in shares of Johnson Outdoors by 51.1% in the first quarter. Bank of America Corp DE now owns 8,018 shares of the company’s stock valued at $373,000 after purchasing an additional 2,712 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Johnson Outdoors by 50.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,684 shares of the company’s stock valued at $78,000 after purchasing an additional 562 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Johnson Outdoors by 9.6% in the first quarter. Empowered Funds LLC now owns 45,158 shares of the company’s stock valued at $2,100,000 after purchasing an additional 3,960 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Johnson Outdoors by 10.4% in the first quarter. Quantinno Capital Management LP now owns 27,312 shares of the company’s stock valued at $1,270,000 after purchasing an additional 2,572 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Johnson Outdoors by 2.3% in the first quarter. Gamco Investors INC. ET AL now owns 427,700 shares of the company’s stock valued at $19,892,000 after purchasing an additional 9,600 shares in the last quarter. 64.05% of the stock is currently owned by institutional investors and hedge funds.

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.