Johnson Outdoors (NASDAQ:JOUT) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Johnson Outdoors Inc. (NASDAQ:JOUT) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $46.49 and traded as high as $47.24. Johnson Outdoors shares last traded at $47.1110, with a volume of 202,149 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Johnson Outdoors in a research report on Friday, May 8th. Wall Street Zen downgraded shares of Johnson Outdoors from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Zacks Research lowered shares of Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Johnson Outdoors presently has an average rating of “Reduce”.

Johnson Outdoors Stock Up 2.4%

The company has a market capitalization of $493.72 million, a PE ratio of -30.99, a PEG ratio of 4.38 and a beta of 0.82. The company has a 50-day moving average price of $46.86 and a two-hundred day moving average price of $46.49.

Johnson Outdoors (NASDAQ:JOUT) last issued its quarterly earnings data 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. Johnson Outdoors had a positive return on equity of 2.52% and a negative net margin of 2.33%.The business had revenue of $194.48 million for the quarter, compared to analysts’ expectations of $185.09 million. As a group, equities analysts anticipate that Johnson Outdoors Inc. will post 0.75 EPS for the current fiscal year.

Johnson Outdoors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Thursday, July 16th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $1.32 annualized dividend and a yield of 2.8%. Johnson Outdoors’s payout ratio is currently -86.84%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. 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 worth $373,000 after purchasing an additional 2,712 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Johnson Outdoors by 50.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,684 shares of the company’s stock valued at $78,000 after buying an additional 562 shares during the period. Empowered Funds LLC grew its position in Johnson Outdoors by 9.6% during the first quarter. Empowered Funds LLC now owns 45,158 shares of the company’s stock worth $2,100,000 after buying an additional 3,960 shares in the last quarter. Quantinno Capital Management LP grew its position in Johnson Outdoors by 10.4% during the first quarter. Quantinno Capital Management LP now owns 27,312 shares of the company’s stock worth $1,270,000 after buying an additional 2,572 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in Johnson Outdoors by 2.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 427,700 shares of the company’s stock worth $19,892,000 after acquiring an additional 9,600 shares during the last quarter. 64.05% of the stock is currently owned by hedge funds and other institutional investors.

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.