Zacks Investment Research Lowers Escalade Inc. (ESCA) to Sell
Escalade Inc. (NASDAQ:ESCA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “Escalade, Incorporated is a diversified company engaged in the manufacture and sale of sporting goods products and office and graphic arts products. The company offers a broad and complete product selection that is built on innovation and cutting edge product design. These diverse products include table tennis tables and equipment; pool tables and equipment; other game tables which include table soccer, table hockey, and multi games; basketball systems; and archery Equipment. “
Escalade (NASDAQ:ESCA) traded down 1.08% during trading on Tuesday, hitting $13.80. 5,367 shares of the company’s stock were exchanged. The firm has a market cap of $197.35 million, a price-to-earnings ratio of 18.04 and a beta of 0.35. The company’s 50-day moving average price is $12.77 and its 200 day moving average price is $11.64. Escalade has a 12-month low of $9.70 and a 12-month high of $14.70.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Monday, December 12th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Thursday, December 8th. Escalade’s dividend payout ratio is presently 57.14%.
Institutional investors have recently bought and sold shares of the company. North Star Investment Management Corp. raised its position in Escalade by 31.8% in the second quarter. North Star Investment Management Corp. now owns 340,205 shares of the company’s stock worth $3,484,000 after buying an additional 82,104 shares in the last quarter. Skylands Capital LLC raised its position in Escalade by 79.3% in the second quarter. Skylands Capital LLC now owns 34,700 shares of the company’s stock worth $355,000 after buying an additional 15,350 shares in the last quarter. Parthenon LLC raised its position in Escalade by 24.4% in the second quarter. Parthenon LLC now owns 152,240 shares of the company’s stock worth $1,559,000 after buying an additional 29,893 shares in the last quarter. Minerva Advisors LLC raised its position in Escalade by 19.8% in the second quarter. Minerva Advisors LLC now owns 415,960 shares of the company’s stock worth $4,260,000 after buying an additional 68,738 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Escalade by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 84,774 shares of the company’s stock worth $868,000 after buying an additional 3,021 shares in the last quarter. 24.82% of the stock is owned by institutional investors.
Escalade, Incorporated (Escalade) is a manufacturer and distributor of sporting goods through its subsidiary Escalade Sports. The Company operates in Sporting Goods (Escalade Sports) segment. Escalade Sports manufactures, imports and distributes sporting goods brands in basketball goals, archery, indoor and outdoor game recreation and fitness products through sporting goods retailers, specialty dealers, key online retailers, traditional department stores and mass merchants.
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