Escalade (NASDAQ:ESCA) Stock Rating Upgraded by Zacks Research

Escalade (NASDAQ:ESCA) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts also recently commented on the company. Wall Street Zen raised Escalade to a “strong-buy” rating in a research note on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Escalade in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Escalade has a consensus rating of “Buy”.

Escalade Trading Up 0.7%

Shares of Escalade stock opened at $13.41 on Monday. Escalade has a 1 year low of $11.41 and a 1 year high of $16.99. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.41 and a current ratio of 3.30. The company has a market capitalization of $185.06 million, a P/E ratio of 14.74 and a beta of 0.71. The company’s fifty day moving average is $12.59 and its two-hundred day moving average is $12.76.

Escalade (NASDAQ:ESCA) last announced its earnings results on Thursday, October 30th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. Escalade had a net margin of 5.26% and a return on equity of 7.49%. The business had revenue of $67.79 million during the quarter, compared to analysts’ expectations of $58.83 million. Analysts forecast that Escalade will post 0.93 earnings per share for the current year.

Insider Activity

In other Escalade news, Director Richard Fenton Baalmann, Jr. sold 5,490 shares of the stock in a transaction dated Thursday, December 11th. The shares were 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 of the company’s stock, valued at approximately $1,305,122. This trade represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Stephen Wawrin sold 2,000 shares of Escalade stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $13.00, for a total transaction of $26,000.00. Following the sale, the chief financial officer owned 41,000 shares of the company’s stock, valued at approximately $533,000. The trade was a 4.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 12,000 shares of company stock valued at $156,100 in the last quarter. Company insiders own 28.75% of the company’s stock.

Hedge Funds Weigh In On Escalade

Several hedge funds have recently bought and sold shares of ESCA. Bridgeway Capital Management LLC raised its holdings in Escalade by 2.5% during the third quarter. Bridgeway Capital Management LLC now owns 41,808 shares of the company’s stock worth $526,000 after purchasing an additional 1,000 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Escalade by 13.1% in 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 during the last quarter. Arete Wealth Advisors LLC increased its position in shares of Escalade by 8.0% in the third quarter. Arete Wealth Advisors LLC now owns 22,605 shares of the company’s stock valued at $284,000 after buying an additional 1,676 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Escalade during the 2nd quarter worth $29,000. Finally, Prosperity Consulting Group LLC boosted its position in shares of Escalade by 11.7% in the 3rd quarter. Prosperity Consulting Group LLC now owns 19,782 shares of the company’s stock worth $249,000 after buying an additional 2,075 shares in the last quarter. 65.22% of the stock is owned by hedge funds and other institutional investors.

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.