Johnson Outdoors (NASDAQ:JOUT) Hits New 1-Year High – Here’s Why

Shares of Johnson Outdoors Inc. (NASDAQ:JOUT) hit a new 52-week high during trading on Tuesday . The company traded as high as $51.03 and last traded at $50.8450, with a volume of 23545 shares trading hands. The stock had previously closed at $49.33.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on JOUT shares. Wall Street Zen upgraded shares of Johnson Outdoors from a “buy” rating to a “strong-buy” rating in a report on Saturday. Zacks Research upgraded Johnson Outdoors from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Johnson Outdoors in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Johnson Outdoors Price Performance

The company has a market capitalization of $522.69 million, a P/E ratio of -22.85, a price-to-earnings-growth ratio of 3.19 and a beta of 0.91. The firm has a fifty day moving average price of $44.39 and a 200-day moving average price of $41.53.

Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings data on Friday, February 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.12. The business had revenue of $140.94 million for the quarter, compared to analysts’ expectations of $123.95 million. Johnson Outdoors had a positive return on equity of 0.82% and a negative net margin of 3.56%. On average, research analysts forecast that Johnson Outdoors Inc. will post -0.58 EPS for the current year.

Johnson Outdoors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 22nd. Stockholders of record on Thursday, January 8th were paid a dividend of $0.33 per share. The ex-dividend date was Thursday, January 8th. This represents a $1.32 annualized dividend and a dividend yield of 2.6%. Johnson Outdoors’s dividend payout ratio (DPR) is presently -60.27%.

Insider Activity at Johnson Outdoors

In related news, Director Edward F. Lang sold 2,000 shares of Johnson Outdoors stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $43.94, for a total value of $87,880.00. Following the sale, the director owned 32,171 shares of the company’s stock, valued at approximately $1,413,593.74. The trade was a 5.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 28.21% of the company’s stock.

Institutional Trading of Johnson Outdoors

Hedge funds have recently made changes to their positions in the company. Divisadero Street Capital Management LP bought a new position in shares of Johnson Outdoors during the 3rd quarter worth $7,676,000. CSM Advisors LLC purchased a new position in shares of Johnson Outdoors in the second quarter worth about $2,020,000. Allspring Global Investments Holdings LLC raised its position in shares of Johnson Outdoors by 158.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 100,913 shares of the company’s stock valued at $4,142,000 after purchasing an additional 61,934 shares during the period. Aristides Capital LLC raised its position in shares of Johnson Outdoors by 188.4% in the third quarter. Aristides Capital LLC now owns 90,440 shares of the company’s stock valued at $3,653,000 after purchasing an additional 59,079 shares during the period. Finally, Corient Private Wealth LLC purchased a new stake in shares of Johnson Outdoors during the 2nd quarter valued at approximately $1,528,000. 64.05% of the stock is currently owned by 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.