Johnson Outdoors (NASDAQ:JOUT) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Johnson Outdoors Inc. (NASDAQ:JOUT) passed above its 200-day moving average during trading on Friday . The stock has a 200-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 trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on JOUT shares. Wall Street Zen cut Johnson Outdoors from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Johnson Outdoors in a research report on Friday, May 8th. Finally, Zacks Research downgraded Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Johnson Outdoors Stock Performance

The firm’s 50-day moving average is $46.86 and its 200 day moving average is $46.49. The stock has a market cap of $493.72 million, a PE ratio of -30.99, a P/E/G ratio of 4.45 and a beta of 0.82.

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 the consensus estimate of $0.87 by $0.02. The company had revenue of $194.48 million for the quarter, compared to the consensus estimate of $185.09 million. Johnson Outdoors had a negative net margin of 2.33% and a positive return on equity of 2.52%. On average, sell-side analysts predict that Johnson Outdoors Inc. will post 0.75 EPS for the current fiscal year.

Johnson Outdoors Dividend Announcement

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

Hedge Funds Weigh In On Johnson Outdoors

Several institutional investors have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL lifted its position in Johnson Outdoors by 2.3% during 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 period. Vanguard Group Inc. increased its holdings in shares of Johnson Outdoors by 5.5% in the third quarter. Vanguard Group Inc. now owns 296,435 shares of the company’s stock valued at $11,973,000 after purchasing an additional 15,345 shares during the period. Divisadero Street Capital Management LP acquired a new position in shares of Johnson Outdoors in the third quarter valued at approximately $7,676,000. Russell Investments Group Ltd. increased its holdings in shares of Johnson Outdoors by 1.8% in the third quarter. Russell Investments Group Ltd. now owns 185,928 shares of the company’s stock valued at $7,510,000 after purchasing an additional 3,354 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Johnson Outdoors by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 144,816 shares of the company’s stock worth $6,149,000 after purchasing an additional 7,383 shares during the last quarter. Institutional investors and hedge funds own 64.05% of the company’s stock.

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.