Forward View Reiterates “Buy” Rating for Johnson Outdoors Inc. (JOUT)
Johnson Outdoors Inc. (NASDAQ:JOUT)‘s stock had its “buy” rating reissued by Forward View in a research note issued to investors on Sunday. They currently have a $72.00 price objective on the stock. Forward View’s price target would indicate a potential upside of 12.85% from the company’s previous close.
Several other analysts have also recently commented on JOUT. BidaskClub upgraded shares of Johnson Outdoors from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 9th. Imperial Capital raised their price objective on shares of Johnson Outdoors from $49.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. They noted that the move was a valuation call. ValuEngine upgraded shares of Johnson Outdoors from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Zacks Investment Research upgraded shares of Johnson Outdoors from a “hold” rating to a “strong-buy” rating and set a $66.00 price objective for the company in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Johnson Outdoors presently has an average rating of “Buy” and an average target price of $67.00.
Johnson Outdoors (JOUT) opened at 63.80 on Friday. The firm has a market cap of $627.28 million, a P/E ratio of 19.70 and a beta of 0.74. The company’s 50 day moving average is $56.64 and its 200 day moving average is $44.32. Johnson Outdoors has a 52-week low of $31.25 and a 52-week high of $65.14.
Johnson Outdoors (NASDAQ:JOUT) last issued its earnings results on Friday, August 4th. The company reported $1.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.63. Johnson Outdoors had a net margin of 6.85% and a return on equity of 12.90%. The business had revenue of $155.27 million for the quarter, compared to the consensus estimate of $149.29 million. Equities research analysts forecast that Johnson Outdoors will post $3.49 EPS for the current fiscal year.
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In related news, Director Terry E. London sold 1,127 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $59.81, for a total value of $67,405.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 28.42% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in shares of Johnson Outdoors by 5.0% in the first quarter. Renaissance Technologies LLC now owns 280,700 shares of the company’s stock valued at $10,246,000 after purchasing an additional 13,300 shares during the period. LSV Asset Management lifted its stake in shares of Johnson Outdoors by 7.7% in the second quarter. LSV Asset Management now owns 262,083 shares of the company’s stock valued at $12,635,000 after purchasing an additional 18,788 shares during the period. Vanguard Group Inc. lifted its stake in shares of Johnson Outdoors by 10.3% in the second quarter. Vanguard Group Inc. now owns 217,062 shares of the company’s stock valued at $10,464,000 after purchasing an additional 20,232 shares during the period. FMR LLC lifted its stake in shares of Johnson Outdoors by 52.8% in the first quarter. FMR LLC now owns 138,613 shares of the company’s stock valued at $5,059,000 after purchasing an additional 47,913 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in shares of Johnson Outdoors by 5.3% in the second quarter. Acadian Asset Management LLC now owns 123,524 shares of the company’s stock valued at $5,955,000 after purchasing an additional 6,237 shares during the period. Hedge funds and other institutional investors own 59.48% of the company’s stock.
Johnson Outdoors Company Profile
Johnson Outdoors Inc is a manufacturer and marketer of branded seasonal, outdoor recreation products. The Company operates through four segments: Marine Electronics, Outdoor Equipment, Watercraft and Diving. Its Marine Electronics segment’s brands are Minn Kota, Humminbird and Cannon. Its Outdoor Equipment segment’s brands are Eureka!, Jetboil and Silva.
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