Johnson Outdoors Inc. (NASDAQ:JOUT) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 98,400 shares, a drop of 24.2% from the August 31st total of 129,800 shares. Based on an average daily volume of 36,200 shares, the short-interest ratio is currently 2.7 days. Approximately 1.2% of the company’s shares are sold short.
Shares of Johnson Outdoors stock traded up $0.92 during trading hours on Thursday, reaching $82.81. The company’s stock had a trading volume of 29,460 shares, compared to its average volume of 39,807. The company’s 50 day simple moving average is $83.57 and its 200 day simple moving average is $76.71. Johnson Outdoors has a one year low of $48.76 and a one year high of $97.00. The stock has a market cap of $825.86 million, a P/E ratio of 19.18 and a beta of 0.98.
Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings results on Friday, July 31st. The company reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.82 by ($0.55). The business had revenue of $138.39 million during the quarter. Johnson Outdoors had a return on equity of 12.79% and a net margin of 8.17%.
Several research firms have recently issued reports on JOUT. BidaskClub lowered shares of Johnson Outdoors from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 13th. ValuEngine lowered shares of Johnson Outdoors from a “hold” rating to a “sell” rating in a report on Thursday, September 3rd. Finally, Sidoti raised shares of Johnson Outdoors from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $99.00 to $103.00 in a report on Tuesday, September 8th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $88.67.
In other Johnson Outdoors news, Director Terry E. London sold 3,848 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $87.24, for a total transaction of $335,699.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO David W. Johnson sold 1,000 shares of the stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $83.47, for a total transaction of $83,470.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,748 shares of company stock worth $587,092. 18.60% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in JOUT. AJO LP increased its position in shares of Johnson Outdoors by 347.6% in the second quarter. AJO LP now owns 64,042 shares of the company’s stock worth $5,829,000 after acquiring an additional 49,735 shares in the last quarter. StackLine Partners LP acquired a new stake in Johnson Outdoors in the second quarter valued at approximately $2,514,000. Morgan Stanley lifted its stake in Johnson Outdoors by 241.9% in the first quarter. Morgan Stanley now owns 36,008 shares of the company’s stock valued at $2,258,000 after acquiring an additional 25,477 shares during the last quarter. Cadence Capital Management LLC acquired a new stake in Johnson Outdoors in the second quarter valued at approximately $1,827,000. Finally, BlackRock Inc. lifted its stake in Johnson Outdoors by 4.5% in the first quarter. BlackRock Inc. now owns 418,182 shares of the company’s stock valued at $26,220,000 after acquiring an additional 18,199 shares during the last quarter. 67.83% of the stock is currently owned by institutional investors and hedge funds.
About Johnson Outdoors
Johnson Outdoors Inc designs, manufactures, and markets camping, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers electric motors for trolling or primary propulsion, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.
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