Johnson Outdoors Inc. (NASDAQ:JOUT) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 242,600 shares, an increase of 6.4% from the January 15th total of 228,100 shares. Based on an average daily trading volume, of 39,200 shares, the days-to-cover ratio is currently 6.2 days. Approximately 3.0% of the shares of the company are short sold.
Several hedge funds and other institutional investors have recently made changes to their positions in JOUT. California State Teachers Retirement System lifted its stake in Johnson Outdoors by 2.2% in the 3rd quarter. California State Teachers Retirement System now owns 7,686 shares of the company’s stock valued at $450,000 after buying an additional 167 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Johnson Outdoors by 2.1% during the third quarter. Rhumbline Advisers now owns 9,302 shares of the company’s stock valued at $545,000 after acquiring an additional 190 shares during the last quarter. Barclays PLC raised its holdings in shares of Johnson Outdoors by 5.2% during the third quarter. Barclays PLC now owns 6,031 shares of the company’s stock valued at $353,000 after acquiring an additional 297 shares during the last quarter. Virginia Retirement Systems ET AL raised its holdings in shares of Johnson Outdoors by 11.1% during the fourth quarter. Virginia Retirement Systems ET AL now owns 4,000 shares of the company’s stock valued at $307,000 after acquiring an additional 400 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Johnson Outdoors by 3.3% in the fourth quarter. Swiss National Bank now owns 12,700 shares of the company’s stock valued at $974,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 63.76% of the company’s stock.
A number of research analysts have weighed in on the stock. BidaskClub cut shares of Johnson Outdoors from a “hold” rating to a “sell” rating in a report on Thursday. Sidoti raised their target price on Johnson Outdoors from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Imperial Capital raised their target price on Johnson Outdoors from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. ValuEngine lowered Johnson Outdoors from a “sell” rating to a “strong sell” rating in a research note on Friday, January 31st. Finally, Zacks Investment Research cut Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Johnson Outdoors has an average rating of “Hold” and an average price target of $86.33.
Shares of JOUT stock opened at $72.56 on Friday. Johnson Outdoors has a 1-year low of $54.12 and a 1-year high of $91.90. The company has a market cap of $738.23 million, a price-to-earnings ratio of 13.44 and a beta of 0.97. The stock has a 50 day simple moving average of $76.15 and a 200-day simple moving average of $65.92.
Johnson Outdoors (NASDAQ:JOUT) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.16. The firm had revenue of $128.05 million for the quarter, compared to analysts’ expectations of $106.14 million. Johnson Outdoors had a net margin of 9.27% and a return on equity of 17.00%. On average, research analysts forecast that Johnson Outdoors will post 5.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Wednesday, January 8th. Johnson Outdoors’s payout ratio is 13.31%.
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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