Johnson Outdoors Inc. (NASDAQ:JOUT) Sees Significant Growth in Short Interest

Johnson Outdoors Inc. (NASDAQ:JOUT) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 269,100 shares, an increase of 15.2% from the June 30th total of 233,600 shares. Approximately 3.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 52,000 shares, the short-interest ratio is currently 5.2 days.

JOUT has been the subject of several research reports. Zacks Investment Research lowered shares of Johnson Outdoors from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub lowered shares of Johnson Outdoors from a “sell” rating to a “strong sell” rating in a research report on Friday, July 12th. ValuEngine lowered shares of Johnson Outdoors from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Imperial Capital reduced their price objective on shares of Johnson Outdoors from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. They noted that the move was a valuation call. Finally, Sidoti lowered shares of Johnson Outdoors from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $102.00 to $80.00 in a research report on Monday, July 15th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $79.00.

In other Johnson Outdoors news, CFO David W. Johnson sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $60.39, for a total transaction of $60,390.00. Following the transaction, the chief financial officer now owns 13,958 shares of the company’s stock, valued at approximately $842,923.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 18.60% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA boosted its holdings in shares of Johnson Outdoors by 3,187.1% in the first quarter. BNP Paribas Arbitrage SA now owns 1,019 shares of the company’s stock worth $73,000 after buying an additional 988 shares during the period. Systematic Financial Management LP acquired a new position in shares of Johnson Outdoors in the second quarter worth about $75,000. Meeder Asset Management Inc. boosted its holdings in shares of Johnson Outdoors by 5,894.7% in the second quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company’s stock worth $85,000 after buying an additional 1,120 shares during the period. Aperio Group LLC acquired a new position in shares of Johnson Outdoors in the second quarter worth about $102,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of Johnson Outdoors by 337.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 1,790 shares of the company’s stock worth $105,000 after buying an additional 1,381 shares during the period. Institutional investors own 62.93% of the company’s stock.

Shares of NASDAQ:JOUT traded up $0.36 during trading hours on Tuesday, hitting $59.78. 3,661 shares of the company’s stock traded hands, compared to its average volume of 54,074. Johnson Outdoors has a 52 week low of $54.66 and a 52 week high of $107.36. The company’s fifty day simple moving average is $70.02. The stock has a market cap of $597.17 million, a P/E ratio of 12.77 and a beta of 0.93.

Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings data on Friday, August 2nd. The company reported $2.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.32 by ($0.13). Johnson Outdoors had a net margin of 7.74% and a return on equity of 14.40%. The business had revenue of $176.25 million for the quarter, compared to the consensus estimate of $176.30 million. On average, equities research analysts anticipate that Johnson Outdoors will post 4.53 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Wednesday, July 10th. Johnson Outdoors’s payout ratio is 11.94%.

Johnson Outdoors Company Profile

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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