Johnson Outdoors JOUT Receives a Downgraded Rating from StockNews.com

Johnson Outdoors JOUT, a prominent player in the outdoor recreation product industry, experienced a downgrade in their stock rating. Analysts at StockNews.com adjusted the company's rating from an initial 'buy' to a 'hold' status on Thursday, November 11th, 2023. This revision reflects a change in the market's perception of the stock's future potential.

Market Performance of Johnson Outdoors

The trading session for JOUT on Thursday commenced at $49.50. Observing the stock's past performance, the fifty-day moving average stood at $52.05, while the two-hundred-day moving average hovered around $56.51. Johnson Outdoors shares had previously touched a 1-year low at $47.00, and a 1-year high at $71.88. The company holds a market capitalization of $507.38 million, a PE ratio of 11.22, a P/E/G ratio of 0.96, and a beta of 0.80, reflecting its stability and growth potential.

Notable Insider Transactions

In more recent developments, Chief Financial Officer David W. Johnson parted with 1,000 shares of JOUT stock at an average price of $54.85, totaling $54,850.00 in a transaction on Wednesday, September 13th. Post-sale, the CFO retains 26,857 shares in the company, estimated at a value of approximately $1,473,106.45. This transaction was disclosed in a document filed with the SEC. It's noteworthy that corporate insiders currently hold 27.53% of the company's stock.

Institutional Investments

There has been a notable shuffle in the institutional stakes within Johnson Outdoors. Various institutional investors have either initiated or adjusted their equity positions. Legacy Financial Group LLC invested $28,000 in JOUT during the third quarter. Quantbot Technologies LP made a new investment worth $46,000 during the first quarter. CWM LLC increased its holdings by 305.7%, now owning 1,140 shares valued at $72,000, and Tower Research Capital LLC TRC increased their investment by 36.8% now holding 1,628 shares worth $83,000. Notably, Citigroup Inc. C, boosted its investment by 1,017.0% in the second quarter, now owning 1,776 shares valued at $109,000. The actions of these institutions solidify that 60.10% of Johnson Outdoors’ stock is institutionally owned.

Corporate Identity of Johnson Outdoors

With its headquarters in Racine, Wisconsin, Johnson Outdoors Inc. operates globally, providing cutting-edge products for various outdoor activities. Their business segments include Fishing, Camping, Watercraft Recreation, and Diving. The Fishing division offers a host of products such as trolling motors, marine battery chargers, shallow water anchors, and downriggers. They also provide advanced sonar and GPS devices catering to fish finding, navigation, and marine cartography.

Stocks of Interest

While JOUT has faced adjustments in its stock rating, investors continue to look for potential opportunities. Some comparable companies or alternative investments might be worth consideration. Investment choices can often depend on individual investor's strategies aligned with market trends, analyses, and specific financial goals.

JohnsonOutdoors, Downgrade, Hold