Johnson Outdoors JOUT Receives Hold Rating from StockNews.com Amid Market Activity

Johnson Outdoors Inc. JOUT, a recognized company in the outdoor recreational equipment sector, experienced a shift in its stock rating as analysts at StockNews.com downgraded the firm's shares from 'buy' to 'hold.' The announcement of this rating change for JOUT came on November 11th, 2023, signalling to investors a revised outlook on the company's near-term investment potential.

Market Performance of Johnson Outdoors

The shares of JOUT stock were trading at an opening price of $49.50 on the day of the rating update. Notable metrics such as the fifty-day moving average stood at $52.05 and the two-hundred-day moving average was reported at $56.51. JOUT has had its fair share of market fluctuations, with a 1-year low at $47.00 and a 1-year high reaching $71.88. With a market capitalization around $507.38 million, a price-to-earnings (PE) ratio of 11.22, a price/earnings to growth (PEG) ratio of 0.96, and a beta of 0.80, JOUT presents an interesting profile for investors and market watchers.

Insider Transactions at Johnson Outdoors

Looking into the movements by company insiders, David W. Johnson, the CFO of Johnson Outdoors, executed a sale of 1,000 shares at an average price of $54.85 per share, totalling $54,850. After this transaction, David W. Johnson’s holding in the company stood at 26,857 shares with an estimated value of $1,473,106.45. Disclosures containing details of insider sales and purchases can be found on filings submitted to the Securities & Exchange Commission. Insider ownership of JOUT stock remains substantial at 27.53%.

Institutional Engagement with Johnson Outdoors

A diverse group of institutional investors have engaged with JOUT shares in recent transactions. Legacy Financial Group LLC and Quantbot Technologies LP made new investments in JOUT during differing quarters, valued at $28,000 and $46,000 respectively. CWM LLC notably increased its position by 305.7%, while Tower Research Capital LLC TRC expanded its stake by 36.8%. Furthermore, C (Citigroup Inc.) augmented its holdings by a remarkable 1,017.0% during the second quarter. Collectively, institutional investors and hedge funds own approximately 60.10% of Johnson Outdoors’ stock.

Overview of Johnson Outdoors

Headquartered in Racine, Wisconsin, Johnson Outdoors Inc. has carved a niche in designing, manufacturing, and marketing innovative products for outdoor enthusiasts. The company operates through various segments including Fishing, Camping, Watercraft Recreation, and Diving. Product portfolio ranges from cutting-edge trolling motors, marine battery chargers, and sonar equipment to outdoor camping supplies and watercraft recreational gear, catering to a wide consumer base with distinct seasonal outdoor pursuits.

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