Escalade (NASDAQ:ESCA) Lowered to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Escalade (NASDAQ:ESCA) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Escalade from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Weiss Ratings restated a “hold (c)” rating on shares of Escalade in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Escalade currently has a consensus rating of “Hold”.

Escalade Stock Down 0.2%

Shares of ESCA opened at $19.88 on Monday. Escalade has a twelve month low of $11.41 and a twelve month high of $21.32. The stock has a market capitalization of $274.54 million, a P/E ratio of 17.75 and a beta of 0.59. The company has a 50 day moving average of $17.17 and a 200-day moving average of $14.59.

Escalade (NASDAQ:ESCA) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.14. Escalade had a net margin of 6.43% and a return on equity of 8.97%. The business had revenue of $55.79 million for the quarter, compared to analyst estimates of $53.80 million. On average, sell-side analysts anticipate that Escalade will post 1.05 earnings per share for the current fiscal year.

Escalade Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Monday, July 6th will be given a dividend of $0.1525 per share. The ex-dividend date is Monday, July 6th. This represents a $0.61 annualized dividend and a yield of 3.1%. Escalade’s dividend payout ratio (DPR) is 54.46%.

Hedge Funds Weigh In On Escalade

Institutional investors and hedge funds have recently made changes to their positions in the company. Hillsdale Investment Management Inc. bought a new position in shares of Escalade during the first quarter worth approximately $311,000. Ritholtz Wealth Management boosted its stake in Escalade by 108.6% in the 1st quarter. Ritholtz Wealth Management now owns 32,675 shares of the company’s stock valued at $561,000 after purchasing an additional 17,012 shares during the period. Barclays PLC boosted its stake in Escalade by 12.0% in the 4th quarter. Barclays PLC now owns 15,960 shares of the company’s stock valued at $215,000 after purchasing an additional 1,711 shares during the period. State Street Corp grew its holdings in Escalade by 3.2% in the 4th quarter. State Street Corp now owns 140,410 shares of the company’s stock valued at $1,894,000 after buying an additional 4,373 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Escalade by 42.3% in the 4th quarter. Wells Fargo & Company MN now owns 12,455 shares of the company’s stock valued at $168,000 after buying an additional 3,701 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

About Escalade

Escalade, Inc is a U.S.-based manufacturer and distributor of recreational equipment and specialty products for both consumer and commercial markets. Headquartered in Evansville, Indiana, the company operates through two principal business segments: Sporting Goods and Commercial Products. The Sporting Goods segment encompasses a diverse range of products such as hockey and lacrosse goal assemblies, fitness accessories, archery and hunting gear, and table tennis equipment. The Commercial Products segment focuses on seating solutions for restaurants, hospitality venues and other public spaces under the Top Seat brand, as well as storage, display products and industrial carts.

Within Sporting Goods, Escalade markets its products under proprietary brands including Bear® Archery, Gene St.