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

Escalade (NASDAQ:ESCA) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

ESCA has been the subject of a number of other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Escalade in a report on Thursday, January 22nd. Wall Street Zen raised shares of Escalade from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Escalade Price Performance

Shares of ESCA stock opened at $19.88 on Monday. The business’s fifty day moving average price is $17.17 and its 200 day moving average price is $14.59. Escalade has a 1-year low of $11.41 and a 1-year high of $21.32. The firm has a market capitalization of $274.54 million, a PE ratio of 17.75 and a beta of 0.59.

Escalade (NASDAQ:ESCA) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.14. The firm had revenue of $55.79 million during the quarter, compared to analysts’ expectations of $53.80 million. Escalade had a return on equity of 8.97% and a net margin of 6.43%. Equities research analysts expect that Escalade will post 1.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ESCA. Raymond James Financial Inc. acquired a new position in shares of Escalade during the 2nd quarter worth $29,000. Tower Research Capital LLC TRC grew its stake in Escalade by 439.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,622 shares of the company’s stock valued at $51,000 after acquiring an additional 2,950 shares during the last quarter. Certior Financial Group LLC purchased a new position in Escalade during the 3rd quarter valued at about $141,000. Goldman Sachs Group Inc. raised its position in Escalade by 7.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 11,845 shares of the company’s stock worth $160,000 after acquiring an additional 779 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Escalade by 42.3% during the fourth quarter. Wells Fargo & Company MN now owns 12,455 shares of the company’s stock worth $168,000 after acquiring an additional 3,701 shares during the last quarter. Hedge funds and other institutional investors 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.