JOUT - Johnson Outdoors: Patiently Fishing The Bottom

2024-07-02 07:00:41 ET

Summary

• Johnson Outdoors continues to struggle with weak demand and high inventory levels.
• The company's short-term outlook is still weak, but I believe in a very notable mid-term earnings recovery as the challenges start to subside.
• The valuation is becoming more attractive, but I remain at a Hold rating due to the weak short-term outlook and likely volatility in the longer-term financial trajectory.

Johnson Outdoors Inc. ( JOUT ), the outdoors recreational products manufacturer, has continued to post weak financials amid a weak industry and an unsustainably high inventory level....

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