The company reported strong sales for its fiscal first quarter
It's sharping up to be a miserable week for the U.S. stock market, but that's done little to slow down shares of small-cap sporting goods stock Johnson Outdoors Inc. (NASDAQ:JOUT). At last check, JOUT was trading up 18.8% at $72.50, making it among the best Nasdaq stocks in today's session, thanks to the company's better-than-expected fiscal first-quarter sales. Revenue was clocked at $116.6 million for the period, up almost 24% from a year earlier.
The chart move has the shares trading back above the 50-day moving average for the first time since their December bear gap -- which they've now filled. In fact, Johnson Outdoors is back within reach of its Oct. 2 record high of $76.18. This outperformance is nothing new for JOUT, though. The equity added more than 56% in 2017, and back in 2016 it surged 81.3%.
Still, there are just two analysts covering the stock. That's not completely surprising, though, since Johnson Outdoors has a market cap of just $725 million, according to Google Finance. The consensus 12-month price target between the pair was $69.50, so JOUT has exceeded their expectations thus far with today's move.