Is Johnson Outdoors, Inc. overvalued or undervalued?

As of 5 August 2024, the valuation grade for Johnson Outdoors, Inc. has moved from fair to risky, indicating a significant shift in its financial outlook. The company is currently considered overvalued. Key ratios reveal a Price to Book Value of 0.65, an EV to EBIT of -4.25, and an EV to Sales of 0.36, all of which suggest that the company is struggling financially.
In comparison to its peers, Johnson Outdoors shows a stark contrast with Sturm, Ruger & Co., Inc., which is deemed very expensive with a P/E ratio of 27.74, and Malibu Boats, Inc., which is also classified as risky with an EV to EBITDA of 16.28. The company's recent stock performance has been poor, with a year-to-date return of -10.94%, significantly underperforming the S&P 500's 2.44% return for the same period, reinforcing the notion of its overvaluation.