Acushnet (NYSE:GOLF) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Acushnet (NYSE:GOLF) from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other research firms have also recently commented on GOLF. Compass Point raised Acushnet from a “neutral” rating to a “buy” rating and raised their price target for the company from $77.00 to $80.00 in a report on Tuesday, March 4th. Truist Financial upped their target price on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, November 8th. KeyCorp decreased their price target on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. cut Acushnet from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Acushnet has a consensus rating of “Hold” and a consensus price target of $72.80.

Acushnet Trading Up 3.1 %

Shares of Acushnet stock opened at $70.64 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. Acushnet has a 1 year low of $58.54 and a 1 year high of $76.65. The company’s fifty day moving average is $68.51 and its two-hundred day moving average is $67.64. The company has a market capitalization of $4.23 billion, a P/E ratio of 24.03 and a beta of 0.79.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $445.17 billion during the quarter, compared to analysts’ expectations of $454.83 million. Analysts forecast that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.235 per share. This is an increase from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Friday, March 7th. Acushnet’s payout ratio is currently 28.23%.

Institutional Trading of Acushnet

Several large investors have recently added to or reduced their stakes in GOLF. Blue Trust Inc. boosted its holdings in Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after acquiring an additional 176 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Acushnet in the fourth quarter worth $31,000. Prospera Private Wealth LLC bought a new stake in shares of Acushnet during the 3rd quarter valued at about $41,000. Lazard Asset Management LLC bought a new position in shares of Acushnet during the fourth quarter valued at approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in Acushnet by 39.6% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company’s stock worth $58,000 after buying an additional 232 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

About Acushnet

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.