Acushnet (NYSE:GOLF) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Acushnet (NYSE:GOLF) from a hold rating to a buy rating in a report issued on Friday morning.

A number of other analysts have also recently issued reports on the company. KeyCorp decreased their target price on Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Friday. JPMorgan Chase & Co. cut Acushnet from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. Finally, Truist Financial boosted their target price on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Acushnet presently has an average rating of “Hold” and a consensus price target of $72.00.

Acushnet Trading Down 0.9 %

Shares of GOLF stock opened at $64.29 on Friday. The firm has a 50-day moving average price of $69.06 and a 200 day moving average price of $67.60. Acushnet has a twelve month low of $58.54 and a twelve month high of $76.65. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 21.87 and a beta of 0.86. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF) last announced its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.31. The firm had revenue of $445.17 billion during the quarter, compared to the consensus estimate of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. Research analysts forecast that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a dividend of $0.235 per share. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, March 7th. Acushnet’s dividend payout ratio is currently 25.83%.

Institutional Investors Weigh In On Acushnet

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its position in shares of Acushnet by 100.6% during the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock valued at $25,000 after acquiring an additional 176 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Acushnet during the 4th quarter worth $31,000. Prospera Private Wealth LLC bought a new position in Acushnet during the 3rd quarter worth $41,000. Lazard Asset Management LLC bought a new position in Acushnet during the 4th quarter worth $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 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.