Acushnet (NYSE:GOLF) Lowered to Hold Rating by StockNews.com

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

A number of other analysts have also issued reports on the company. Truist Financial raised their price target on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lowered Acushnet from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. KeyCorp decreased their price target on Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, Compass Point raised Acushnet from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $77.00 to $80.00 in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.80.

Acushnet Trading Down 0.3 %

Acushnet stock opened at $68.40 on Friday. The stock has a market cap of $4.10 billion, a PE ratio of 23.27 and a beta of 0.79. The stock has a 50-day moving average price of $68.51 and a 200 day moving average price of $67.61. Acushnet has a 52 week low of $58.54 and a 52 week high of $76.65. 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 posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) EPS 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 firm had revenue of $445.17 billion during the quarter, compared to analysts’ expectations of $454.83 million. Equities research analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.235 dividend. 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 1.37%. The ex-dividend date is Friday, March 7th. Acushnet’s payout ratio is currently 28.23%.

Institutional Investors Weigh In On Acushnet

Several hedge funds have recently modified their holdings of GOLF. US Bancorp DE raised its holdings in shares of Acushnet by 8.2% during the 3rd quarter. US Bancorp DE now owns 9,897 shares of the company’s stock valued at $631,000 after buying an additional 753 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Acushnet by 6.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock valued at $64,632,000 after buying an additional 63,294 shares during the period. Olympiad Research LP purchased a new stake in shares of Acushnet during the 3rd quarter valued at about $232,000. Atria Investments Inc raised its holdings in shares of Acushnet by 7.5% during the 3rd quarter. Atria Investments Inc now owns 23,622 shares of the company’s stock valued at $1,506,000 after buying an additional 1,650 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Acushnet during the 3rd quarter valued at about $654,000. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

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.