Acushnet (NYSE:GOLF) Upgraded to "Buy" at StockNews.com

StockNews.com upgraded shares of Acushnet (NYSE:GOLF - Free Report) from a hold rating to a buy rating in a research note published on Friday.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered shares of Acushnet from a "neutral" rating to an "underweight" rating and lowered their target price for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. KeyCorp lowered their price objective on shares of Acushnet from $80.00 to $77.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Truist Financial lifted their price objective on Acushnet from $65.00 to $68.00 and gave the company a "hold" rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Acushnet presently has a consensus rating of "Hold" and an average target price of $72.80.

Acushnet Trading Up 1.1 %

GOLF stock traded up $0.70 during trading on Friday, reaching $64.82. 528,054 shares of the stock were exchanged, compared to its average volume of 338,314. The business has a 50 day moving average price of $68.82 and a 200-day moving average price of $67.59. Acushnet has a 1 year low of $58.54 and a 1 year 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. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 22.05 and a beta of 0.86.

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Acushnet (NYSE:GOLF - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.33) by $0.31. The company had revenue of $445.17 billion for the quarter, compared to the consensus estimate of $454.83 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. On average, research analysts predict that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a $0.235 dividend. This is an increase from Acushnet's previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 7th. This represents a $0.94 annualized dividend and a dividend yield of 1.45%. Acushnet's payout ratio is 25.83%.

Institutional Trading of Acushnet

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Acushnet during the 4th quarter worth $62,713,000. Jane Street Group LLC boosted its stake in shares of Acushnet by 702.1% in the 3rd quarter. Jane Street Group LLC now owns 508,705 shares of the company's stock valued at $32,430,000 after buying an additional 445,281 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Acushnet during the fourth quarter worth about $28,641,000. Norges Bank purchased a new stake in shares of Acushnet during the fourth quarter worth approximately $14,825,000. Finally, Point72 Asset Management L.P. raised its holdings in Acushnet by 258.9% in the third quarter. Point72 Asset Management L.P. now owns 266,200 shares of the company's stock valued at $16,970,000 after acquiring an additional 192,034 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.

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.