Acushnet (NYSE:GOLF) Hits New 12-Month Low - Here's Why

Acushnet Holdings Corp. (NYSE:GOLF - Get Free Report)'s stock price hit a new 52-week low on Thursday . The stock traded as low as $55.31 and last traded at $62.00, with a volume of 967838 shares changing hands. The stock had previously closed at $56.27.

Analysts Set New Price Targets

Several research analysts have commented on the stock. KeyCorp decreased their target price on shares of Acushnet from $80.00 to $77.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Compass Point raised Acushnet from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $77.00 to $80.00 in a report on Tuesday, March 4th. JPMorgan Chase & Co. downgraded Acushnet from a "neutral" rating to an "underweight" rating and cut their target price for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. Truist Financial lowered their price target on Acushnet from $68.00 to $64.00 and set a "hold" rating on the stock in a report on Monday. Finally, StockNews.com downgraded shares of Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $72.00.

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Acushnet Stock Performance

The company has a fifty day moving average price of $65.34 and a two-hundred day moving average price of $67.47. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 20.67 and a beta of 0.84. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings data 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. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. As a group, equities research analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, March 7th. 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 1.55%. Acushnet's dividend payout ratio (DPR) is currently 28.23%.

Insider Transactions at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the transaction, the insider now owns 96,006 shares of the company's stock, valued at approximately $6,802,985.16. This trade represents a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 54.60% of the stock is owned by insiders.

Institutional Trading of Acushnet

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in Acushnet by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company's stock worth $107,097,000 after acquiring an additional 5,661 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Acushnet by 5.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company's stock worth $76,654,000 after purchasing an additional 54,314 shares during the period. Principal Financial Group Inc. increased its stake in Acushnet by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company's stock valued at $72,783,000 after buying an additional 10,166 shares during the period. Raymond James Financial Inc. acquired a new position in Acushnet in the 4th quarter valued at approximately $62,713,000. Finally, Lord Abbett & CO. LLC purchased a new stake in Acushnet in the 4th quarter worth approximately $28,641,000. Hedge funds and other institutional investors own 53.12% of the company's stock.

Acushnet Company Profile

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.