Acushnet (NYSE:GOLF) Upgraded at Compass Point

Compass Point upgraded shares of Acushnet (NYSE:GOLF - Free Report) from a neutral rating to a buy rating in a report issued on Tuesday morning, Marketbeat.com reports. Compass Point currently has $80.00 target price on the stock, up from their previous target price of $77.00.

GOLF has been the topic of a number of other reports. KeyCorp decreased their price objective on Acushnet from $80.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Truist Financial upped their price target on Acushnet from $65.00 to $68.00 and gave the company a "hold" rating in a research note on Friday, November 8th. StockNews.com raised Acushnet from a "hold" rating to a "buy" rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. lowered shares of Acushnet from a "neutral" rating to an "underweight" rating and reduced their price objective for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $72.80.

Remove Ads

Acushnet Trading Down 0.3 %

NYSE:GOLF traded down $0.20 during trading hours on Tuesday, hitting $68.40. The company had a trading volume of 568,021 shares, compared to its average volume of 340,142. Acushnet has a 1 year low of $58.54 and a 1 year high of $76.65. The company has a market cap of $4.10 billion, a P/E ratio of 23.27 and a beta of 0.79. The company has a 50-day moving average of $68.55 and a 200 day moving average of $67.58. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. Sell-side analysts expect that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, March 7th. This is an increase from Acushnet's previous quarterly dividend of $0.22. Acushnet's payout ratio is currently 28.23%.

Hedge Funds Weigh In On Acushnet

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