StockNews.com Downgrades Acushnet (NYSE:GOLF) to Hold

StockNews.com cut shares of Acushnet (NYSE:GOLF - Free Report) from a buy rating to a hold rating in a report published on Saturday morning.

Several other equities analysts have also commented on the stock. Compass Point raised shares of Acushnet from a "neutral" rating to a "buy" rating and increased their price objective for the company from $77.00 to $80.00 in a research report on Tuesday. Truist Financial increased their price objective on shares of Acushnet from $65.00 to $68.00 and gave the company a "hold" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. downgraded shares of Acushnet from a "neutral" rating to an "underweight" rating and cut their price target for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. Finally, KeyCorp cut their price target on shares of Acushnet from $80.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Acushnet has a consensus rating of "Hold" and an average price target of $72.80.

Acushnet Stock Down 0.3 %

Shares of GOLF stock traded down $0.20 during mid-day trading on Friday, hitting $68.40. 568,021 shares of the stock traded hands, compared to its average volume of 340,576. The stock has a market cap of $4.10 billion, a P/E ratio of 23.27 and a beta of 0.79. The stock's fifty day moving average is $68.51 and its two-hundred day moving average is $67.59. Acushnet has a 52-week low of $58.54 and a 52-week high of $76.65. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14.

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Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) EPS 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 analyst estimates of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. Equities analysts predict that Acushnet will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The firm also recently declared 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 yield of 1.37%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Acushnet's previous quarterly dividend of $0.22. Acushnet's dividend payout ratio is 28.23%.

Institutional Investors Weigh In On Acushnet

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of Acushnet by 100.6% during the 4th quarter. Blue Trust Inc. now owns 351 shares of the company's stock worth $25,000 after purchasing an additional 176 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Acushnet during the 4th quarter worth approximately $31,000. Prospera Private Wealth LLC acquired a new stake in shares of Acushnet during the 3rd quarter worth approximately $41,000. Lazard Asset Management LLC acquired a new stake in shares of Acushnet during the 4th quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of 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 purchasing an additional 232 shares during the period. Institutional investors and hedge funds 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.