Acushnet (NYSE:GOLF) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Acushnet (NYSE:GOLF) from a buy rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

Several other equities analysts have also recently commented on the stock. Roth Capital restated a “neutral” rating and issued a $95.00 target price on shares of Acushnet in a research report on Friday, August 7th. Stephens assumed coverage on shares of Acushnet in a research note on Tuesday. They issued an “equal weight” rating and a $88.00 price objective on the stock. Weiss Ratings raised shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Acushnet from $96.00 to $118.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Acushnet presently has an average rating of “Hold” and a consensus price target of $97.57.

Acushnet Stock Performance

NYSE:GOLF opened at $80.61 on Friday. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 21.97 and a beta of 0.80. Acushnet has a fifty-two week low of $73.09 and a fifty-two week high of $119.65. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.48 and a current ratio of 2.55. The stock has a fifty day moving average price of $94.39 and a 200-day moving average price of $96.15.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Thursday, August 6th. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.45. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.The business had revenue of $819.95 million during the quarter, compared to the consensus estimate of $788.24 million. During the same quarter in the previous year, the firm earned $1.25 earnings per share. Acushnet’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities analysts anticipate that Acushnet will post 4.02 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were given a $0.255 dividend. The ex-dividend date was Friday, September 4th. This represents a $1.02 annualized dividend and a yield of 1.3%. Acushnet’s dividend payout ratio (DPR) is currently 27.79%.

Institutional Trading of Acushnet

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Acushnet during the 2nd quarter worth approximately $496,463,000. EFG International AG bought a new stake in Acushnet during the 2nd quarter worth approximately $4,994,000. Fifth Third Bancorp increased its position in Acushnet by 36,310.7% in the 1st quarter. Fifth Third Bancorp now owns 27,308 shares of the company’s stock valued at $2,553,000 after acquiring an additional 27,233 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Acushnet in the 2nd quarter valued at approximately $1,723,000. Finally, Deutsche Bank AG bought a new position in shares of Acushnet during the second quarter valued at $3,932,000. 53.12% of the stock is currently owned by institutional investors.

Acushnet Company Profile

Acushnet Holdings Corp. develops, manufactures and distributes golf equipment, apparel and accessories. The company’s portfolio includes golf balls, clubs, wedges, putters, golf gloves, footwear, clothing, bags and other products serving recreational and professional golfers.

Acushnet’s principal brands include Titleist, known for golf balls and equipment; FootJoy, which offers golf footwear, gloves and apparel; and Scotty Cameron, which designs premium putters. The company also markets products under brands including Vokey Design, KJUS and Linksoul.

Founded in 1910, Acushnet is headquartered in Fairhaven, Massachusetts, and serves customers through a global network of retailers, golf courses, distributors and direct-to-consumer channels.