Acushnet (NYSE:GOLF) Downgraded by StockNews.com

StockNews.com downgraded shares of Acushnet (NYSE:GOLF – Get Rating) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Other research analysts also recently issued reports about the company. Morgan Stanley lowered their price target on Acushnet from $56.00 to $48.00 and set an equal weight rating on the stock in a report on Monday, April 25th. Truist Financial cut their target price on Acushnet from $48.00 to $44.00 and set a hold rating for the company in a research report on Monday, April 11th. Finally, KeyCorp cut their target price on Acushnet from $63.00 to $55.00 and set an overweight rating for the company in a research report on Thursday, March 3rd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $54.17.

GOLF opened at $40.60 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.13 and a current ratio of 1.97. Acushnet has a 52-week low of $37.46 and a 52-week high of $57.87. The stock has a market capitalization of $2.93 billion, a PE ratio of 17.35 and a beta of 0.76. The stock’s 50 day moving average price is $41.12 and its 200-day moving average price is $44.54.

Acushnet (NYSE:GOLF – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.30. The firm had revenue of $606.10 million for the quarter, compared to analysts’ expectations of $571.20 million. Acushnet had a return on equity of 15.47% and a net margin of 8.05%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.13 earnings per share. Research analysts forecast that Acushnet will post 2.78 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Friday, June 3rd were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Thursday, June 2nd. Acushnet’s dividend payout ratio is presently 30.77%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOLF. Northwestern Mutual Wealth Management Co. purchased a new position in Acushnet during the 4th quarter valued at approximately $25,000. Point72 Hong Kong Ltd purchased a new position in Acushnet during the 4th quarter valued at approximately $34,000. MUFG Americas Holdings Corp lifted its stake in shares of Acushnet by 154.1% in the 4th quarter. MUFG Americas Holdings Corp now owns 1,197 shares of the company’s stock valued at $64,000 after purchasing an additional 726 shares during the last quarter. Consolidated Planning Corp bought a new stake in shares of Acushnet in the 3rd quarter valued at approximately $89,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Acushnet by 10.5% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,649 shares of the company’s stock valued at $107,000 after purchasing an additional 251 shares during the last quarter. Institutional investors and hedge funds own 49.45% of the company’s stock.

Acushnet Company Profile (Get Rating)

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.

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