Acushnet (NYSE:GOLF) Rating Lowered to Hold at Jefferies Financial Group

Jefferies Financial Group cut shares of Acushnet (NYSE:GOLF) from a buy rating to a hold rating in a research report report published on Tuesday morning, MarketBeat reports. Jefferies Financial Group currently has $75.00 target price on the stock, down from their prior target price of $86.00.

A number of other brokerages have also weighed in on GOLF. Truist Financial raised their price target on shares of Acushnet from $63.00 to $65.00 and gave the company a hold rating in a research note on Wednesday, August 7th. Compass Point decreased their price target on shares of Acushnet from $78.00 to $76.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Acushnet from $62.00 to $63.00 and gave the company a neutral rating in a research note on Tuesday, May 28th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $67.43.

Acushnet Price Performance

NYSE:GOLF opened at $63.37 on Tuesday. Acushnet has a 52 week low of $49.42 and a 52 week high of $74.77. The company has a quick ratio of 1.27, a current ratio of 2.28 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $4.00 billion, a PE ratio of 22.00 and a beta of 0.85. The stock’s 50-day moving average price is $67.03 and its 200-day moving average price is $64.77.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). The company had revenue of $683.90 million during the quarter, compared to analysts’ expectations of $709.83 million. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 earnings per share. As a group, equities analysts expect that Acushnet will post 3.02 EPS for the current fiscal year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Friday, September 6th. Acushnet’s dividend payout ratio (DPR) is 29.86%.

Insiders Place Their Bets

In other Acushnet news, Director Holdings Corp. Fila sold 1,110,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.19, for a total value of $71,250,900.00. Following the transaction, the director now directly owns 31,412,966 shares of the company’s stock, valued at approximately $2,016,398,287.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 54.60% of the company’s stock.

Institutional Trading of Acushnet

A number of hedge funds and other institutional investors have recently made changes to their positions in GOLF. Victory Capital Management Inc. increased its holdings in shares of Acushnet by 871.1% during the 2nd quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock worth $62,948,000 after buying an additional 889,515 shares during the last quarter. Norges Bank acquired a new stake in Acushnet in the 4th quarter valued at approximately $21,945,000. Edgestream Partners L.P. acquired a new stake in Acushnet in the 1st quarter valued at approximately $8,754,000. Thornburg Investment Management Inc. acquired a new stake in Acushnet in the 2nd quarter valued at approximately $7,794,000. Finally, Eagle Asset Management Inc. acquired a new stake in Acushnet in the 4th quarter valued at approximately $7,673,000. Institutional investors and hedge funds 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.