Acushnet (NYSE:GOLF) Upgraded at Compass Point

Compass Point upgraded shares of Acushnet (NYSE:GOLF) from a neutral rating to a buy rating in a research note published on Tuesday, Marketbeat.com reports. They currently have $80.00 price target on the stock, up from their prior price target of $77.00.

A number of other research firms have also recently commented on GOLF. StockNews.com raised shares of Acushnet from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. Truist Financial boosted their target price on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Finally, KeyCorp reduced their target price on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $72.80.

Acushnet Price Performance

GOLF opened at $68.71 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. Acushnet has a 52-week low of $58.54 and a 52-week high of $76.65. The company has a 50 day moving average of $68.55 and a two-hundred day moving average of $67.58. The company has a market cap of $4.12 billion, a P/E ratio of 23.37 and a beta of 0.79.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $445.17 billion during the quarter, compared to the consensus estimate of $454.83 million. On average, analysts expect that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The business 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. The ex-dividend date is Friday, March 7th. This is a boost from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a yield of 1.37%. Acushnet’s dividend payout ratio is currently 28.23%.

Institutional Trading of Acushnet

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings in Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock valued at $25,000 after acquiring an additional 176 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Acushnet during the fourth quarter worth $31,000. Prospera Private Wealth LLC acquired a new stake in shares of Acushnet during the third quarter worth $41,000. Lazard Asset Management LLC acquired a new stake in shares of Acushnet during the fourth quarter worth $51,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Acushnet by 39.6% during the fourth 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. 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.