Acushnet (NYSE:GOLF) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Acushnet (NYSE:GOLF) from a hold rating to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

Several other equities research analysts have also commented on GOLF. KeyCorp restated a “sector weight” rating on shares of Acushnet in a research note on Friday. Roth Capital reissued a “neutral” rating and set a $80.00 price target on shares of Acushnet in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, October 8th. Morgan Stanley lifted their price objective on Acushnet from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, January 15th. Finally, Truist Financial increased their target price on shares of Acushnet from $65.00 to $74.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Acushnet has an average rating of “Hold” and a consensus price target of $79.83.

Acushnet Price Performance

Shares of NYSE:GOLF opened at $90.43 on Monday. The company has a quick ratio of 1.30, a current ratio of 2.42 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $5.30 billion, a PE ratio of 24.71 and a beta of 0.88. The firm’s 50 day moving average price is $83.94 and its 200-day moving average price is $80.33. Acushnet has a twelve month low of $55.31 and a twelve month high of $94.18.

Acushnet (NYSE:GOLF) last announced its earnings results on Wednesday, November 5th. The company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The business had revenue of $657.66 million for the quarter, compared to analysts’ expectations of $632.76 million. During the same period in the prior year, the company posted $0.89 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Equities research analysts expect that Acushnet will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, December 5th. Acushnet’s dividend payout ratio (DPR) is 25.68%.

Insider Buying and Selling

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $84.66, for a total value of $1,693,200.00. Following the completion of the transaction, the insider directly owned 76,006 shares in the company, valued at $6,434,667.96. This represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Eugene Maher sold 26,939 shares of Acushnet stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $79.33, for a total transaction of $2,137,070.87. Following the sale, the chief executive officer owned 852,092 shares in the company, valued at approximately $67,596,458.36. The trade was a 3.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 71,460 shares of company stock worth $5,786,311. 53.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Acushnet

Several large investors have recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH grew its holdings in Acushnet by 11.9% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 2,930 shares of the company’s stock valued at $234,000 after buying an additional 312 shares in the last quarter. Curated Wealth Partners LLC boosted its position in shares of Acushnet by 28.3% during the 4th quarter. Curated Wealth Partners LLC now owns 10,147 shares of the company’s stock valued at $810,000 after acquiring an additional 2,239 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Acushnet in the fourth quarter valued at $216,000. GAMMA Investing LLC grew its holdings in shares of Acushnet by 8.4% in the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $149,000 after purchasing an additional 144 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in Acushnet in the third quarter worth $5,382,000. 53.12% of the stock is owned by institutional investors.

Acushnet Company Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.