Acushnet (NYSE:GOLF) Upgraded at Wall Street Zen

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

Several other research analysts have also recently commented on GOLF. JPMorgan Chase & Co. raised their target price on Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Weiss Ratings raised shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Roth Capital restated a “neutral” rating and issued a $95.00 price objective on shares of Acushnet in a research note on Friday, August 7th. Finally, Truist Financial raised their price objective on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a report on Tuesday, May 19th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $99.17.

Acushnet Stock Performance

NYSE:GOLF opened at $90.76 on Friday. The firm’s 50-day moving average is $105.26 and its 200-day moving average is $98.47. Acushnet has a 52-week low of $73.09 and a 52-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 company has a market cap of $5.30 billion, a price-to-earnings ratio of 24.73 and a beta of 0.81.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Thursday, August 6th. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.45. The company had revenue of $819.95 million for the quarter, compared to analyst estimates of $788.24 million. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.Acushnet’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 EPS. Equities research analysts anticipate that Acushnet will post 3.99 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, September 4th. Acushnet’s dividend payout ratio is currently 27.79%.

Insider Buying and Selling

In other Acushnet news, insider Nicholas N. Mohamed sold 529 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total value of $50,255.00. Following the sale, the insider directly owned 2,868 shares in the company, valued at $272,460. This represents a 15.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Steven Francis Pelisek sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $91.26, for a total value of $1,368,900.00. Following the completion of the sale, the insider owned 70,512 shares in the company, valued at $6,434,925.12. This trade represents a 17.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GOLF. BlackRock Inc. acquired a new stake in shares of Acushnet in the 2nd quarter valued at $496,463,000. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Acushnet during the 2nd quarter worth about $45,290,194,000. Bank of New York Mellon Corp acquired a new stake in shares of Acushnet during the 2nd quarter worth about $31,800,000. Morgan Stanley increased its position in shares of Acushnet by 22.3% during the 4th quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock worth $110,091,000 after purchasing an additional 251,889 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in Acushnet during the 2nd quarter valued at about $19,732,000. 53.12% of the stock is owned by institutional investors.

About Acushnet

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.