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 report issued on Tuesday, Marketbeat.com reports. The brokerage currently has $75.00 price target on the stock, down from their previous price target of $86.00.

A number of other equities analysts have also recently issued reports on the stock. Compass Point lowered their price objective on shares of Acushnet from $78.00 to $76.00 and set a buy rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Acushnet from $62.00 to $63.00 and gave the stock a neutral rating in a research report on Tuesday, May 28th. Finally, Truist Financial upped their price objective on shares of Acushnet from $63.00 to $65.00 and gave the stock a hold rating in a research report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $67.43.

Acushnet Stock Performance

Shares of Acushnet stock opened at $63.36 on Tuesday. The company has a 50 day moving average of $66.95 and a 200-day moving average of $64.80. Acushnet has a 1-year low of $49.42 and a 1-year high of $74.77. The company has a current ratio of 2.28, a quick ratio of 1.27 and a debt-to-equity ratio of 0.81. The company has a market cap of $4.00 billion, a PE ratio of 22.00 and a beta of 0.85.

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). Acushnet had a return on equity of 21.17% and a net margin of 7.91%. The firm had revenue of $683.90 million for the quarter, compared to the consensus estimate of $709.83 million. During the same period last year, the company posted $1.09 EPS. The business’s revenue was down .8% on a year-over-year basis. As a group, equities research analysts forecast that Acushnet will post 3.02 earnings per share for the current fiscal year.

Acushnet Announces Dividend

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

Insider Buying and Selling at Acushnet

In other Acushnet news, Director Holdings Corp. Fila sold 587,520 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total value of $37,501,401.60. Following the completion of the transaction, the director now directly owns 32,522,966 shares in the company, valued at approximately $2,075,940,919.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 54.60% of the company’s stock.

Institutional Investors Weigh In On Acushnet

Several large investors have recently modified their holdings of GOLF. New Covenant Trust Company N.A. acquired a new stake in shares of Acushnet during the first quarter worth $27,000. Principal Securities Inc. acquired a new stake in shares of Acushnet during the fourth quarter worth $37,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Acushnet by 101.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock worth $76,000 after buying an additional 585 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Acushnet during the second quarter worth $83,000. Finally, Crestwood Advisors Group LLC bought a new position in Acushnet during the second quarter worth $200,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

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.