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 research note released on Saturday,Wall Street Zen reports.

Several other equities research analysts also recently commented on GOLF. Stephens reduced their target price on Acushnet from $88.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 14th. JPMorgan Chase & Co. lifted their price target on Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Weiss Ratings cut Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, September 28th. Finally, Roth Capital restated a “neutral” rating and set a $95.00 price objective on shares of Acushnet in a report on Friday, August 7th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $96.57.

Acushnet Trading Down 1.1%

Shares of Acushnet stock opened at $79.34 on Friday. The business has a fifty day simple moving average of $84.61 and a 200-day simple moving average of $94.28. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 21.62 and a beta of 0.79. Acushnet has a fifty-two week low of $75.16 and a fifty-two week high of $119.65. The company has a quick ratio of 1.48, a current ratio of 2.55 and a debt-to-equity ratio of 1.01.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Thursday, August 6th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.63 by $0.45. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The firm had revenue of $819.95 million for the quarter, compared to analysts’ expectations of $788.24 million. During the same period in the previous year, the business earned $1.25 earnings per share. Acushnet’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities analysts forecast that Acushnet will post 4.02 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were given a $0.2550 dividend. This represents a $1.02 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, September 4th. Acushnet’s dividend payout ratio is presently 27.79%.

Institutional Trading of Acushnet

Several large investors have recently added to or reduced their stakes in the business. Millstone Evans Group LLC raised its holdings in shares of Acushnet by 170.2% during the 1st quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock valued at $26,000 after purchasing an additional 177 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Acushnet in the second quarter worth $36,000. Kelleher Financial Advisors bought a new stake in Acushnet in the second quarter worth $42,000. Public Employees Retirement System of Ohio bought a new stake in Acushnet in the second quarter worth $52,000. Finally, EverSource Wealth Advisors LLC increased its position in Acushnet by 43.8% during the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the company’s stock worth $50,000 after buying an additional 163 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

Acushnet Company Profile

Acushnet Holdings Corp. is a golf equipment and performance-wear company headquartered in Fairhaven, Massachusetts. Through a portfolio of recognized brands, the company develops, manufactures and markets products used by golfers and golf facilities worldwide.

Its principal brands include Titleist, which offers golf balls, clubs, golf bags, gloves and accessories; FootJoy, which specializes in golf footwear, apparel and gloves; Scotty Cameron, known for premium putters and related accessories; and KJUS, which produces high-performance golf and outdoor apparel.