Acushnet (NYSE:GOLF) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Acushnet (NYSE:GOLF) from a hold rating to a buy rating in a research note published on Saturday.

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

Acushnet Stock Performance

Shares of NYSE GOLF opened at $89.76 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.55 and a quick ratio of 1.48. Acushnet has a one year low of $73.09 and a one year high of $119.65. The business’s 50-day moving average price is $105.26 and its two-hundred day moving average price is $98.47. The company has a market capitalization of $5.24 billion, a P/E ratio of 24.46 and a beta of 0.81.

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

Acushnet Dividend Announcement

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

Insider Transactions at Acushnet

In other news, insider Steven Francis Pelisek sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total value of $1,368,900.00. Following the sale, the insider directly owned 70,512 shares in the company, valued at approximately $6,434,925.12. This represents a 17.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nicholas N. Mohamed sold 529 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 2,868 shares of the company’s stock, valued at approximately $272,460. The trade was a 15.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 53.30% of the company’s stock.

Institutional Trading of Acushnet

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Acushnet in the 2nd quarter worth approximately $496,463,000. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Acushnet in the 2nd quarter valued at $45,290,194,000. Bank of New York Mellon Corp acquired a new stake in shares of Acushnet in the 2nd quarter valued at $31,800,000. Morgan Stanley raised its position in shares of Acushnet by 22.3% during the fourth quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock worth $110,091,000 after acquiring an additional 251,889 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of Acushnet by 668.1% during the fourth quarter. M&T Bank Corp now owns 159,874 shares of the company’s stock worth $12,761,000 after acquiring an additional 139,060 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

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.