Acushnet (NYSE:GOLF) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Acushnet (NYSE:GOLF) from a buy rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

GOLF has been the topic of a number of other research reports. Weiss Ratings lowered Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, September 28th. Roth Capital restated a “neutral” rating and set a $95.00 price target on shares of Acushnet in a research report on Friday, August 7th. Finally, Stephens lowered their price target on Acushnet from $88.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $97.67.

Acushnet Price Performance

Shares of GOLF opened at $84.62 on Friday. The firm has a 50-day simple moving average of $83.12 and a two-hundred day simple moving average of $94.00. The stock has a market cap of $4.94 billion, a PE ratio of 21.63 and a beta of 0.77. Acushnet has a 1-year low of $76.96 and a 1-year high of $119.65. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.02 and a quick ratio of 1.48.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.15). The company had revenue of $649.23 million during the quarter, compared to analyst estimates of $647.99 million. Acushnet had a return on equity of 27.92% and a net margin of 8.17%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 earnings per share. As a group, analysts forecast that Acushnet will post 3.92 EPS for the current year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a $0.2550 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.02 annualized dividend and a dividend yield of 1.2%. Acushnet’s dividend payout ratio (DPR) is presently 27.64%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GOLF. Bessemer Group Inc. boosted its position in Acushnet by 3.2% in the 3rd quarter. Bessemer Group Inc. now owns 134,098 shares of the company’s stock valued at $11,064,000 after buying an additional 4,159 shares during the period. R Squared Ltd acquired a new position in shares of Acushnet in the third quarter worth $207,000. Maryland State Retirement & Pension System grew its stake in shares of Acushnet by 54.2% in the third quarter. Maryland State Retirement & Pension System now owns 6,179 shares of the company’s stock worth $510,000 after acquiring an additional 2,172 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Acushnet by 4.2% during the third quarter. Illinois Municipal Retirement Fund now owns 14,194 shares of the company’s stock worth $1,171,000 after acquiring an additional 572 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Acushnet by 652.7% during the third quarter. Parallel Advisors LLC now owns 828 shares of the company’s stock worth $68,000 after acquiring an additional 718 shares during the period. Institutional investors and hedge funds own 53.12% of the company’s stock.

About Acushnet