Stephens upgraded shares of Acushnet (NYSE:GOLF – Free Report) to a hold rating in a report published on Tuesday,Zacks reports.
Several other equities analysts have also commented on GOLF. Wall Street Zen raised Acushnet from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. increased their price objective on shares of Acushnet from $96.00 to $118.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Truist Financial lifted their price objective on shares of Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research note on Tuesday, May 19th. Finally, Roth Capital reissued a “neutral” rating and set a $95.00 target price on shares of Acushnet in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $97.57.
Read Our Latest Analysis on GOLF
Acushnet Trading Down 0.3%
Acushnet (NYSE:GOLF – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.45. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.The company had revenue of $819.95 million for the quarter, compared to analysts’ expectations of $788.24 million. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. Research analysts predict that Acushnet will post 4.02 earnings per share for the current fiscal year.
Acushnet Announces Dividend
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 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 4th. Acushnet’s payout ratio is presently 27.79%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Acushnet during the 2nd quarter worth approximately $496,463,000. Capital Research Global Investors boosted its stake in shares of Acushnet by 8.5% during the 4th quarter. Capital Research Global Investors now owns 1,465,000 shares of the company’s stock valued at $116,936,000 after buying an additional 115,000 shares during the last quarter. Neumeier Poma Investment Counsel LLC boosted its stake in shares of Acushnet by 51.7% during the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 384,424 shares of the company’s stock valued at $30,685,000 after buying an additional 130,990 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Acushnet during the second quarter worth approximately $31,800,000. Finally, Kennedy Capital Management LLC grew its position in shares of Acushnet by 11.5% during the fourth quarter. Kennedy Capital Management LLC now owns 217,803 shares of the company’s stock worth $17,385,000 after buying an additional 22,424 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.
About Acushnet
Acushnet Holdings Corp. develops, manufactures and distributes golf equipment, apparel and accessories. The company’s portfolio includes golf balls, clubs, wedges, putters, golf gloves, footwear, clothing, bags and other products serving recreational and professional golfers.
Acushnet’s principal brands include Titleist, known for golf balls and equipment; FootJoy, which offers golf footwear, gloves and apparel; and Scotty Cameron, which designs premium putters. The company also markets products under brands including Vokey Design, KJUS and Linksoul.
Founded in 1910, Acushnet is headquartered in Fairhaven, Massachusetts, and serves customers through a global network of retailers, golf courses, distributors and direct-to-consumer channels.
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