Acushnet (NYSE:GOLF) Price Target Raised to $68.00

Acushnet (NYSE:GOLF) had its price objective boosted by Truist Financial from $65.00 to $68.00 in a research report released on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

GOLF has been the topic of several other reports. Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and cut their price objective for the company from $86.00 to $75.00 in a research report on Tuesday, September 17th. Compass Point lowered their price objective on Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Acushnet has an average rating of “Hold” and an average price target of $71.40.

Acushnet Trading Down 0.3 %

GOLF opened at $72.30 on Friday. The stock has a market cap of $4.47 billion, a PE ratio of 24.59 and a beta of 0.85. The business has a 50 day moving average of $63.84 and a 200-day moving average of $64.78. Acushnet has a 52 week low of $53.68 and a 52 week high of $76.38. The company has a quick ratio of 1.27, a current ratio of 2.28 and a debt-to-equity ratio of 0.81.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Acushnet had a net margin of 7.78% and a return on equity of 21.40%. The company had revenue of $620.50 million during the quarter, compared to analysts’ expectations of $620.40 million. During the same period last year, the company posted $0.85 EPS. Acushnet’s revenue was up 4.6% on a year-over-year basis. Equities research analysts predict that Acushnet will post 3.01 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, December 6th. Acushnet’s dividend payout ratio (DPR) is presently 29.25%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GOLF. BNP Paribas Financial Markets boosted its holdings in shares of Acushnet by 3.2% in the first quarter. BNP Paribas Financial Markets now owns 40,636 shares of the company’s stock worth $2,680,000 after buying an additional 1,243 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Acushnet by 15.1% in the first quarter. Janney Montgomery Scott LLC now owns 4,502 shares of the company’s stock worth $297,000 after buying an additional 591 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Acushnet in the first quarter worth about $1,842,000. SG Americas Securities LLC purchased a new position in shares of Acushnet during the 1st quarter valued at about $318,000. Finally, Sei Investments Co. grew its stake in shares of Acushnet by 29.0% during the 1st quarter. Sei Investments Co. now owns 96,624 shares of the company’s stock valued at $6,372,000 after acquiring an additional 21,730 shares during the period. 53.12% of the stock is owned by hedge funds and other institutional investors.

About Acushnet

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.