Acushnet (NYSE:GOLF) Downgraded to Neutral Rating by Compass Point

Compass Point cut shares of Acushnet (NYSE:GOLF) from a buy rating to a neutral rating in a research note released on Monday morning, Marketbeat reports. Compass Point currently has $71.00 price objective on the stock, down from their prior price objective of $80.00.

GOLF has been the topic of several other reports. JPMorgan Chase & Co. downgraded shares of Acushnet from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. StockNews.com downgraded Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. KeyCorp dropped their price objective on Acushnet from $77.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, Truist Financial decreased their target price on Acushnet from $68.00 to $64.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $68.80.

Acushnet Trading Down 1.0 %

NYSE:GOLF opened at $65.87 on Monday. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 22.41 and a beta of 0.90. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The business has a fifty day moving average price of $64.24 and a 200-day moving average price of $67.41. Acushnet has a one year low of $55.31 and a one year high of $76.65.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.31. The firm had revenue of $445.17 billion for the quarter, compared to analysts’ expectations of $454.83 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. Sell-side analysts forecast that Acushnet will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.235 dividend. This is a boost from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Friday, March 7th. Acushnet’s dividend payout ratio (DPR) is presently 28.23%.

Insider Activity at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the completion of the sale, the insider now directly owns 96,006 shares of the company’s stock, valued at approximately $6,802,985.16. This trade represents a 17.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 54.60% of the stock is owned by insiders.

Institutional Trading of Acushnet

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in Acushnet by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company’s stock valued at $107,097,000 after buying an additional 5,661 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Acushnet by 7.9% during the first quarter. Principal Financial Group Inc. now owns 1,104,699 shares of the company’s stock valued at $75,849,000 after acquiring an additional 80,676 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Acushnet by 5.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company’s stock valued at $76,654,000 after purchasing an additional 54,314 shares during the period. Raymond James Financial Inc. bought a new position in Acushnet in the fourth quarter worth approximately $62,713,000. Finally, Lord Abbett & CO. LLC purchased a new position in Acushnet during the 4th quarter worth $28,641,000. 53.12% of the stock is owned by hedge funds and other institutional investors.

Acushnet Company Profile

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.