Acushnet (NYSE:GOLF) Upgraded at Zacks Research

Zacks Research upgraded shares of Acushnet (NYSE:GOLF) from a hold rating to a strong-buy rating in a report issued on Monday,Zacks.com reports.

Several other research firms also recently issued reports on GOLF. Roth Mkm reiterated a “neutral” rating and set a $80.00 price target on shares of Acushnet in a research note on Thursday, November 6th. Morgan Stanley lifted their price target on shares of Acushnet from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, January 15th. KeyCorp restated a “sector weight” rating on shares of Acushnet in a research note on Friday, January 16th. Truist Financial raised their target price on shares of Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Acushnet in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $79.83.

Acushnet Price Performance

GOLF opened at $92.92 on Monday. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 25.39 and a beta of 0.88. Acushnet has a 1 year low of $55.31 and a 1 year high of $94.18. The company has a current ratio of 2.42, a quick ratio of 1.30 and a debt-to-equity ratio of 1.03. The stock has a fifty day moving average price of $84.17 and a 200 day moving average price of $80.42.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm had revenue of $657.66 million for the quarter, compared to analysts’ expectations of $632.76 million. Acushnet had a return on equity of 27.50% and a net margin of 8.80%.The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the business earned $0.89 earnings per share. Analysts forecast that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, December 5th. Acushnet’s dividend payout ratio is currently 25.68%.

Insider Buying and Selling

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $84.66, for a total transaction of $1,693,200.00. Following the completion of the transaction, the insider directly owned 76,006 shares in the company, valued at $6,434,667.96. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Eugene Maher sold 26,939 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $79.33, for a total transaction of $2,137,070.87. Following the sale, the chief executive officer owned 852,092 shares of the company’s stock, valued at $67,596,458.36. This trade represents a 3.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 71,460 shares of company stock valued at $5,786,311. 53.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GOLF. Royal Bank of Canada grew its position in Acushnet by 6.6% during the 1st quarter. Royal Bank of Canada now owns 88,703 shares of the company’s stock worth $6,090,000 after acquiring an additional 5,510 shares during the last quarter. AQR Capital Management LLC boosted its stake in Acushnet by 2.5% in the first quarter. AQR Capital Management LLC now owns 19,498 shares of the company’s stock worth $1,339,000 after purchasing an additional 475 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Acushnet by 13.5% during the first quarter. Integrated Wealth Concepts LLC now owns 4,603 shares of the company’s stock worth $316,000 after purchasing an additional 548 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Acushnet by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,560 shares of the company’s stock valued at $1,137,000 after buying an additional 460 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Acushnet by 39.0% in the first quarter. Goldman Sachs Group Inc. now owns 249,807 shares of the company’s stock valued at $17,152,000 after buying an additional 70,095 shares during the last quarter. Institutional investors 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.