Acushnet (NYSE:GOLF) Upgraded by JPMorgan Chase & Co. to “Neutral” Rating

JPMorgan Chase & Co. upgraded shares of Acushnet (NYSE:GOLF) from an underweight rating to a neutral rating in a research report report published on Friday morning, MarketBeat Ratings reports. They currently have $96.00 price objective on the stock, up from their prior price objective of $74.00.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley boosted their price objective on shares of Acushnet from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Acushnet in a research note on Wednesday. Roth Mkm reaffirmed a “neutral” rating and set a $80.00 price target on shares of Acushnet in a report on Thursday, November 6th. Zacks Research upgraded Acushnet from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. Finally, KeyCorp reissued a “sector weight” rating on shares of Acushnet in a research report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Acushnet currently has an average rating of “Hold” and a consensus target price of $84.33.

Acushnet Price Performance

Shares of NYSE:GOLF opened at $94.22 on Friday. The business has a fifty day moving average price of $84.72 and a 200-day moving average price of $80.63. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.42 and a quick ratio of 1.30. The company has a market capitalization of $5.53 billion, a PE ratio of 25.74 and a beta of 0.88. Acushnet has a 1-year low of $55.31 and a 1-year high of $95.64.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.81 EPS for the quarter, missing the consensus estimate 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 net margin of 8.80% and a return on equity of 27.50%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $0.89 earnings per share. As a group, equities analysts expect that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, December 5th. Acushnet’s dividend payout ratio (DPR) is presently 25.68%.

Insider Transactions at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $84.66, for a total transaction of $1,693,200.00. Following the completion of the sale, the insider owned 76,006 shares of the company’s stock, valued at $6,434,667.96. This represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Eugene Maher sold 26,939 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 852,092 shares in the company, valued at $67,596,458.36. This trade represents a 3.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 71,460 shares of company stock valued at $5,786,311. Corporate insiders own 53.60% of the company’s stock.

Institutional Investors Weigh In On Acushnet

A number of hedge funds have recently modified their holdings of GOLF. Brown Brothers Harriman & Co. increased its stake in shares of Acushnet by 389.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after purchasing an additional 261 shares in the last quarter. Kelleher Financial Advisors purchased a new stake in Acushnet in the third quarter worth about $28,000. EverSource Wealth Advisors LLC raised its stake in shares of Acushnet by 149.7% in the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after buying an additional 295 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Acushnet by 83.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock valued at $39,000 after buying an additional 246 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Acushnet by 57.3% during the 3rd quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after acquiring an additional 184 shares during the period. 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.