Acushnet (NYSE:GOLF) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Acushnet (NYSE:GOLF) from a buy rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also recently weighed in on the company. Roth Capital reiterated a “neutral” rating and set a $95.00 price target on shares of Acushnet in a report on Friday, August 7th. Weiss Ratings lowered shares of Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, September 28th. Finally, Stephens decreased their target price on shares of Acushnet from $88.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $97.67.

Acushnet Trading Down 3.3%

GOLF opened at $80.88 on Friday. The stock has a market capitalization of $4.63 billion, a PE ratio of 21.92 and a beta of 0.77. Acushnet has a one year low of $76.96 and a one year high of $119.65. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.48 and a current ratio of 2.02. The business’s 50 day moving average price is $83.16 and its 200 day moving average price is $94.04.

Acushnet (NYSE:GOLF) last posted its earnings results on Wednesday, November 4th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.15). Acushnet had a return on equity of 27.92% and a net margin of 8.17%. The business had revenue of $649.23 million for the quarter, compared to analyst estimates of $647.99 million. During the same period last year, the business earned $0.81 EPS. Acushnet’s revenue was down 1.3% compared to the same quarter last year. As a group, equities research analysts expect that Acushnet will post 3.92 EPS for the current year.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a dividend of $0.2550 per share. The ex-dividend date is Friday, December 4th. This represents a $1.02 dividend on an annualized basis and a yield of 1.3%. Acushnet’s dividend payout ratio is 27.64%.

Institutional Trading of Acushnet

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Acushnet in the 2nd quarter valued at $496,463,000. Neumeier Poma Investment Counsel LLC acquired a new position in shares of Acushnet during the second quarter worth $45,290,194. Bank of New York Mellon Corp acquired a new position in shares of Acushnet during the second quarter worth $31,800,000. Bank of America Corp DE purchased a new position in Acushnet in the second quarter valued at $19,732,000. Finally, Callan Family Office LLC purchased a new position in Acushnet in the second quarter valued at $10,271,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

About Acushnet

Acushnet Holdings Corp. is a golf equipment and performance-wear company headquartered in Fairhaven, Massachusetts. Through a portfolio of recognized brands, the company develops, manufactures and markets products used by golfers and golf facilities worldwide.

Its principal brands include Titleist, which offers golf balls, clubs, golf bags, gloves and accessories; FootJoy, which specializes in golf footwear, apparel and gloves; Scotty Cameron, known for premium putters and related accessories; and KJUS, which produces high-performance golf and outdoor apparel.