Acushnet (GOLF) Upgraded at ValuEngine

ValuEngine upgraded shares of Acushnet (NYSE:GOLF) from a hold rating to a buy rating in a research note released on Friday morning, ValuEngine reports.

Several other equities research analysts have also issued reports on the company. TheStreet raised Acushnet from a c+ rating to a b rating in a research note on Friday, March 29th. Wells Fargo & Co dropped their price target on Acushnet from $26.00 to $25.00 and set a market perform rating for the company in a research note on Monday, March 4th. Compass Point lowered Acushnet from a buy rating to a neutral rating and set a $24.91 price target for the company. in a research note on Friday, March 1st. KeyCorp lifted their price target on Acushnet from $26.00 to $28.00 and gave the stock an overweight rating in a research note on Friday, March 1st. Finally, Zacks Investment Research lowered Acushnet from a buy rating to a hold rating in a research note on Friday, February 15th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $25.59.

Shares of GOLF stock opened at $24.18 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.25 and a quick ratio of 1.03. Acushnet has a 12-month low of $20.24 and a 12-month high of $27.87. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 2.40 and a beta of 0.91.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.11). Acushnet had a return on equity of 10.19% and a net margin of 5.74%. The firm had revenue of $433.70 million for the quarter, compared to the consensus estimate of $445.66 million. During the same period last year, the firm earned $0.56 EPS. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. Equities research analysts anticipate that Acushnet will post 1.55 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.56 annualized dividend and a dividend yield of 2.32%. Acushnet’s dividend payout ratio is currently 42.42%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. increased its holdings in shares of Acushnet by 29.9% in the fourth quarter. Advisor Group Inc. now owns 1,986 shares of the company’s stock worth $42,000 after buying an additional 457 shares during the period. Parametric Portfolio Associates LLC increased its holdings in shares of Acushnet by 0.8% in the first quarter. Parametric Portfolio Associates LLC now owns 82,825 shares of the company’s stock worth $1,917,000 after buying an additional 688 shares during the period. Raymond James & Associates increased its holdings in shares of Acushnet by 0.3% in the fourth quarter. Raymond James & Associates now owns 238,268 shares of the company’s stock worth $5,020,000 after buying an additional 752 shares during the period. Stone Ridge Asset Management LLC increased its holdings in shares of Acushnet by 1.6% in the fourth quarter. Stone Ridge Asset Management LLC now owns 47,382 shares of the company’s stock worth $998,000 after buying an additional 768 shares during the period. Finally, California Public Employees Retirement System increased its holdings in shares of Acushnet by 3.4% in the fourth quarter. California Public Employees Retirement System now owns 38,921 shares of the company’s stock worth $820,000 after buying an additional 1,273 shares during the period. Hedge funds and other institutional investors own 50.54% of the company’s stock.

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.

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Analyst Recommendations for Acushnet (NYSE:GOLF)

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