Acushnet (NYSE:GOLF) Downgraded by Jefferies Financial Group

Jefferies Financial Group lowered shares of Acushnet (NYSE:GOLF) from a buy rating to a hold rating in a report issued on Tuesday morning, MarketBeat reports. They currently have $75.00 price objective on the stock, down from their prior price objective of $86.00.

Other equities research analysts have also issued reports about the stock. Truist Financial boosted their price objective on shares of Acushnet from $63.00 to $65.00 and gave the company a hold rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on Acushnet from $62.00 to $63.00 and gave the company a neutral rating in a report on Tuesday, May 28th. Finally, Compass Point decreased their target price on Acushnet from $78.00 to $76.00 and set a buy rating for the company in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $67.43.

Acushnet Stock Up 1.4 %

Acushnet stock opened at $64.19 on Tuesday. The business has a fifty day moving average price of $67.03 and a 200-day moving average price of $64.78. Acushnet has a 1-year low of $49.42 and a 1-year high of $74.77. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 22.29 and a beta of 0.85. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.09). The company had revenue of $683.90 million for the quarter, compared to analyst estimates of $709.83 million. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The business’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 EPS. Equities research analysts forecast that Acushnet will post 3.02 EPS for the current fiscal year.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Friday, September 6th. Acushnet’s payout ratio is presently 29.86%.

Insider Transactions at Acushnet

In related news, Director Holdings Corp. Fila sold 587,520 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total value of $37,501,401.60. Following the completion of the transaction, the director now directly owns 32,522,966 shares in the company, valued at approximately $2,075,940,919.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 54.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Azzad Asset Management Inc. ADV raised its holdings in Acushnet by 1.9% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 9,305 shares of the company’s stock worth $614,000 after purchasing an additional 173 shares during the period. Wedbush Securities Inc. raised its stake in shares of Acushnet by 5.2% during the 2nd quarter. Wedbush Securities Inc. now owns 3,535 shares of the company’s stock worth $224,000 after buying an additional 176 shares during the period. SkyView Investment Advisors LLC lifted its position in shares of Acushnet by 0.9% during the 2nd quarter. SkyView Investment Advisors LLC now owns 20,396 shares of the company’s stock valued at $1,295,000 after buying an additional 187 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Acushnet by 8.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,478 shares of the company’s stock valued at $221,000 after acquiring an additional 260 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its holdings in Acushnet by 7.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,898 shares of the company’s stock worth $257,000 after acquiring an additional 269 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

About Acushnet

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.