Acushnet (NYSE:GOLF) Price Target Cut to $77.00 by Analysts at KeyCorp

Acushnet (NYSE:GOLF) had its price target cut by KeyCorp from $80.00 to $77.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently commented on GOLF. JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. Truist Financial lifted their price objective on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $72.00.

Acushnet Stock Down 0.9 %

NYSE:GOLF opened at $64.29 on Friday. The company has a market cap of $3.91 billion, a PE ratio of 21.87 and a beta of 0.86. Acushnet has a twelve month low of $58.54 and a twelve month high of $76.65. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The company’s 50 day moving average is $69.06 and its two-hundred day moving average is $67.60.

Acushnet (NYSE:GOLF) last released its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $445.17 billion for the quarter, compared to the consensus estimate of $454.83 million. Analysts anticipate that Acushnet will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a $0.235 dividend. This is a boost from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, March 7th. Acushnet’s payout ratio is currently 25.83%.

Hedge Funds Weigh In On Acushnet

Several large investors have recently made changes to their positions in GOLF. Creative Planning lifted its stake in shares of Acushnet by 10.6% in the 3rd quarter. Creative Planning now owns 7,956 shares of the company’s stock valued at $507,000 after purchasing an additional 762 shares during the period. International Assets Investment Management LLC acquired a new position in Acushnet during the third quarter worth $7,986,000. US Bancorp DE raised its position in Acushnet by 8.2% during the third quarter. US Bancorp DE now owns 9,897 shares of the company’s stock worth $631,000 after acquiring an additional 753 shares during the period. Farther Finance Advisors LLC raised its position in Acushnet by 9.7% during the third quarter. Farther Finance Advisors LLC now owns 6,078 shares of the company’s stock worth $387,000 after acquiring an additional 535 shares during the period. Finally, Phillips Wealth Planners LLC acquired a new position in Acushnet during the third quarter worth $204,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

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.