Acushnet (NYSE:GOLF) Downgraded by Jefferies Financial Group to “Hold”

Jefferies Financial Group downgraded shares of Acushnet (NYSE:GOLF) from a buy rating to a hold rating in a research note published on Tuesday, Marketbeat Ratings reports. They currently have $75.00 price objective on the stock, down from their prior price objective of $86.00.

GOLF has been the topic of several other reports. Compass Point lowered their price target on shares of Acushnet from $78.00 to $76.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of Acushnet from $62.00 to $63.00 and gave the company a neutral rating in a research note on Tuesday, May 28th. Finally, Truist Financial boosted their price objective on shares of Acushnet from $63.00 to $65.00 and gave the stock a hold rating in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $67.43.

Acushnet Trading Down 3.8 %

GOLF opened at $63.36 on Tuesday. The company has a current ratio of 2.28, a quick ratio of 1.27 and a debt-to-equity ratio of 0.81. Acushnet has a 12 month low of $49.42 and a 12 month high of $74.77. The firm’s fifty day simple moving average is $66.95 and its 200 day simple moving average is $64.80. The stock has a market capitalization of $4.00 billion, a P/E ratio of 22.00 and a beta of 0.85.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results 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). Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The business had revenue of $683.90 million during the quarter, compared to analyst estimates of $709.83 million. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, research analysts anticipate that Acushnet will post 3.02 EPS for the current fiscal year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, September 6th. Acushnet’s payout ratio is 29.86%.

Insider Buying and Selling

In related news, Director Holdings Corp. Fila sold 587,520 shares of Acushnet stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total transaction of $37,501,401.60. Following the completion of the sale, the director now owns 32,522,966 shares of the company’s stock, valued at approximately $2,075,940,919.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 54.60% of the stock is currently owned by insiders.

Institutional Trading of Acushnet

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Azzad Asset Management Inc. ADV boosted 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 valued at $614,000 after purchasing an additional 173 shares during the period. Wedbush Securities Inc. boosted its holdings in Acushnet by 5.2% in the 2nd quarter. Wedbush Securities Inc. now owns 3,535 shares of the company’s stock valued at $224,000 after purchasing an additional 176 shares during the period. SkyView Investment Advisors LLC boosted its holdings in Acushnet by 0.9% in the 2nd quarter. SkyView Investment Advisors LLC now owns 20,396 shares of the company’s stock valued at $1,295,000 after purchasing an additional 187 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings 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 purchasing an additional 260 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted 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 valued at $257,000 after purchasing an additional 269 shares during the period. Institutional investors 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.