Acushnet Holdings Corp. (NYSE:GOLF – Get Rating) hit a new 52-week low during mid-day trading on Tuesday after Morgan Stanley lowered their price target on the stock from $56.00 to $48.00. Morgan Stanley currently has an equal weight rating on the stock. Acushnet traded as low as $39.60 and last traded at $39.67, with a volume of 5476 shares traded. The stock had previously closed at $41.52.
Several other equities analysts have also issued reports on the stock. StockNews.com began coverage on shares of Acushnet in a report on Thursday, March 31st. They set a “hold” rating on the stock. Truist Financial cut their price target on shares of Acushnet from $48.00 to $44.00 and set a “hold” rating on the stock in a report on Monday, April 11th. Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Tuesday, January 18th. KeyCorp cut their price target on shares of Acushnet from $63.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, March 3rd. Finally, Zacks Investment Research downgraded shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Monday, March 7th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Acushnet presently has an average rating of “Hold” and an average price target of $53.71.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Acushnet by 1.5% in the 4th quarter. BlackRock Inc. now owns 2,454,747 shares of the company’s stock worth $130,299,000 after acquiring an additional 36,778 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Acushnet by 1.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,090,017 shares of the company’s stock valued at $110,938,000 after purchasing an additional 27,613 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Acushnet by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,466,207 shares of the company’s stock valued at $77,826,000 after purchasing an additional 3,677 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Acushnet by 79.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,083,804 shares of the company’s stock valued at $57,528,000 after purchasing an additional 480,737 shares during the last quarter. Finally, State Street Corp increased its position in shares of Acushnet by 1.1% in the 4th quarter. State Street Corp now owns 670,373 shares of the company’s stock valued at $35,583,000 after purchasing an additional 7,052 shares during the last quarter. 49.59% of the stock is owned by institutional investors and hedge funds.
The stock’s 50-day simple moving average is $42.34 and its 200 day simple moving average is $48.04. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.15 and a current ratio of 2.01. The company has a market capitalization of $2.87 billion, a PE ratio of 16.87 and a beta of 0.82.
Acushnet (NYSE:GOLF – Get Rating) last announced its quarterly earnings data on Tuesday, March 1st. The company reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.07). Acushnet had a net margin of 8.33% and a return on equity of 15.90%. The firm had revenue of $420.60 million during the quarter, compared to analysts’ expectations of $380.88 million. During the same period in the prior year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts expect that Acushnet Holdings Corp. will post 2.71 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Friday, March 11th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.81%. This is an increase from Acushnet’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, March 10th. Acushnet’s dividend payout ratio (DPR) is 30.38%.
About Acushnet (NYSE:GOLF)
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.