Acushnet (NYSE:GOLF) Given New $77.00 Price Target at KeyCorp

Acushnet (NYSE:GOLF) had its price objective trimmed by KeyCorp from $80.00 to $77.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts have also issued reports on GOLF. JPMorgan Chase & Co. lowered shares of Acushnet from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. Truist Financial upped their price objective on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $72.00.

Acushnet Price Performance

Acushnet stock opened at $64.29 on Friday. Acushnet has a 52-week low of $58.54 and a 52-week high of $76.65. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 21.87 and a beta of 0.86. The company has a fifty day simple moving average of $69.06 and a 200-day simple moving average of $67.60. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. On average, equities analysts anticipate that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.46%. The ex-dividend date is Friday, March 7th. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. Acushnet’s dividend payout ratio (DPR) is 25.83%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. boosted its stake in Acushnet by 100.6% during the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after buying an additional 176 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Acushnet during the fourth quarter worth about $31,000. Prospera Private Wealth LLC acquired a new stake in shares of Acushnet during the third quarter worth about $41,000. Lazard Asset Management LLC acquired a new stake in shares of Acushnet during the fourth quarter worth about $51,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Acushnet by 39.6% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company’s stock worth $58,000 after purchasing an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 53.12% 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.