Stephens Begins Coverage on Acushnet (GOLF)

Stephens began coverage on shares of Acushnet (NYSE:GOLF) in a research note published on Tuesday, Marketbeat Ratings reports. The brokerage issued an equal weight rating on the stock.

GOLF has been the subject of a number of other research reports. ValuEngine downgraded Acushnet from a buy rating to a hold rating in a research report on Friday, November 2nd. Compass Point upgraded Acushnet from a neutral rating to a buy rating in a research report on Wednesday, January 2nd. Imperial Capital restated an in-line rating and issued a $26.00 target price on shares of Acushnet in a research report on Friday, November 2nd. Finally, JPMorgan Chase & Co. initiated coverage on Acushnet in a research report on Thursday, December 20th. They issued a hold rating and a $24.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $25.29.

GOLF stock traded up $0.24 during mid-day trading on Tuesday, reaching $22.31. 140,532 shares of the company traded hands, compared to its average volume of 223,212. Acushnet has a 52-week low of $17.55 and a 52-week high of $27.87. The company has a quick ratio of 1.18, a current ratio of 2.17 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $1.65 billion, a PE ratio of 18.14, a PEG ratio of 2.02 and a beta of 0.81.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, November 1st. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.06). Acushnet had a return on equity of 11.27% and a net margin of 6.10%. The business had revenue of $370.43 million for the quarter, compared to analysts’ expectations of $358.70 million. On average, equities research analysts anticipate that Acushnet will post 1.38 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 14th. Investors of record on Friday, November 30th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, November 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.33%. Acushnet’s dividend payout ratio is presently 42.28%.

Several institutional investors have recently made changes to their positions in the stock. Martingale Asset Management L P purchased a new stake in Acushnet in the third quarter worth $217,000. Legal & General Group Plc grew its stake in Acushnet by 141.9% in the third quarter. Legal & General Group Plc now owns 13,297 shares of the company’s stock worth $365,000 after purchasing an additional 7,801 shares during the period. Finally, Teachers Advisors LLC grew its stake in Acushnet by 4.7% in the third quarter. Teachers Advisors LLC now owns 64,943 shares of the company’s stock worth $1,781,000 after purchasing an additional 2,898 shares during the period. Institutional investors own 50.92% of the company’s stock.

About Acushnet

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products worldwide. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear. The Titleist Golf Balls segment designs, manufactures, and sells golf balls under the Titleist brands, such as Tour Soft, Velocity, and DT TruSoft, as well as under the Pinnacle brand.

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Analyst Recommendations for Acushnet (NYSE:GOLF)

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