Acushnet (NYSE:GOLF) Rating Increased to Buy at Tigress Financial

Tigress Financial upgraded shares of Acushnet (NYSE:GOLF – Get Rating) from a neutral rating to a buy rating in a research note published on Tuesday, The Fly reports. Tigress Financial currently has $62.00 price target on the stock, up from their previous price target of $50.00.

A number of other research analysts have also recently commented on the company. Stephens increased their target price on Acushnet from $52.00 to $53.00 and gave the company an equal weight rating in a research note on Thursday, March 2nd. Morgan Stanley increased their target price on Acushnet from $50.00 to $54.00 and gave the company an equal weight rating in a research note on Friday, March 3rd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $52.00.

Acushnet Trading Down 1.9 %

Shares of GOLF stock opened at $49.59 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.70 and a current ratio of 1.93. Acushnet has a 52-week low of $37.46 and a 52-week high of $54.11. The company has a market capitalization of $3.32 billion, a PE ratio of 18.16 and a beta of 0.77. The business’s fifty day moving average is $48.36 and its 200 day moving average is $46.63.

Acushnet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be paid a dividend of $0.195 per share. This is a boost from Acushnet’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Thursday, March 9th. Acushnet’s dividend payout ratio (DPR) is 28.57%.

Insider Activity

In other news, Director Holdings Corp. Fila sold 2,168,528 shares of the firm’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $46.11, for a total transaction of $99,990,826.08. Following the transaction, the director now directly owns 34,935,480 shares of the company’s stock, valued at $1,610,874,982.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Holdings Corp. Fila sold 2,168,528 shares of the firm’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $46.11, for a total value of $99,990,826.08. Following the sale, the director now directly owns 34,935,480 shares of the company’s stock, valued at $1,610,874,982.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Pacheco sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $51.92, for a total transaction of $1,038,400.00. Following the completion of the sale, the insider now owns 60,368 shares of the company’s stock, valued at $3,134,306.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,203,528 shares of company stock valued at $101,811,476. 53.00% of the stock is currently owned by insiders.

Institutional Trading of Acushnet

Several institutional investors and hedge funds have recently bought and sold shares of GOLF. Dark Forest Capital Management LP lifted its holdings in shares of Acushnet by 840.0% during the second quarter. Dark Forest Capital Management LP now owns 705 shares of the company’s stock valued at $29,000 after purchasing an additional 630 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Acushnet during the third quarter valued at approximately $30,000. Eagle Bay Advisors LLC purchased a new position in shares of Acushnet during the second quarter valued at approximately $49,000. Point72 Hong Kong Ltd purchased a new position in shares of Acushnet during the second quarter valued at approximately $57,000. Finally, FourThought Financial LLC lifted its holdings in shares of Acushnet by 45.5% during the third quarter. FourThought Financial LLC now owns 1,807 shares of the company’s stock valued at $79,000 after purchasing an additional 565 shares during the last quarter. 49.39% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Company Profile

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Acushnet Holdings Corp. engages in the design, development, manufacture, and distribution of performance-driven golf products. It operates through the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, FootJoy Golf Wear, and Other. The Titleist Golf Balls segment is involved in the design and manufacture of golf balls.