Acushnet Holdings Corp. (NYSE:GOLF) Short Interest Update

Acushnet Holdings Corp. (NYSE:GOLF) was the recipient of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 5,470,000 shares, a growth of 40.6% from the January 31st total of 3,890,000 shares. Based on an average daily volume of 418,100 shares, the short-interest ratio is presently 13.1 days. Approximately 19.9% of the company’s shares are short sold.

Acushnet Stock Down 0.1 %

NYSE GOLF traded down $0.06 on Wednesday, reaching $64.79. The company had a trading volume of 129,196 shares, compared to its average volume of 336,978. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. Acushnet has a 1 year low of $58.54 and a 1 year high of $76.65. The firm has a 50-day moving average of $68.70 and a 200-day moving average of $67.58. The firm has a market capitalization of $3.88 billion, a PE ratio of 22.04 and a beta of 0.79.

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

Acushnet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $0.235 dividend. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, March 7th. Acushnet’s payout ratio is currently 28.23%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Truist Financial upped their price objective on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. StockNews.com upgraded Acushnet from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. Compass Point upgraded Acushnet from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $77.00 to $80.00 in a report on Tuesday. KeyCorp cut their price target on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. downgraded shares of Acushnet from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Acushnet has an average rating of “Hold” and an average price target of $72.80.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in Acushnet by 6.7% in the third quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock worth $64,632,000 after purchasing an additional 63,294 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Acushnet in the 3rd quarter worth approximately $1,443,000. FMR LLC boosted its holdings in shares of Acushnet by 2.5% in the third quarter. FMR LLC now owns 441,069 shares of the company’s stock worth $28,118,000 after buying an additional 10,762 shares during the period. Tidal Investments LLC acquired a new stake in shares of Acushnet in the third quarter worth $508,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Acushnet in the 3rd quarter valued at about $654,000. Institutional investors and hedge funds 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.