Acushnet Holdings Corp. (NYSE:GOLF) Receives Average Rating of “Hold” from Analysts

Acushnet Holdings Corp. (NYSE:GOLF) has been given a consensus recommendation of “Hold” by the five analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $70.00.

A number of analysts have commented on GOLF shares. Compass Point lowered shares of Acushnet from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $80.00 to $71.00 in a report on Monday, May 5th. Truist Financial boosted their price target on shares of Acushnet from $64.00 to $65.00 and gave the company a “hold” rating in a report on Thursday, May 8th. StockNews.com lowered shares of Acushnet from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. KeyCorp boosted their price target on shares of Acushnet from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lowered shares of Acushnet from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $69.00 to $64.00 in a report on Thursday, January 23rd.

Acushnet Price Performance

GOLF opened at $70.39 on Wednesday. The company has a fifty day moving average price of $64.56 and a two-hundred day moving average price of $67.66. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. Acushnet has a 52 week low of $55.31 and a 52 week high of $76.65. The firm has a market capitalization of $4.14 billion, a PE ratio of 23.94 and a beta of 0.90.

Acushnet (NYSE:GOLF) last released its earnings results on Wednesday, May 7th. The company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.30. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm had revenue of $703.37 million during the quarter, compared to analyst estimates of $697.82 million. During the same quarter in the previous year, the business earned $1.35 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. As a group, analysts anticipate that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Friday, June 6th. Acushnet’s payout ratio is presently 26.11%.

Insider Buying and Selling

In related news, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the transaction, the insider now directly owns 96,006 shares of the company’s stock, valued at approximately $6,802,985.16. This represents a 17.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 54.60% of the company’s stock.

Institutional Investors Weigh In On Acushnet

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOLF. Barclays PLC lifted its position in Acushnet by 361.5% during the 3rd quarter. Barclays PLC now owns 48,563 shares of the company’s stock worth $3,096,000 after buying an additional 38,041 shares in the last quarter. Franklin Resources Inc. lifted its position in Acushnet by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 22,831 shares of the company’s stock worth $1,455,000 after buying an additional 548 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Acushnet in the 4th quarter valued at about $239,000. Heritage Family Offices LLP bought a new stake in shares of Acushnet in the 4th quarter valued at about $205,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Acushnet by 34.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,662 shares of the company’s stock valued at $331,000 after purchasing an additional 1,187 shares during the period. 53.12% of the stock is owned by institutional investors.

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.