Acushnet (NYSE:GOLF) Shares Cross Below Fifty Day Moving Average – Here’s Why

Acushnet (NYSE:GOLF)’s stock price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $93.77 and traded as low as $85.73. Acushnet shares last traded at $86.03, with a volume of 300,291 shares.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a “hold” rating on shares of Acushnet in a research note on Thursday, February 26th. UBS Group set a $100.00 price objective on shares of Acushnet in a research note on Thursday, February 26th. Truist Financial increased their price objective on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research note on Tuesday. Roth Mkm set a $87.00 price objective on shares of Acushnet in a research note on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Acushnet from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Acushnet currently has a consensus rating of “Hold” and a consensus price target of $94.17.

Acushnet Trading Up 2.0%

The company has a market cap of $5.23 billion, a price-to-earnings ratio of 31.42 and a beta of 0.88. The company has a quick ratio of 1.59, a current ratio of 2.87 and a debt-to-equity ratio of 1.36. The company’s 50-day moving average is $93.48 and its 200 day moving average is $90.52.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.02). The firm had revenue of $752.98 million for the quarter, compared to analyst estimates of $722.48 million. Acushnet had a net margin of 6.54% and a return on equity of 22.95%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 EPS. Research analysts predict that Acushnet will post 3.82 EPS for the current year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, June 5th. Acushnet’s dividend payout ratio (DPR) is presently 35.92%.

Insider Transactions at Acushnet

In other Acushnet news, Director Gregory A. Hewett sold 4,206 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $100.00, for a total transaction of $420,600.00. Following the transaction, the director directly owned 37,017 shares of the company’s stock, valued at $3,701,700. This trade represents a 10.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 53.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Acushnet

Several hedge funds and other institutional investors have recently modified their holdings of GOLF. Royal Bank of Canada lifted its stake in shares of Acushnet by 6.6% in the first quarter. Royal Bank of Canada now owns 88,703 shares of the company’s stock worth $6,090,000 after buying an additional 5,510 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Acushnet by 2.5% in the first quarter. AQR Capital Management LLC now owns 19,498 shares of the company’s stock worth $1,339,000 after buying an additional 475 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Acushnet by 13.5% in the first quarter. Integrated Wealth Concepts LLC now owns 4,603 shares of the company’s stock worth $316,000 after buying an additional 548 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Acushnet by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,560 shares of the company’s stock worth $1,137,000 after buying an additional 460 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Acushnet by 39.0% in the first quarter. Goldman Sachs Group Inc. now owns 249,807 shares of the company’s stock worth $17,152,000 after buying an additional 70,095 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Acushnet Company Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.