Acushnet (NYSE:GOLF) Receives Consensus Rating of “Hold” from Brokerages

Acushnet (NYSE:GOLF) has received an average recommendation of “Hold” from the eight brokerages that are presently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $99.1667.

Several equities analysts recently issued reports on the company. Weiss Ratings upgraded Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Roth Capital reissued a “neutral” rating and set a $95.00 price objective on shares of Acushnet in a research note on Friday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Truist Financial lifted their target price on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research note on Tuesday, May 19th. Finally, Wall Street Zen upgraded shares of Acushnet from a “hold” rating to a “buy” rating in a report on Saturday, August 15th.

Acushnet Stock Performance

NYSE GOLF opened at $86.71 on Tuesday. The company has a 50-day simple moving average of $100.09 and a two-hundred day simple moving average of $97.20. Acushnet has a 12-month low of $73.09 and a 12-month high of $119.65. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 23.63 and a beta of 0.80. The company has a quick ratio of 1.48, a current ratio of 2.55 and a debt-to-equity ratio of 1.01.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, August 6th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.63 by $0.45. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.The firm had revenue of $819.95 million for the quarter, compared to the consensus estimate of $788.24 million. During the same quarter in the previous year, the business earned $1.25 earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis. On average, equities analysts forecast that Acushnet will post 4.02 EPS for the current year.

Acushnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a $0.255 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.2%. Acushnet’s payout ratio is presently 27.79%.

Insider Activity

In other news, insider Nicholas N. Mohamed sold 529 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $50,255.00. Following the completion of the transaction, the insider directly owned 2,868 shares of the company’s stock, valued at approximately $272,460. This represents a 15.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Acushnet in the second quarter worth $496,463,000. California State Teachers Retirement System increased its position in Acushnet by 11,468.0% during the 2nd quarter. California State Teachers Retirement System now owns 4,161,114 shares of the company’s stock valued at $493,217,000 after purchasing an additional 4,125,143 shares during the period. Neumeier Poma Investment Counsel LLC purchased a new position in Acushnet during the 2nd quarter valued at $45,290,194. Bank of New York Mellon Corp bought a new position in Acushnet in the 2nd quarter worth $31,800,000. Finally, Morgan Stanley raised its holdings in Acushnet by 22.3% in the 4th quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock worth $110,091,000 after purchasing an additional 251,889 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

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.