Acushnet (NYSE:GOLF) Given Consensus Rating of “Hold” by Analysts

Shares of Acushnet (NYSE:GOLF) have earned a consensus rating of “Hold” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $94.1667.

GOLF has been the subject of several recent analyst reports. Roth Mkm set a $87.00 price target on Acushnet in a research note on Thursday, May 7th. Weiss Ratings lowered Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. UBS Group set a $100.00 price target on Acushnet in a report on Thursday, February 26th. Jefferies Financial Group reiterated a “hold” rating on shares of Acushnet in a research note on Thursday, February 26th. Finally, Truist Financial lifted their target price on Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research report on Tuesday, May 19th.

Acushnet Trading Up 3.4%

Acushnet stock opened at $100.90 on Thursday. The business has a 50-day simple moving average of $93.01 and a two-hundred day simple moving average of $92.24. The company has a market cap of $5.91 billion, a P/E ratio of 35.53 and a beta of 0.85. Acushnet has a 52-week low of $70.28 and a 52-week high of $104.81. The company has a quick ratio of 1.59, a current ratio of 2.87 and a debt-to-equity ratio of 1.36.

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

Acushnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, June 5th. Acushnet’s dividend payout ratio (DPR) is 35.92%.

Insiders Place Their Bets

In other news, insider Steven Francis Pelisek sold 15,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the transaction, the insider owned 70,512 shares of the company’s stock, valued at approximately $6,434,925.12. This represents a 17.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas N. Mohamed sold 529 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total value of $50,255.00. Following the transaction, the insider directly owned 2,868 shares in the company, valued at $272,460. The trade was a 15.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 53.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Acushnet

Hedge funds have recently made changes to their positions in the company. Public Sector Pension Investment Board lifted its holdings in shares of Acushnet by 19.2% during the third quarter. Public Sector Pension Investment Board now owns 107,493 shares of the company’s stock worth $8,437,000 after purchasing an additional 17,319 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Acushnet by 238.0% during the third quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock worth $55,269,000 after purchasing an additional 495,794 shares during the period. M&T Bank Corp raised its position in Acushnet by 668.1% during the fourth quarter. M&T Bank Corp now owns 159,874 shares of the company’s stock valued at $12,761,000 after acquiring an additional 139,060 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Acushnet during the third quarter valued at approximately $5,382,000. Finally, Kennedy Capital Management LLC raised its position in Acushnet by 11.5% during the fourth quarter. Kennedy Capital Management LLC now owns 217,803 shares of the company’s stock valued at $17,385,000 after acquiring an additional 22,424 shares in the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

About Acushnet

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.