Acushnet (NYSE:GOLF) Stock Has Consensus Target Price of $97.57

Acushnet (NYSE:GOLF) has been assigned an average recommendation of “Hold” from the nine brokerages that are currently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $97.57.

Several equities research analysts have recently commented on GOLF shares. JPMorgan Chase & Co. boosted their price objective on Acushnet from $96.00 to $118.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Stephens started coverage on Acushnet in a report on Tuesday, September 15th. They issued an “equal weight” rating and a $88.00 target price on the stock. Roth Capital reiterated a “neutral” rating and issued a $95.00 target price on shares of Acushnet in a report on Friday, August 7th. Wall Street Zen downgraded shares of Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, September 19th. Finally, Weiss Ratings lowered shares of Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday.

Acushnet Stock Performance

Shares of GOLF opened at $83.73 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.55 and a quick ratio of 1.48. The stock has a 50-day moving average of $88.89 and a 200-day moving average of $95.21. The company has a market cap of $4.89 billion, a PE ratio of 22.82 and a beta of 0.79. Acushnet has a one year low of $75.16 and a one year high of $119.65.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, August 6th. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.45. The business had revenue of $819.95 million during the quarter, compared to analyst estimates of $788.24 million. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.The firm’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. On average, equities research analysts predict that Acushnet will post 4.02 EPS for the current fiscal year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were paid a $0.2550 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, September 4th. Acushnet’s dividend payout ratio (DPR) is 27.79%.

Institutional Investors Weigh In On Acushnet

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Acushnet during the 2nd quarter valued at about $496,463,000. Corient Private Wealth LP increased its holdings in Acushnet by 598.9% during the 2nd quarter. Corient Private Wealth LP now owns 41,237 shares of the company’s stock worth $4,888,000 after purchasing an additional 35,337 shares in the last quarter. EFG International AG purchased a new stake in shares of Acushnet in the second quarter worth approximately $4,994,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Acushnet in the second quarter worth approximately $1,723,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Acushnet by 36,310.7% in the first quarter. Fifth Third Bancorp now owns 27,308 shares of the company’s stock valued at $2,553,000 after purchasing an additional 27,233 shares in the last quarter. 53.12% of the stock is owned by institutional investors.

About Acushnet

Acushnet Holdings Corp. is a golf equipment and apparel company that develops, manufactures and markets products for golfers worldwide. Its portfolio includes golf clubs, golf balls, golf shoes, gloves, apparel, accessories and other golf-related equipment.

The company’s principal brands include Titleist, known for golf balls, clubs and equipment; FootJoy, which offers golf footwear, gloves and apparel; Scotty Cameron, which produces premium putters; Vokey Design, which specializes in wedges; and KJUS, a performance golf and outdoor apparel brand.