Acushnet (NYSE:GOLF) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Acushnet (NYSE:GOLF) have been given an average rating of “Hold” by the eight analysts that are presently covering the company, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation. The average twelve-month target price among brokerages that have covered the stock in the last year is $97.8333.

A number of brokerages have recently weighed in on GOLF. Truist Financial increased their price objective on Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a report on Tuesday, May 19th. JPMorgan Chase & Co. lifted their target price on Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Weiss Ratings downgraded shares of Acushnet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Finally, Roth Capital set a $87.00 price target on shares of Acushnet in a report on Thursday, May 7th.

Acushnet Price Performance

Shares of GOLF stock opened at $110.29 on Monday. Acushnet has a twelve month low of $73.09 and a twelve month high of $119.65. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 38.83 and a beta of 0.80. The stock has a fifty day simple moving average of $98.33 and a two-hundred day simple moving average of $95.78. The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36.

Acushnet (NYSE:GOLF) last posted 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). Acushnet had a net margin of 6.54% and a return on equity of 22.95%. The business had revenue of $752.98 million during the quarter, compared to the consensus estimate of $722.48 million. During the same quarter in the prior year, the firm posted $1.62 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts predict that Acushnet will post 3.82 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, June 5th. Acushnet’s payout ratio is 35.92%.

Insider Transactions at Acushnet

In other Acushnet news, insider Nicholas N. Mohamed sold 529 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $272,460. This represents a 15.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven Francis Pelisek sold 15,000 shares of the company’s stock in a transaction dated 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 trade represents a 17.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 53.30% of the company’s stock.

Hedge Funds Weigh In On Acushnet

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millstone Evans Group LLC boosted its holdings in shares of Acushnet by 170.2% during the 1st quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock worth $26,000 after purchasing an additional 177 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Acushnet by 389.6% in the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock valued at $26,000 after purchasing an additional 261 shares in the last quarter. Kelleher Financial Advisors acquired a new stake in shares of Acushnet in the third quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of Acushnet by 149.7% in the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after purchasing an additional 295 shares during the last quarter. Finally, Allworth Financial LP lifted its position in Acushnet by 57.3% during the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock worth $40,000 after buying an additional 184 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

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.