Acushnet (NYSE:GOLF) Receives Average Recommendation of “Hold” from Analysts

Acushnet (NYSE:GOLF) has earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $99.1667.

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

Acushnet Trading Up 1.0%

GOLF stock opened at $89.98 on Friday. Acushnet has a 1-year low of $73.09 and a 1-year high of $119.65. 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 company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 24.52 and a beta of 0.81. The business has a 50 day simple moving average of $105.26 and a two-hundred day simple moving average of $98.53.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Thursday, August 6th. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.45. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The business had revenue of $819.95 million during the quarter, compared to analyst estimates of $788.24 million. During the same period last year, the firm posted $1.25 EPS. The company’s revenue was up 13.8% on a year-over-year basis. Research analysts anticipate that Acushnet will post 3.99 EPS for the current fiscal year.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $0.255 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.02 dividend on an annualized basis and a yield of 1.1%. Acushnet’s dividend payout ratio is presently 27.79%.

Insider Activity at Acushnet

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

Institutional Investors Weigh In On Acushnet

Large investors have recently bought and sold shares of the business. Millstone Evans Group LLC lifted its position in Acushnet by 170.2% during the first quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock valued at $26,000 after purchasing an additional 177 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Acushnet in the 2nd quarter worth about $36,000. Brown Brothers Harriman & Co. raised its position in shares of Acushnet by 389.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock valued at $26,000 after buying an additional 261 shares in the last quarter. Kelleher Financial Advisors purchased a new stake in shares of Acushnet during the 2nd quarter valued at about $42,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Acushnet by 149.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after acquiring an additional 295 shares during the last quarter. Institutional investors own 53.12% of the company’s stock.

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.