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

Shares of Acushnet (NYSE:GOLF) have earned a consensus rating of “Hold” from the eight research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $78.1667.

A number of equities research analysts have recently weighed in on GOLF shares. Roth Capital restated a “neutral” rating and set a $80.00 price target on shares of Acushnet in a research note on Thursday, November 6th. JPMorgan Chase & Co. lifted their target price on shares of Acushnet from $67.00 to $74.00 and gave the stock an “underweight” rating in a research note on Monday, December 15th. KeyCorp upped their price target on shares of Acushnet from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Acushnet in a report on Wednesday, October 8th. Finally, Truist Financial boosted their price objective on shares of Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, November 4th.

Insider Transactions at Acushnet

In related news, CEO David Eugene Maher sold 26,939 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $79.33, for a total value of $2,137,070.87. Following the sale, the chief executive officer owned 852,092 shares in the company, valued at $67,596,458.36. This represents a 3.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $84.66, for a total transaction of $1,693,200.00. Following the completion of the transaction, the insider owned 76,006 shares in the company, valued at approximately $6,434,667.96. This trade represents a 20.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 71,460 shares of company stock worth $5,786,311 over the last three months. Corporate insiders own 53.60% of the company’s stock.

Institutional Trading of Acushnet

Several large investors have recently made changes to their positions in the business. Fisher Asset Management LLC boosted its position in 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 in the last quarter. Norges Bank acquired a new stake in Acushnet in the 2nd quarter valued at about $20,963,000. Tributary Capital Management LLC lifted its position in Acushnet by 92.6% during the third quarter. Tributary Capital Management LLC now owns 457,490 shares of the company’s stock worth $35,908,000 after buying an additional 219,895 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Acushnet by 31.8% during the 2nd quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock valued at $33,312,000 after acquiring an additional 110,245 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Acushnet by 489.1% in the 2nd quarter. American Century Companies Inc. now owns 122,185 shares of the company’s stock valued at $8,898,000 after buying an additional 101,443 shares during the period. 53.12% of the stock is owned by hedge funds and other institutional investors.

Acushnet Stock Performance

Shares of GOLF opened at $82.70 on Thursday. The company has a current ratio of 2.42, a quick ratio of 1.30 and a debt-to-equity ratio of 1.03. The firm has a market cap of $4.85 billion, a PE ratio of 22.60 and a beta of 0.89. Acushnet has a 12 month low of $55.31 and a 12 month high of $86.19. The stock has a fifty day moving average price of $81.37 and a 200-day moving average price of $78.51.

Acushnet (NYSE:GOLF) last announced its earnings results on Wednesday, November 5th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Acushnet had a return on equity of 27.50% and a net margin of 8.80%.The business had revenue of $657.66 million for the quarter, compared to analysts’ expectations of $632.76 million. During the same quarter last year, the firm earned $0.89 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, December 5th. Acushnet’s payout ratio is presently 25.68%.

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.