Analysts Set Acushnet (NYSE:GOLF) PT at $79.83

Acushnet (NYSE:GOLF) has been assigned an average recommendation of “Hold” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $84.3333.

A number of brokerages recently issued reports on GOLF. Morgan Stanley increased their target price on Acushnet from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. raised shares of Acushnet from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $74.00 to $96.00 in a research note on Friday. KeyCorp reiterated a “sector weight” rating on shares of Acushnet in a report on Friday, January 16th. Truist Financial upped their target price on shares of Acushnet from $65.00 to $74.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Acushnet in a research report on Thursday, November 6th.

Insiders Place Their Bets

In related news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $84.66, for a total value of $1,693,200.00. Following the completion of the sale, the insider directly owned 76,006 shares of the company’s stock, valued at approximately $6,434,667.96. This represents a 20.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Eugene Maher sold 26,939 shares of Acushnet stock in a transaction on Friday, November 14th. The stock was sold at an average price of $79.33, for a total transaction of $2,137,070.87. Following the transaction, the chief executive officer directly 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 SEC filing for this sale provides additional information. Insiders sold a total of 71,460 shares of company stock valued at $5,786,311 over the last three months. 53.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Acushnet

A number of institutional investors have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. lifted 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 worth $26,000 after buying an additional 261 shares in the last quarter. Kelleher Financial Advisors bought a new position in shares of Acushnet in the third quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its position in shares of Acushnet by 149.7% during the second 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. Allworth Financial LP lifted its holdings 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 acquiring an additional 184 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Acushnet by 83.7% in the second quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock worth $39,000 after purchasing an additional 246 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

Acushnet Price Performance

GOLF stock opened at $94.22 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.42 and a quick ratio of 1.30. The company’s 50-day moving average is $84.72 and its 200-day moving average is $80.63. The stock has a market capitalization of $5.53 billion, a PE ratio of 25.74 and a beta of 0.88. Acushnet has a 1 year low of $55.31 and a 1 year high of $95.64.

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

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.94 annualized dividend and a dividend yield of 1.0%. 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.