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

Acushnet (NYSE:GOLF) has received a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $94.1667.

A number of analysts have recently commented on the company. Zacks Research cut Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Roth Mkm set a $87.00 price objective on Acushnet in a research report on Thursday, May 7th. Weiss Ratings upgraded Acushnet from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, May 8th. Truist Financial boosted their price objective on Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Jefferies Financial Group restated a “hold” rating on shares of Acushnet in a research report on Thursday, February 26th.

Insider Activity at Acushnet

In related news, Director Gregory A. Hewett sold 4,206 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $100.00, for a total transaction of $420,600.00. Following the completion of the sale, the director directly owned 37,017 shares in the company, valued at approximately $3,701,700. The trade was a 10.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 53.30% of the company’s stock.

Institutional Trading of Acushnet

Large investors have recently made changes to their positions in the company. Public Sector Pension Investment Board increased its position in shares of Acushnet by 19.2% during the third quarter. Public Sector Pension Investment Board now owns 107,493 shares of the company’s stock worth $8,437,000 after purchasing an additional 17,319 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of 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. Tudor Investment Corp ET AL purchased a new stake in shares of Acushnet during the third quarter worth approximately $5,382,000. M&T Bank Corp increased its position in shares of Acushnet by 668.1% during the fourth quarter. M&T Bank Corp now owns 159,874 shares of the company’s stock worth $12,761,000 after purchasing an additional 139,060 shares in the last quarter. Finally, Quantbot Technologies LP increased its position in shares of Acushnet by 53.1% during the third quarter. Quantbot Technologies LP now owns 39,478 shares of the company’s stock worth $3,099,000 after purchasing an additional 13,693 shares in the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Trading Up 0.0%

Shares of NYSE:GOLF opened at $88.40 on Friday. Acushnet has a 12-month low of $67.14 and a 12-month high of $104.81. The company has a market capitalization of $5.18 billion, a PE ratio of 31.13 and a beta of 0.88. The business has a 50 day moving average of $93.20 and a two-hundred day moving average of $90.58. 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 data on Wednesday, May 6th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The business had revenue of $752.98 million during the quarter, compared to analysts’ expectations of $722.48 million. Acushnet had a net margin of 6.54% and a return on equity of 22.95%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.62 earnings per share. As a group, analysts forecast that Acushnet will post 3.82 EPS for the current year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be given a $0.255 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.2%. Acushnet’s payout ratio is 35.92%.

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.