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

Acushnet (NYSE:GOLF) has earned a consensus recommendation of “Hold” from the eight research firms that are covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $94.1667.

GOLF has been the topic of several research reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of Acushnet in a report on Thursday, February 26th. Roth Mkm set a $87.00 price objective on Acushnet in a report on Thursday, May 7th. UBS Group set a $100.00 price objective on Acushnet in a report on Thursday, February 26th. Truist Financial raised their price objective on Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings lowered Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th.

Insider Activity

In other Acushnet news, insider Steven Francis Pelisek sold 15,000 shares of the firm’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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas N. Mohamed sold 529 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $95.00, for a total value of $50,255.00. Following the transaction, the insider directly owned 2,868 shares in the company, valued at approximately $272,460. The trade was a 15.57% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 53.30% of the company’s stock.

Hedge Funds Weigh In On Acushnet

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors grew its holdings in shares of Acushnet by 8.5% during the fourth quarter. Capital Research Global Investors now owns 1,465,000 shares of the company’s stock worth $116,936,000 after buying an additional 115,000 shares during the last quarter. Morgan Stanley grew its holdings in shares of Acushnet by 22.3% during the fourth quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock worth $110,091,000 after buying an additional 251,889 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Acushnet by 0.4% during the second quarter. Raymond James Financial Inc. now owns 952,453 shares of the company’s stock worth $69,358,000 after buying an additional 4,243 shares during the last quarter. Fisher Asset Management LLC grew its holdings 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 buying an additional 495,794 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Acushnet by 31.8% during the second quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock worth $33,312,000 after buying an additional 110,245 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Acushnet Stock Down 0.9%

Acushnet stock opened at $106.81 on Thursday. Acushnet has a 1-year low of $70.37 and a 1-year high of $108.66. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.87 and a quick ratio of 1.59. The stock has a market cap of $6.25 billion, a PE ratio of 37.61 and a beta of 0.85. The stock’s fifty day moving average is $93.62 and its two-hundred day moving average is $92.74.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $722.48 million. During the same quarter in the prior year, the business earned $1.62 earnings per share. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts expect that Acushnet will post 3.82 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.02 annualized dividend and a dividend yield of 1.0%. Acushnet’s dividend payout ratio (DPR) is presently 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.