Acushnet (NYSE:GOLF) Receives $97.83 Average Target Price from Analysts

Shares of Acushnet (NYSE:GOLF) have earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $97.8333.

GOLF has been the topic of a number of recent analyst reports. Roth Capital set a $87.00 target price on shares of Acushnet in a research report on Thursday, May 7th. Weiss Ratings downgraded shares of Acushnet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. 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, JPMorgan Chase & Co. lifted their target price on Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th.

Acushnet Price Performance

GOLF stock opened at $114.82 on Monday. The company has a market capitalization of $6.72 billion, a PE ratio of 40.43 and a beta of 0.80. Acushnet has a 12-month low of $73.09 and a 12-month high of $119.65. The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36. The business’s fifty day moving average price is $100.54 and its 200 day moving average price is $96.76.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The business had revenue of $752.98 million for the quarter, compared to analysts’ expectations of $722.48 million. Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $1.62 earnings per share. On average, sell-side analysts anticipate that Acushnet will post 3.82 EPS for the current year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, June 5th. Acushnet’s payout ratio is presently 35.92%.

Insider Transactions at Acushnet

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

Hedge Funds Weigh In On Acushnet

A number of institutional investors have recently made changes to their positions in the business. Morgan Stanley grew its holdings in Acushnet by 22.3% during the 4th quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock worth $110,091,000 after acquiring an additional 251,889 shares during the period. M&T Bank Corp boosted its position in shares of Acushnet by 668.1% in the 4th 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 during the last quarter. Neumeier Poma Investment Counsel LLC boosted its position in shares of Acushnet by 51.7% in the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 384,424 shares of the company’s stock worth $30,685,000 after purchasing an additional 130,990 shares during the last quarter. Capital Research Global Investors grew its stake 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 purchasing an additional 115,000 shares during the period. Finally, Bank of America Corp DE grew its stake 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 purchasing an additional 110,245 shares during the period. 53.12% of the stock is owned by institutional investors and hedge funds.

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.