Wells Fargo & Co Reiterates “$25.00” Price Target for Acushnet (NYSE:GOLF)

Wells Fargo & Co set a $25.00 price objective on Acushnet (NYSE:GOLF) in a research report released on Friday morning, TipRanks reports. The brokerage currently has a hold rating on the stock.

A number of other analysts have also recently weighed in on GOLF. ValuEngine cut shares of Acushnet from a buy rating to a hold rating in a report on Thursday, August 1st. Zacks Investment Research cut shares of Acushnet from a buy rating to a hold rating in a report on Saturday. SunTrust Banks cut shares of Acushnet from a buy rating to a hold rating and set a $26.00 price objective on the stock. in a report on Wednesday, July 31st. Finally, Roth Capital raised shares of Acushnet from a neutral rating to a buy rating and increased their price objective for the stock from $27.00 to $28.00 in a report on Thursday, May 9th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $26.24.

Shares of GOLF stock remained flat at $$24.99 during trading hours on Friday. 189,154 shares of the company were exchanged, compared to its average volume of 167,761. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.08 and a current ratio of 2.15. Acushnet has a 1-year low of $20.24 and a 1-year high of $27.87. The stock’s fifty day moving average price is $26.12. The firm has a market cap of $1.88 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 3.21 and a beta of 0.99.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.08). Acushnet had a return on equity of 9.81% and a net margin of 5.71%. The firm had revenue of $462.22 million during the quarter, compared to analyst estimates of $484.88 million. During the same period last year, the business earned $0.53 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. Research analysts forecast that Acushnet will post 1.55 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.56 annualized dividend and a yield of 2.24%. Acushnet’s payout ratio is 42.42%.

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in shares of Acushnet by 3.1% in the second quarter. Bank of New York Mellon Corp now owns 522,027 shares of the company’s stock valued at $13,708,000 after purchasing an additional 15,940 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Acushnet by 14.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 257,293 shares of the company’s stock valued at $6,757,000 after purchasing an additional 33,293 shares during the period. Bank of Montreal Can raised its position in shares of Acushnet by 790.6% in the second quarter. Bank of Montreal Can now owns 3,304 shares of the company’s stock valued at $86,000 after purchasing an additional 2,933 shares during the period. Landscape Capital Management L.L.C. bought a new position in shares of Acushnet in the second quarter valued at approximately $4,476,000. Finally, Granite Investment Partners LLC raised its position in shares of Acushnet by 1.6% in the second quarter. Granite Investment Partners LLC now owns 745,225 shares of the company’s stock valued at $19,570,000 after purchasing an additional 11,764 shares during the period. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

About Acushnet

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.

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Analyst Recommendations for Acushnet (NYSE:GOLF)

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