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

Shares of Acushnet Holdings Corp. (NYSE:GOLF) have been given a consensus recommendation of “Hold” by the five brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $70.60.

A number of research analysts recently issued reports on the stock. StockNews.com lowered shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Truist Financial decreased their target price on Acushnet from $68.00 to $64.00 and set a “hold” rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered shares of Acushnet from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. KeyCorp cut their target price on Acushnet from $77.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, Compass Point upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $77.00 to $80.00 in a research note on Tuesday, March 4th.

Insider Activity

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction on Monday, March 10th. The shares were sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the completion of the sale, the insider now owns 96,006 shares of the company’s stock, valued at approximately $6,802,985.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 54.60% of the company’s stock.

Institutional Investors Weigh In On Acushnet

A number of institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its position in shares of Acushnet by 6.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock worth $64,632,000 after buying an additional 63,294 shares during the period. Tidal Investments LLC acquired a new position in Acushnet during the third quarter valued at approximately $508,000. Sei Investments Co. increased its stake in Acushnet by 4.3% in the fourth quarter. Sei Investments Co. now owns 102,137 shares of the company’s stock valued at $7,260,000 after purchasing an additional 4,256 shares in the last quarter. Atria Investments Inc raised its holdings in Acushnet by 35.0% in the fourth quarter. Atria Investments Inc now owns 31,890 shares of the company’s stock worth $2,267,000 after purchasing an additional 8,268 shares during the period. Finally, Barclays PLC boosted its position in shares of Acushnet by 361.5% during the third quarter. Barclays PLC now owns 48,563 shares of the company’s stock worth $3,096,000 after purchasing an additional 38,041 shares in the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Acushnet Trading Down 1.2 %

Shares of NYSE GOLF opened at $62.25 on Friday. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 21.17 and a beta of 0.84. The business has a 50 day simple moving average of $64.31 and a 200 day simple moving average of $67.28. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. Acushnet has a 52 week low of $55.31 and a 52 week high of $76.65.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.31. The firm had revenue of $445.17 billion for the quarter, compared to the consensus estimate of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. On average, research analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.235 dividend. The ex-dividend date was Friday, March 7th. This is an increase from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.51%. Acushnet’s payout ratio is currently 28.23%.

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.