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

Acushnet (NYSE:GOLF) has been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $73.00.

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their target price on Acushnet from $63.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, July 18th. KeyCorp lifted their target price on Acushnet from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Acushnet in a research report on Wednesday. Finally, Zacks Research lowered Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st.

Insider Activity

In other news, insider Mary Louise Bohn sold 13,190 shares of Acushnet stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $78.85, for a total value of $1,040,031.50. Following the transaction, the insider directly owned 191,786 shares in the company, valued at approximately $15,122,326.10. This trade represents a 6.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 53.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its stake in Acushnet by 149.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after buying an additional 295 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Acushnet by 83.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock worth $39,000 after buying an additional 246 shares during the last quarter. Bessemer Group Inc. grew its stake in Acushnet by 78.6% during the 2nd quarter. Bessemer Group Inc. now owns 575 shares of the company’s stock worth $42,000 after buying an additional 253 shares during the last quarter. KBC Group NV purchased a new position in Acushnet during the 1st quarter worth $44,000. Finally, GAMMA Investing LLC grew its stake in Acushnet by 96.1% during the 1st quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock worth $45,000 after buying an additional 319 shares during the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Trading Down 3.3%

Shares of NYSE GOLF opened at $77.99 on Friday. The company has a quick ratio of 1.21, a current ratio of 2.25 and a debt-to-equity ratio of 1.13. The business has a fifty day simple moving average of $77.33 and a two-hundred day simple moving average of $72.64. The firm has a market cap of $4.57 billion, a PE ratio of 20.85 and a beta of 0.89. Acushnet has a twelve month low of $55.31 and a twelve month high of $84.40.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, August 7th. The company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.08). The firm had revenue of $720.48 million for the quarter, compared to the consensus estimate of $713.70 million. Acushnet had a net margin of 9.24% and a return on equity of 28.05%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $1.11 earnings per share. Analysts expect that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were issued a $0.235 dividend. The ex-dividend date was Friday, September 5th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.2%. Acushnet’s dividend payout ratio (DPR) is currently 25.13%.

Acushnet Company Profile

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.