Analysts Set Acushnet (NYSE:GOLF) PT at $74.80

Shares of Acushnet (NYSE:GOLF) have earned a consensus recommendation of “Hold” from the eight research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $76.50.

A number of equities analysts recently weighed in on the company. Roth Capital reissued a “neutral” rating and set a $80.00 price objective on shares of Acushnet in a report on Thursday, November 6th. Truist Financial lifted their price target on shares of Acushnet from $65.00 to $74.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Morgan Stanley boosted their price objective on shares of Acushnet from $63.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. KeyCorp increased their target price on shares of Acushnet from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, Zacks Research cut shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st.

Acushnet Stock Performance

NYSE GOLF opened at $80.18 on Wednesday. Acushnet has a 52-week low of $55.31 and a 52-week high of $84.40. The company has a fifty day moving average of $78.08 and a 200-day moving average of $75.55. The company has a market capitalization of $4.70 billion, a P/E ratio of 21.91 and a beta of 0.90. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.30 and a current ratio of 2.42.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The firm had revenue of $657.66 million for the quarter, compared to analysts’ expectations of $632.76 million. During the same quarter in the previous year, the business earned $0.89 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Acushnet has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a $0.235 dividend. The ex-dividend date is Friday, December 5th. This represents a $0.94 annualized dividend and a dividend yield of 1.2%. Acushnet’s payout ratio is currently 25.68%.

Insider Buying and Selling at Acushnet

In related news, insider Mary Louise Bohn sold 13,190 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $78.85, for a total transaction of $1,040,031.50. Following the completion of the sale, the insider directly owned 191,786 shares in the company, valued at $15,122,326.10. This represents a 6.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 53.60% of the company’s stock.

Institutional Trading of Acushnet

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in shares of Acushnet by 96.1% during the first quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock valued at $45,000 after purchasing an additional 319 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Acushnet by 6.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company’s stock valued at $240,000 after buying an additional 203 shares during the period. KBC Group NV bought a new stake in Acushnet in the 1st quarter worth $44,000. Amalgamated Bank increased its position in shares of Acushnet by 712.0% in the first quarter. Amalgamated Bank now owns 7,836 shares of the company’s stock valued at $538,000 after acquiring an additional 6,871 shares during the period. Finally, New York State Teachers Retirement System purchased a new position in shares of Acushnet in the first quarter valued at about $414,000. Institutional investors own 53.12% of the company’s stock.

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.