Acushnet (NYSE:GOLF) Receives Average Recommendation of “Hold” from Analysts

Acushnet (NYSE:GOLF) has received a consensus rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $97.8333.

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Truist Financial lifted their price target on Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a report on Tuesday, May 19th. Roth Capital set a $87.00 price target on shares of Acushnet in a research report on Thursday, May 7th. Finally, Weiss Ratings lowered shares of Acushnet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th.

Acushnet Stock Up 0.0%

GOLF stock opened at $114.82 on Monday. 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 firm has a 50-day moving average of $100.54 and a two-hundred day moving average of $96.86. Acushnet has a 12 month low of $73.09 and a 12 month high of $119.65. The company has a market cap of $6.72 billion, a price-to-earnings ratio of 40.43 and a beta of 0.80.

Acushnet (NYSE:GOLF) last issued its earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.02). The company had revenue of $752.98 million for the quarter, compared to analyst estimates of $722.48 million. Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.62 earnings per share. As a group, analysts forecast that Acushnet will post 3.82 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

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

Insider Activity

In other Acushnet news, insider Nicholas N. Mohamed sold 529 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $95.00, for a total value of $50,255.00. Following the transaction, the insider directly owned 2,868 shares in the company, valued at $272,460. The trade was a 15.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven Francis Pelisek sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the sale, the insider owned 70,512 shares of the company’s stock, valued at $6,434,925.12. This represents a 17.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GOLF. Millstone Evans Group LLC lifted its stake in shares of Acushnet by 170.2% in the 1st quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock valued at $26,000 after purchasing an additional 177 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Acushnet by 389.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after purchasing an additional 261 shares during the last quarter. Kelleher Financial Advisors acquired a new stake in shares of Acushnet during the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC raised its holdings in Acushnet by 149.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after buying an additional 295 shares during the period. Finally, Allworth Financial LP lifted its position in Acushnet by 57.3% in the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after buying an additional 184 shares during the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

About Acushnet

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.