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

Shares of Acushnet Holdings Corp. (NYSE:GOLF) have earned a consensus recommendation of “Hold” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $70.00.

A number of brokerages recently commented on GOLF. Compass Point lowered shares of Acushnet from a “buy” rating to a “neutral” rating and decreased their price target for the company from $80.00 to $71.00 in a research note on Monday, May 5th. KeyCorp upped their price target on shares of Acushnet from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. lowered shares of Acushnet from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. Truist Financial increased their target price on shares of Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Finally, StockNews.com cut shares of Acushnet from a “buy” rating to a “hold” rating in a report on Saturday, March 8th.

Acushnet Stock Down 1.1%

Shares of GOLF stock opened at $70.39 on Wednesday. Acushnet has a 52-week low of $55.31 and a 52-week high of $76.65. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 23.94 and a beta of 0.90. The firm’s 50-day moving average is $64.56 and its 200-day moving average is $67.66. 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 (NYSE:GOLF) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.30. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The business had revenue of $703.37 million for the quarter, compared to analyst estimates of $697.82 million. During the same quarter in the prior year, the business earned $1.35 EPS. Acushnet’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts predict that Acushnet will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.235 per share. The ex-dividend date is Friday, June 6th. This represents a $0.94 annualized dividend and a dividend yield of 1.34%. Acushnet’s dividend payout ratio is presently 26.11%.

Insider Transactions at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction that occurred 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 sale, the insider now owns 96,006 shares in the company, valued at approximately $6,802,985.16. This trade represents a 17.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 54.60% of the company’s stock.

Institutional Trading of Acushnet

Several large investors have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock valued at $25,000 after purchasing an additional 176 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Acushnet by 6.2% during the first 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 last quarter. Heritage Family Offices LLP grew its holdings in shares of Acushnet by 7.4% during the first quarter. Heritage Family Offices LLP now owns 3,090 shares of the company’s stock valued at $212,000 after buying an additional 212 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Acushnet by 1.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,100 shares of the company’s stock valued at $1,144,000 after buying an additional 213 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of Acushnet by 1.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company’s stock valued at $953,000 after buying an additional 217 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

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.