Acushnet (NYSE:GOLF) Given Consensus Recommendation of “Hold” by Analysts

Acushnet (NYSE:GOLFGet Free Report) has been assigned a consensus rating of “Hold” from the eight analysts that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $94.1667.

Several research firms have recently weighed in on GOLF. Weiss Ratings lowered Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Roth Mkm set a $87.00 price objective on Acushnet in a research note on Thursday, May 7th. Jefferies Financial Group reissued a “hold” rating on shares of Acushnet in a research note on Thursday, February 26th. Zacks Research lowered Acushnet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, UBS Group set a $100.00 price objective on Acushnet in a research note on Thursday, February 26th.

View Our Latest Analysis on GOLF

Acushnet Stock Performance

Shares of NYSE GOLF opened at $89.06 on Friday. The stock has a fifty day moving average price of $92.86 and a two-hundred day moving average price of $91.01. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.59 and a current ratio of 2.87. The firm has a market cap of $5.21 billion, a P/E ratio of 31.36 and a beta of 0.88. Acushnet has a 1 year low of $67.14 and a 1 year high of $104.81.

Acushnet (NYSE:GOLFGet Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The firm had revenue of $752.98 million for the quarter, compared to the consensus estimate of $722.48 million. Acushnet had a net margin of 6.54% and a return on equity of 22.95%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.62 earnings per share. Research analysts forecast that Acushnet will post 3.82 EPS for the current fiscal year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be paid a dividend of $0.255 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.02 annualized dividend and a dividend yield of 1.1%. Acushnet’s dividend payout ratio (DPR) is currently 35.92%.

Insider Buying and Selling at Acushnet

In other news, insider Steven Francis Pelisek sold 15,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total value of $1,368,900.00. Following the completion of the sale, the insider owned 70,512 shares of the company’s stock, valued at $6,434,925.12. This trade represents a 17.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gregory A. Hewett sold 4,206 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $100.00, for a total value of $420,600.00. Following the completion of the sale, the director directly owned 37,017 shares of the company’s stock, valued at approximately $3,701,700. This trade represents a 10.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 53.30% of the company’s stock.

Institutional Trading of Acushnet

Hedge funds and other institutional investors have recently modified their holdings of the business. Public Sector Pension Investment Board boosted its position in shares of Acushnet by 19.2% in the third quarter. Public Sector Pension Investment Board now owns 107,493 shares of the company’s stock worth $8,437,000 after buying an additional 17,319 shares during the period. Fisher Asset Management LLC boosted its position in shares of Acushnet by 238.0% in the third quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock worth $55,269,000 after buying an additional 495,794 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of Acushnet in the third quarter worth $5,382,000. M&T Bank Corp boosted its position in shares of Acushnet by 668.1% in the fourth quarter. M&T Bank Corp now owns 159,874 shares of the company’s stock worth $12,761,000 after buying an additional 139,060 shares during the period. Finally, Quantbot Technologies LP boosted its position in shares of Acushnet by 53.1% in the third quarter. Quantbot Technologies LP now owns 39,478 shares of the company’s stock worth $3,099,000 after buying an additional 13,693 shares during the period. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Acushnet (NYSE:GOLF)

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