Acushnet Holdings Corp. (NYSE:GOLF) Receives Consensus Recommendation of “Hold” from Analysts

Acushnet Holdings Corp. (NYSE:GOLF) has received an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $66.43.

Several brokerages have weighed in on GOLF. JPMorgan Chase & Co. boosted their price objective on Acushnet from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Truist Financial boosted their price target on shares of Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Compass Point reduced their price objective on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th.

Insider Buying and Selling at Acushnet

In related news, Director Holdings Corp. Fila sold 1,110,000 shares of Acushnet stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.19, for a total value of $71,250,900.00. Following the sale, the director now owns 31,412,966 shares of the company’s stock, valued at $2,016,398,287.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 54.60% of the company’s stock.

Institutional Investors Weigh In On Acushnet

Institutional investors and hedge funds have recently modified their holdings of the company. Sei Investments Co. raised its stake in Acushnet by 29.0% in the 1st quarter. Sei Investments Co. now owns 96,624 shares of the company’s stock valued at $6,372,000 after acquiring an additional 21,730 shares during the period. Capstone Investment Advisors LLC acquired a new position in shares of Acushnet in the first quarter valued at $2,026,000. Seven Eight Capital LP bought a new position in shares of Acushnet in the fourth quarter valued at about $1,363,000. Strs Ohio acquired a new stake in shares of Acushnet during the 4th quarter worth about $890,000. Finally, Quantbot Technologies LP bought a new stake in shares of Acushnet during the 1st quarter worth about $1,842,000. 53.12% of the stock is owned by institutional investors.

Acushnet Stock Performance

NYSE:GOLF opened at $65.73 on Friday. The stock has a market capitalization of $4.15 billion, a P/E ratio of 22.82 and a beta of 0.85. The company has a current ratio of 2.69, a quick ratio of 1.46 and a debt-to-equity ratio of 0.91. Acushnet has a 1 year low of $49.42 and a 1 year high of $74.77. The firm has a 50 day moving average of $66.01 and a 200-day moving average of $64.93.

Acushnet (NYSE:GOLF) last announced its earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). Acushnet had a net margin of 8.03% and a return on equity of 20.65%. The business had revenue of $683.90 million during the quarter, compared to analyst estimates of $709.83 million. During the same quarter last year, the business posted $1.09 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Acushnet will post 3.12 EPS for the current fiscal year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, September 6th. Acushnet’s dividend payout ratio is presently 29.86%.

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.