Acushnet (NYSE:GOLF) Given Average Recommendation of “Hold” by Brokerages

Acushnet (NYSE:GOLF) has been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation. The average twelve-month target price among analysts that have covered the stock in the last year is $89.5714.

Several equities research analysts have recently weighed in on GOLF shares. JPMorgan Chase & Co. upgraded shares of Acushnet from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $74.00 to $96.00 in a research note on Friday, January 23rd. Morgan Stanley increased their price objective on Acushnet from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 22nd. Zacks Research downgraded Acushnet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. KeyCorp restated a “sector weight” rating on shares of Acushnet in a research note on Friday, January 16th. Finally, Truist Financial increased their price target on Acushnet from $74.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, February 9th.

Acushnet Stock Up 0.1%

GOLF stock opened at $95.64 on Tuesday. The company has a fifty day moving average price of $94.90 and a 200 day moving average price of $85.07. Acushnet has a 12 month low of $55.31 and a 12 month high of $104.81. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 30.85 and a beta of 0.88. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.38 and a quick ratio of 0.97.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.31). The business had revenue of $477.22 million for the quarter, compared to analysts’ expectations of $453.59 million. Acushnet had a return on equity of 25.49% and a net margin of 7.37%.The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) earnings per share. Sell-side analysts expect that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a $0.255 dividend. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Acushnet’s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a dividend yield of 1.1%. Acushnet’s payout ratio is presently 32.90%.

Insider Activity

In other news, Director Gregory A. Hewett sold 4,206 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $100.00, for a total transaction of $420,600.00. Following the transaction, the director directly owned 37,017 shares in the company, valued at $3,701,700. The trade was a 10.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 53.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Acushnet

A number of institutional investors have recently added to or reduced their stakes in the business. Burney Co. purchased a new stake in shares of Acushnet in the third quarter valued at approximately $2,932,000. Fisher Asset Management LLC grew its holdings in Acushnet by 35.1% during the second quarter. Fisher Asset Management LLC now owns 208,357 shares of the company’s stock worth $15,173,000 after acquiring an additional 54,088 shares during the period. Tributary Capital Management LLC raised its position in Acushnet by 92.6% in the third quarter. Tributary Capital Management LLC now owns 457,490 shares of the company’s stock worth $35,908,000 after acquiring an additional 219,895 shares in the last quarter. Public Sector Pension Investment Board raised its position in 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 acquiring an additional 17,319 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Acushnet by 0.8% in the second quarter. Geode Capital Management LLC now owns 662,194 shares of the company’s stock valued at $48,227,000 after acquiring an additional 5,009 shares during the period. Hedge funds and other institutional investors own 53.12% of the company’s stock.

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.