Analysts Set Acushnet Holdings Corp. (NYSE:GOLF) Target Price at $66.38

Acushnet Holdings Corp. (NYSE:GOLF) has been assigned an average rating of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $66.38.

A number of equities research analysts have issued reports on the company. Truist Financial increased their price target on Acushnet from $62.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. increased their price target on shares of Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th.

Institutional Investors Weigh In On Acushnet

Several institutional investors have recently bought and sold shares of GOLF. Azzad Asset Management Inc. ADV increased its holdings in Acushnet by 1.9% in the first quarter. Azzad Asset Management Inc. ADV now owns 9,305 shares of the company’s stock valued at $614,000 after buying an additional 173 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Acushnet by 7.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,898 shares of the company’s stock valued at $257,000 after buying an additional 269 shares in the last quarter. Franklin Resources Inc. increased its holdings in Acushnet by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 20,815 shares of the company’s stock valued at $1,315,000 after buying an additional 317 shares in the last quarter. ProShare Advisors LLC increased its holdings in Acushnet by 6.6% in the first quarter. ProShare Advisors LLC now owns 5,447 shares of the company’s stock valued at $359,000 after buying an additional 339 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Acushnet by 7.9% in the first quarter. US Bancorp DE now owns 5,363 shares of the company’s stock valued at $354,000 after buying an additional 393 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Stock Performance

GOLF stock opened at $63.48 on Thursday. The stock has a market capitalization of $4.00 billion, a PE ratio of 22.04 and a beta of 0.88. Acushnet has a 12-month low of $49.42 and a 12-month high of $70.10. The company has a current ratio of 2.69, a quick ratio of 1.46 and a debt-to-equity ratio of 0.91. The stock’s 50 day simple moving average is $63.99 and its 200 day simple moving average is $64.14.

Acushnet (NYSE:GOLF) last announced its earnings results on Tuesday, May 7th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.19. The business had revenue of $707.55 million during the quarter, compared to analyst estimates of $692.41 million. Acushnet had a net margin of 8.03% and a return on equity of 20.65%. As a group, research analysts forecast that Acushnet will post 3.13 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a $0.215 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.86 annualized dividend and a yield of 1.35%. Acushnet’s dividend payout ratio (DPR) is 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.