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

Shares of Acushnet Holdings Corp. (NYSE:GOLF) have been given a consensus rating of “Hold” by the six ratings firms that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $66.17.

Several research firms have commented on GOLF. Truist Financial increased their price target on shares of Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. 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 research report on Tuesday, May 28th. Finally, Compass Point decreased their price target on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th.

Acushnet Stock Down 0.3 %

NYSE:GOLF opened at $65.18 on Tuesday. The firm has a market cap of $4.03 billion, a PE ratio of 22.63 and a beta of 0.85. The company has a 50-day moving average of $66.60 and a 200 day moving average of $64.95. Acushnet has a 1-year low of $49.42 and a 1-year high of $74.77. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.09). The firm had revenue of $683.90 million for the quarter, compared to analysts’ expectations of $709.83 million. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 earnings per share. As a group, research analysts anticipate that Acushnet will post 3.02 EPS for the current fiscal year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.32%. Acushnet’s dividend payout ratio (DPR) is currently 29.86%.

Insider Activity

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

Hedge Funds Weigh In On Acushnet

Hedge funds and other institutional investors have recently bought and sold shares of the business. New Covenant Trust Company N.A. acquired a new position in Acushnet in the 1st quarter worth approximately $27,000. Principal Securities Inc. acquired a new stake in shares of Acushnet during the 4th quarter worth approximately $37,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Acushnet by 101.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock worth $76,000 after purchasing an additional 585 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Acushnet during the 2nd quarter worth approximately $83,000. Finally, Crestwood Advisors Group LLC acquired a new stake in shares of Acushnet during the 2nd quarter worth approximately $200,000. 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.