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

Shares of Acushnet Holdings Corp. (NYSE:GOLF) have been assigned an average rating of “Hold” from the five research firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $70.80.

Several research analysts have recently commented on GOLF shares. Truist Financial lifted their target price on Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Compass Point decreased their price objective on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and reduced their target price for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th.

Acushnet Trading Up 1.1 %

NYSE GOLF opened at $62.00 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 1.27 and a debt-to-equity ratio of 0.81. The stock has a 50 day moving average of $63.78 and a 200-day moving average of $64.58. Acushnet has a 12 month low of $51.49 and a 12 month high of $74.77. The company has a market cap of $3.83 billion, a PE ratio of 21.38 and a beta of 0.85.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.09). Acushnet had a return on equity of 21.17% and a net margin of 7.91%. The firm had revenue of $683.90 million for the quarter, compared to analyst estimates of $709.83 million. During the same quarter in the prior year, the firm earned $1.09 earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts anticipate that Acushnet will post 3.02 EPS for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a $0.215 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.39%. Acushnet’s payout ratio is presently 29.66%.

Insider Buying and Selling

In other Acushnet 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 transaction of $71,250,900.00. Following the transaction, the director now owns 31,412,966 shares in the company, valued at $2,016,398,287.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 54.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Acushnet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOLF. New Covenant Trust Company N.A. acquired a new position in Acushnet in the first quarter valued at about $27,000. Brown Lisle Cummings Inc. bought a new position in Acushnet in the 3rd quarter valued at about $40,000. nVerses Capital LLC acquired a new position in shares of Acushnet in the 3rd quarter valued at approximately $57,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Acushnet by 1,719.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company’s stock worth $78,000 after acquiring an additional 1,152 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Acushnet during the 2nd quarter worth approximately $83,000. 53.12% of the stock is owned by institutional investors and hedge funds.

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.