Acushnet Holdings Corp. (NYSE:GOLF) Receives $72.80 Average Price Target from Brokerages

Acushnet Holdings Corp. (NYSE:GOLF) has been assigned an average recommendation of “Hold” from the five ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $72.80.

Several research firms have commented on GOLF. JPMorgan Chase & Co. lowered Acushnet from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating and lifted their target price for the company from $77.00 to $80.00 in a report on Tuesday, March 4th. KeyCorp reduced their price target on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, StockNews.com lowered shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th.

Acushnet Trading Up 1.4 %

Shares of Acushnet stock opened at $68.36 on Tuesday. The company has a fifty day simple moving average of $67.12 and a 200-day simple moving average of $67.62. Acushnet has a 12-month low of $58.54 and a 12-month high of $76.65. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 23.25 and a beta of 0.79.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $445.17 billion for the quarter, compared to analyst estimates of $454.83 million. On average, equities analysts forecast that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.235 dividend. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 1.38%. Acushnet’s dividend payout ratio (DPR) is 28.23%.

Insider Transactions at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $70.86, for a total value of $1,417,200.00. Following the sale, the insider now directly owns 96,006 shares of the company’s stock, valued at approximately $6,802,985.16. This represents a 17.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 54.60% of the company’s stock.

Hedge Funds Weigh In On Acushnet

A number of institutional investors have recently made changes to their positions in GOLF. Principal Financial Group Inc. lifted its stake in shares of Acushnet by 6.7% during the third quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock valued at $64,632,000 after buying an additional 63,294 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Acushnet during the third quarter worth about $1,443,000. FMR LLC raised its holdings in shares of Acushnet by 2.5% in the 3rd quarter. FMR LLC now owns 441,069 shares of the company’s stock worth $28,118,000 after purchasing an additional 10,762 shares during the period. Tidal Investments LLC acquired a new position in shares of Acushnet in the 3rd quarter valued at about $508,000. Finally, Atria Investments Inc grew its holdings in shares of Acushnet by 35.0% during the 4th quarter. Atria Investments Inc now owns 31,890 shares of the company’s stock worth $2,267,000 after purchasing an additional 8,268 shares during the period. 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.