Acushnet (NYSE:GOLF) Trading Down 2.4%

Shares of Acushnet Holdings Corp. (NYSE:GOLF) were down 2.4% on Tuesday . The stock traded as low as $64.31 and last traded at $64.31. Approximately 39,408 shares changed hands during trading, a decline of 87% from the average daily volume of 309,592 shares. The stock had previously closed at $65.88.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GOLF. Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and reduced their price target for the stock from $86.00 to $75.00 in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Acushnet from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Compass Point lowered their target price on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Truist Financial raised their price target on Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $67.43.

Acushnet Stock Performance

The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27. The stock has a fifty day moving average price of $67.00 and a two-hundred day moving average price of $64.79. The company has a market cap of $4.05 billion, a P/E ratio of 21.99 and a beta of 0.85.

Acushnet (NYSE:GOLF) last announced its earnings results 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 net margin of 7.91% and a return on equity of 21.17%. The business had revenue of $683.90 million for the quarter, compared to the consensus estimate of $709.83 million. During the same period in the previous year, the firm earned $1.09 EPS. The firm’s revenue was down .8% on a year-over-year basis. On average, equities analysts forecast that Acushnet Holdings Corp. will post 3.02 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid 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 yield of 1.34%. Acushnet’s payout ratio is 29.86%.

Insider Transactions at Acushnet

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

Institutional Investors Weigh In On Acushnet

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. increased its holdings in shares of Acushnet by 29.0% in the first quarter. Sei Investments Co. now owns 96,624 shares of the company’s stock valued at $6,372,000 after buying an additional 21,730 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of Acushnet during the first quarter worth $2,026,000. Seven Eight Capital LP purchased a new stake in shares of Acushnet during the fourth quarter valued at $1,363,000. Quantbot Technologies LP acquired a new position in shares of Acushnet in the 1st quarter valued at $1,842,000. Finally, Vanguard Group Inc. increased its stake in Acushnet by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 3,010,318 shares of the company’s stock worth $198,530,000 after purchasing an additional 15,088 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors.

About Acushnet

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.