Equities research analysts forecast that Acushnet Holdings Corp (NYSE:GOLF) will post $361.56 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Acushnet’s earnings. The lowest sales estimate is $358.48 million and the highest is $365.00 million. Acushnet reported sales of $343.36 million during the same quarter last year, which indicates a positive year over year growth rate of 5.3%. The business is expected to report its next earnings report on Thursday, February 27th.

According to Zacks, analysts expect that Acushnet will report full year sales of $1.68 billion for the current financial year, with estimates ranging from $1.67 billion to $1.68 billion. For the next year, analysts anticipate that the firm will report sales of $1.72 billion, with estimates ranging from $1.71 billion to $1.75 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Acushnet.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.10. Acushnet had a return on equity of 12.07% and a net margin of 6.92%. The firm had revenue of $417.20 million for the quarter, compared to analysts’ expectations of $398.32 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Acushnet’s revenue for the quarter was up 12.6% compared to the same quarter last year.

Several analysts have issued reports on GOLF shares. Imperial Capital upped their price objective on Acushnet from $24.00 to $27.00 and gave the company an “inline” rating in a research note on Friday, November 1st. Jefferies Financial Group cut Acushnet from a “buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a research note on Monday, January 6th. They noted that the move was a valuation call. Compass Point upgraded Acushnet from a “neutral” rating to a “buy” rating in a research note on Thursday, January 2nd. ValuEngine cut Acushnet from a “hold” rating to a “sell” rating in a research note on Tuesday, January 7th. Finally, Wells Fargo & Co upped their price objective on Acushnet from $25.00 to $28.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.72.

In other news, insider Christopher Aaron Lindner sold 10,436 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $29.68, for a total transaction of $309,740.48. Following the sale, the insider now directly owns 79,944 shares in the company, valued at approximately $2,372,737.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 53.90% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its holdings in Acushnet by 89.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,018 shares of the company’s stock worth $27,000 after buying an additional 482 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Acushnet by 3,520.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,231 shares of the company’s stock worth $32,000 after buying an additional 1,197 shares in the last quarter. Bank of Montreal Can grew its holdings in Acushnet by 790.6% in the 2nd quarter. Bank of Montreal Can now owns 3,304 shares of the company’s stock worth $86,000 after buying an additional 2,933 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Acushnet in the 3rd quarter worth approximately $139,000. Finally, Balyasny Asset Management LLC bought a new position in Acushnet in the 2nd quarter worth approximately $251,000. Institutional investors and hedge funds own 48.66% of the company’s stock.

NYSE GOLF traded down $0.14 on Friday, hitting $32.20. 381,237 shares of the stock traded hands, compared to its average volume of 209,400. The stock has a 50-day moving average of $32.11 and a 200 day moving average of $28.45. Acushnet has a twelve month low of $22.30 and a twelve month high of $33.50. The company has a market capitalization of $2.43 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 3.83 and a beta of 1.01. The company has a current ratio of 1.95, a quick ratio of 1.06 and a debt-to-equity ratio of 0.33.

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.

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