Brokerages Set Acushnet (NYSE:GOLF) Price Target at $78.17

Shares of Acushnet (NYSE:GOLF) have been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $78.1667.

A number of brokerages have weighed in on GOLF. Roth Capital restated a “neutral” rating and set a $80.00 price objective on shares of Acushnet in a research note on Thursday, November 6th. Truist Financial raised their price target on shares of Acushnet from $65.00 to $74.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. KeyCorp lifted their price target on shares of Acushnet from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Acushnet from $67.00 to $74.00 and gave the stock an “underweight” rating in a report on Monday, December 15th.

Acushnet Stock Performance

Acushnet stock opened at $83.16 on Thursday. Acushnet has a 12-month low of $55.31 and a 12-month high of $86.19. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.42 and a quick ratio of 1.30. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 22.72 and a beta of 0.89. The firm’s fifty day moving average price is $81.47 and its 200 day moving average price is $78.65.

Acushnet (NYSE:GOLF) last announced its earnings results on Wednesday, November 5th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The business had revenue of $657.66 million for the quarter, compared to analyst estimates of $632.76 million. During the same quarter in the prior year, the business earned $0.89 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. On average, research analysts forecast that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, December 5th. Acushnet’s payout ratio is currently 25.68%.

Insider Activity at Acushnet

In other news, CEO David Eugene Maher sold 26,939 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $79.33, for a total value of $2,137,070.87. Following the completion of the sale, the chief executive officer directly owned 852,092 shares in the company, valued at approximately $67,596,458.36. The trade was a 3.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $84.66, for a total value of $1,693,200.00. Following the sale, the insider directly owned 76,006 shares in the company, valued at approximately $6,434,667.96. This represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 71,460 shares of company stock worth $5,786,311 in the last 90 days. 53.60% of the stock is currently owned by insiders.

Institutional Trading of Acushnet

Institutional investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. raised its holdings in shares of Acushnet by 389.6% during the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after purchasing an additional 261 shares during the period. Kelleher Financial Advisors bought a new stake in shares of Acushnet during the 3rd quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its stake in Acushnet by 149.7% during the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after acquiring an additional 295 shares during the period. Nisa Investment Advisors LLC raised its stake in Acushnet by 83.7% during the second quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock worth $39,000 after acquiring an additional 246 shares during the period. Finally, Allworth Financial LP lifted its holdings in Acushnet by 57.3% in the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock worth $40,000 after acquiring an additional 184 shares during the last quarter. Institutional investors own 53.12% of the company’s stock.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.