Acushnet (NYSE:GOLF) Receives Average Recommendation of “Hold” from Analysts

Acushnet (NYSE:GOLF) has received a consensus rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $79.8333.

Several equities analysts recently issued reports on GOLF shares. Morgan Stanley lifted their price objective on shares of Acushnet from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on Acushnet from $67.00 to $74.00 and gave the company an “underweight” rating in a report on Monday, December 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Acushnet in a research report on Wednesday, October 8th. 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. Finally, KeyCorp reiterated a “sector weight” rating on shares of Acushnet in a research note on Friday.

Insider Buying and Selling

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the firm’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 completion of the sale, the insider directly owned 76,006 shares in the company, valued at $6,434,667.96. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Eugene Maher sold 26,939 shares of Acushnet stock in a transaction on Friday, November 14th. The stock was sold at an average price of $79.33, for a total transaction of $2,137,070.87. Following the completion of the transaction, the chief executive officer directly owned 852,092 shares in the company, valued at $67,596,458.36. This represents a 3.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 71,460 shares of company stock valued at $5,786,311 in the last three months. 53.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Acushnet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Burney Co. acquired a new stake in Acushnet during the 3rd quarter worth about $2,932,000. Envestnet Asset Management Inc. lifted its holdings in shares of Acushnet by 8.6% during the second quarter. Envestnet Asset Management Inc. now owns 246,963 shares of the company’s stock worth $17,984,000 after purchasing an additional 19,612 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Acushnet by 61,260.0% during the second quarter. Parkside Financial Bank & Trust now owns 12,272 shares of the company’s stock worth $894,000 after purchasing an additional 12,252 shares during the period. Fisher Asset Management LLC boosted its position in Acushnet by 35.1% in the second quarter. Fisher Asset Management LLC now owns 208,357 shares of the company’s stock valued at $15,173,000 after buying an additional 54,088 shares during the last quarter. Finally, Callan Family Office LLC increased its holdings in Acushnet by 1,313.0% in the 2nd quarter. Callan Family Office LLC now owns 92,267 shares of the company’s stock worth $6,719,000 after buying an additional 85,737 shares during the period. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Stock Performance

GOLF stock opened at $91.87 on Monday. Acushnet has a 1-year low of $55.31 and a 1-year high of $94.18. The business has a 50-day moving average price of $83.51 and a 200 day moving average price of $80.12. The company has a market capitalization of $5.39 billion, a P/E ratio of 25.10 and a beta of 0.88. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.42 and a quick ratio of 1.30.

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

Acushnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, December 5th. Acushnet’s payout ratio is 25.68%.

Acushnet Company Profile

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.