Acushnet (NYSE:GOLF) Shares Cross Below 50-Day Moving Average – Should You Sell?

Acushnet (NYSE:GOLF) shares crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $93.77 and traded as low as $85.73. Acushnet shares last traded at $86.03, with a volume of 300,291 shares.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings upgraded shares of Acushnet from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, May 8th. Zacks Research lowered shares of Acushnet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Truist Financial lifted their target price on shares of Acushnet from $74.00 to $95.00 and gave the company a “hold” rating in a report on Monday, February 9th. Roth Mkm set a $87.00 target price on shares of Acushnet in a report on Thursday, May 7th. Finally, Morgan Stanley lifted their target price on shares of Acushnet from $90.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $93.83.

Acushnet Stock Performance

The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.59 and a current ratio of 2.87. The firm has a market cap of $5.04 billion, a P/E ratio of 30.29 and a beta of 0.88. The business’s 50-day simple moving average is $93.77 and its 200 day simple moving average is $90.38.

Acushnet (NYSE:GOLF) last posted its earnings results on Wednesday, May 6th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The company had revenue of $752.98 million during the quarter, compared to the consensus estimate of $722.48 million. During the same period last year, the firm posted $1.62 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts predict that Acushnet will post 3.82 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 5th. Acushnet’s payout ratio is 35.92%.

Insider Buying and Selling

In other Acushnet news, Director Gregory A. Hewett sold 4,206 shares of Acushnet stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $100.00, for a total value of $420,600.00. Following the completion of the sale, the director owned 37,017 shares of the company’s stock, valued at approximately $3,701,700. The trade was a 10.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 53.30% of the company’s stock.

Institutional Investors Weigh In On Acushnet

Large investors have recently added to or reduced their stakes in the stock. Millstone Evans Group LLC grew its position in shares of Acushnet by 170.2% during the 1st quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock valued at $26,000 after acquiring an additional 177 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Acushnet by 389.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock valued at $26,000 after acquiring an additional 261 shares during the period. Kelleher Financial Advisors bought a new stake in shares of Acushnet during the 3rd quarter valued at $28,000. EverSource Wealth Advisors LLC grew its position in shares of Acushnet by 149.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after acquiring an additional 295 shares during the period. Finally, Allworth Financial LP grew its position in shares of Acushnet by 57.3% during the 3rd quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after acquiring an additional 184 shares during the period. 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.