Acushnet (NYSE:GOLF) Given Consensus Rating of “Hold” by Brokerages

Shares of Acushnet (NYSE:GOLF) have been assigned a consensus rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $99.1667.

GOLF has been the subject of a number of recent research reports. Roth Capital reiterated a “neutral” rating and issued a $95.00 price target on shares of Acushnet in a research note on Friday, August 7th. Truist Financial increased their price objective on shares of Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research report on Tuesday, May 19th. Wall Street Zen upgraded shares of Acushnet from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th.

Acushnet Stock Performance

Shares of GOLF opened at $86.17 on Tuesday. The stock has a 50-day simple moving average of $102.74 and a 200-day simple moving average of $97.66. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.48 and a current ratio of 2.55. The stock has a market capitalization of $5.03 billion, a PE ratio of 23.48 and a beta of 0.81. Acushnet has a 1 year low of $73.09 and a 1 year high of $119.65.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Thursday, August 6th. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.45. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.The business had revenue of $819.95 million during the quarter, compared to the consensus estimate of $788.24 million. During the same period in the previous year, the company posted $1.25 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, analysts predict that Acushnet will post 4.02 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.255 per share. 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, September 4th. Acushnet’s payout ratio is 27.79%.

Insider Transactions at Acushnet

In other news, insider Nicholas N. Mohamed sold 529 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $50,255.00. Following the completion of the transaction, the insider directly owned 2,868 shares of the company’s stock, valued at approximately $272,460. This represents a 15.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 53.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Acushnet

Several hedge funds and other institutional investors have recently made changes to their positions in GOLF. Corient Private Wealth LP lifted its stake in Acushnet by 598.9% during the second quarter. Corient Private Wealth LP now owns 41,237 shares of the company’s stock worth $4,888,000 after purchasing an additional 35,337 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Acushnet by 42.8% in the second quarter. HighTower Advisors LLC now owns 9,864 shares of the company’s stock valued at $1,169,000 after purchasing an additional 2,957 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Acushnet in the second quarter valued at approximately $225,000. California State Teachers Retirement System increased its stake in Acushnet by 11,468.0% in the second quarter. California State Teachers Retirement System now owns 4,161,114 shares of the company’s stock valued at $493,217,000 after purchasing an additional 4,125,143 shares during the last quarter. Finally, Nykredit A S acquired a new stake in Acushnet during the second quarter worth approximately $164,000. Institutional investors and hedge funds 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.