Acushnet Holdings Corp. (NYSE:GOLF) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Acushnet Holdings Corp. (NYSE:GOLF) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $66.38.

Several research analysts have recently weighed in on GOLF shares. JPMorgan Chase & Co. upped their price target on shares of Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Truist Financial increased their price objective on shares of Acushnet from $62.00 to $63.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th.

Acushnet Trading Down 0.3 %

Acushnet stock opened at $65.26 on Thursday. Acushnet has a 52 week low of $49.42 and a 52 week high of $70.10. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.46 and a current ratio of 2.69. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 22.66 and a beta of 0.88. The company has a 50 day moving average price of $63.89 and a 200 day moving average price of $64.05.

Acushnet (NYSE:GOLF) last announced its earnings results on Tuesday, May 7th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.24 by $0.19. The firm had revenue of $707.55 million for the quarter, compared to the consensus estimate of $692.41 million. Acushnet had a net margin of 8.03% and a return on equity of 20.65%. Research analysts forecast that Acushnet will post 3.13 EPS for the current year.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.215 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.32%. Acushnet’s dividend payout ratio is currently 29.86%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. New Covenant Trust Company N.A. purchased a new position in Acushnet in the 1st quarter worth approximately $27,000. Federated Hermes Inc. purchased a new stake in shares of Acushnet during the 4th quarter worth approximately $32,000. Gladius Capital Management LP purchased a new stake in shares of Acushnet during the 4th quarter worth approximately $37,000. Principal Securities Inc. purchased a new stake in shares of Acushnet during the 4th quarter worth approximately $37,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Acushnet by 101.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock worth $76,000 after acquiring an additional 585 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors.

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.