Acushnet Holdings Corp. (NYSE:GOLF) Receives $67.43 Average PT from Analysts

Acushnet Holdings Corp. (NYSE:GOLF) has received a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $67.43.

A number of research firms have commented on GOLF. Jefferies Financial Group lowered shares of Acushnet from a “buy” rating to a “hold” rating and reduced their price objective for the company from $86.00 to $75.00 in a research note on Tuesday, September 17th. Compass Point reduced their price target on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Truist Financial lifted their price objective on shares of Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th.

Insider Activity

In other Acushnet news, Director Holdings Corp. Fila sold 1,110,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.19, for a total transaction of $71,250,900.00. Following the completion of the transaction, the director now owns 31,412,966 shares of the company’s stock, valued at $2,016,398,287.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 54.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GOLF. New Covenant Trust Company N.A. bought a new position in shares of Acushnet during the 1st quarter worth about $27,000. Brown Lisle Cummings Inc. bought a new position in Acushnet during the third quarter worth about $40,000. nVerses Capital LLC bought a new position in Acushnet during the third quarter worth about $57,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Acushnet by 1,719.4% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company’s stock valued at $78,000 after purchasing an additional 1,152 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Acushnet in the 2nd quarter valued at approximately $83,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Stock Performance

GOLF opened at $62.03 on Wednesday. The business has a 50 day moving average price of $63.87 and a two-hundred day moving average price of $64.53. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 21.39 and a beta of 0.84. Acushnet has a 1-year low of $51.49 and a 1-year high of $74.77.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.09). The business had revenue of $683.90 million during the quarter, compared to the consensus estimate of $709.83 million. Acushnet had a return on equity of 21.17% and a net margin of 7.91%. Acushnet’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 earnings per share. Research analysts predict that Acushnet will post 3.02 EPS for the current fiscal year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $0.215 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.86 annualized dividend and a yield of 1.39%. Acushnet’s dividend payout ratio (DPR) is currently 29.66%.

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.