Acushnet (NYSE:GOLF) Receives $94.17 Average PT from Analysts

Shares of Acushnet (NYSE:GOLF) have received an average rating of “Hold” from the eight research firms that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $94.1667.

GOLF has been the subject of several research analyst reports. UBS Group set a $100.00 target price on Acushnet in a research note on Thursday, February 26th. Truist Financial upped their target price on Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research report on Tuesday, May 19th. Jefferies Financial Group reiterated a “hold” rating on shares of Acushnet in a research report on Thursday, February 26th. Weiss Ratings downgraded Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 27th. Finally, Roth Mkm set a $87.00 price objective on Acushnet in a research report on Thursday, May 7th.

Acushnet Stock Performance

Shares of NYSE:GOLF opened at $109.51 on Thursday. The stock has a market capitalization of $6.41 billion, a P/E ratio of 38.56 and a beta of 0.85. Acushnet has a 1-year low of $71.56 and a 1-year high of $111.21. The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36. The business has a 50-day moving average price of $94.08 and a two-hundred day moving average price of $93.09.

Acushnet (NYSE:GOLF) last released its quarterly 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 business had revenue of $752.98 million for the quarter, compared to analyst estimates of $722.48 million. During the same period in the prior year, the business earned $1.62 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts predict that Acushnet will post 3.82 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were paid a $0.255 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.02 annualized dividend and a dividend yield of 0.9%. Acushnet’s dividend payout ratio is presently 35.92%.

Insider Activity

In other Acushnet news, insider Steven Francis Pelisek sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total value of $1,368,900.00. Following the transaction, the insider owned 70,512 shares in the company, valued at approximately $6,434,925.12. This represents a 17.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas N. Mohamed sold 529 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total value of $50,255.00. Following the completion of the transaction, the insider owned 2,868 shares in the company, valued at $272,460. This represents a 15.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 53.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Acushnet

A number of large investors have recently made changes to their positions in GOLF. Oregon Public Employees Retirement Fund boosted its stake in Acushnet by 1.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,300 shares of the company’s stock valued at $503,000 after buying an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in Acushnet by 3.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,213 shares of the company’s stock valued at $336,000 after purchasing an additional 133 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Acushnet by 2.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,779 shares of the company’s stock valued at $461,000 after purchasing an additional 135 shares during the period. PNC Financial Services Group Inc. increased its holdings in Acushnet by 2.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,046 shares of the company’s stock valued at $553,000 after purchasing an additional 140 shares during the period. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of Acushnet by 1.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 15,021 shares of the company’s stock worth $1,404,000 after acquiring an additional 142 shares during the period. 53.12% of the stock is owned by institutional investors.

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.