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

Shares of Acushnet (NYSE:GOLF) have earned a consensus recommendation of “Hold” from the eight research firms that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $99.1667.

Several analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Truist Financial upped their price target on Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research note on Tuesday, May 19th. JPMorgan Chase & Co. raised their price target on Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Wall Street Zen raised Acushnet from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Roth Capital reaffirmed a “neutral” rating and issued a $95.00 price objective on shares of Acushnet in a research note on Friday, August 7th.

Acushnet Trading Down 0.9%

NYSE GOLF opened at $86.17 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.55 and a quick ratio of 1.48. The stock has a market capitalization of $5.03 billion, a P/E ratio of 23.48 and a beta of 0.81. The firm’s 50-day moving average is $102.74 and its two-hundred day moving average is $97.66. Acushnet has a 12 month low of $73.09 and a 12 month high of $119.65.

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

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 4th. Acushnet’s payout ratio is currently 27.79%.

Insider Transactions at Acushnet

In other Acushnet news, insider Nicholas N. Mohamed sold 529 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $50,255.00. Following the sale, the insider directly owned 2,868 shares in the company, valued at $272,460. This represents a 15.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 53.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in Acushnet by 6.6% during the 1st quarter. Royal Bank of Canada now owns 88,703 shares of the company’s stock worth $6,090,000 after buying an additional 5,510 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Acushnet by 2.5% in the first quarter. AQR Capital Management LLC now owns 19,498 shares of the company’s stock worth $1,339,000 after acquiring an additional 475 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Acushnet by 13.5% in the first quarter. Integrated Wealth Concepts LLC now owns 4,603 shares of the company’s stock worth $316,000 after acquiring an additional 548 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Acushnet by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,560 shares of the company’s stock worth $1,137,000 after acquiring an additional 460 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Acushnet by 39.0% during the first quarter. Goldman Sachs Group Inc. now owns 249,807 shares of the company’s stock worth $17,152,000 after acquiring an additional 70,095 shares during the period. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Acushnet Company Profile

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.