Acushnet (NYSE:GOLF) Receives Consensus Rating of “Hold” from Brokerages

Acushnet (NYSE:GOLF) has received a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $76.50.

Several equities analysts have recently issued reports on GOLF shares. Truist Financial boosted their price target on shares of Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Acushnet in a research report on Wednesday, October 8th. Zacks Research cut shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. KeyCorp raised their price target on shares of Acushnet from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Finally, Roth Capital reiterated a “neutral” rating and set a $80.00 price objective on shares of Acushnet in a research report on Thursday, November 6th.

Insiders Place Their Bets

In related news, CEO David Eugene Maher sold 26,939 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $79.33, for a total value of $2,137,070.87. Following the completion of the sale, the chief executive officer owned 852,092 shares of the company’s stock, valued at $67,596,458.36. This represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $84.66, for a total transaction of $1,693,200.00. Following the completion of the transaction, the insider owned 76,006 shares of the company’s stock, valued at $6,434,667.96. This represents a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 71,460 shares of company stock valued at $5,786,311 in the last quarter. 53.60% of the stock is currently owned by insiders.

Institutional Trading of Acushnet

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Acushnet by 9.6% in the first quarter. Vanguard Group Inc. now owns 3,090,666 shares of the company’s stock valued at $212,205,000 after acquiring an additional 269,742 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Acushnet by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,549,266 shares of the company’s stock worth $106,366,000 after purchasing an additional 42,533 shares during the period. Wellington Management Group LLP boosted its stake in Acushnet by 6.7% during the 1st quarter. Wellington Management Group LLP now owns 1,310,965 shares of the company’s stock valued at $90,011,000 after purchasing an additional 82,247 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Acushnet by 0.4% during the 2nd quarter. Raymond James Financial Inc. now owns 952,453 shares of the company’s stock valued at $69,358,000 after purchasing an additional 4,243 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Acushnet by 238.0% during the 3rd quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock valued at $55,269,000 after purchasing an additional 495,794 shares during the period. 53.12% of the stock is currently owned by institutional investors.

Acushnet Stock Down 0.5%

NYSE:GOLF opened at $84.10 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.30 and a debt-to-equity ratio of 1.03. The stock has a 50 day moving average of $79.60 and a 200-day moving average of $76.77. The firm has a market capitalization of $4.93 billion, a PE ratio of 22.98 and a beta of 0.90. Acushnet has a 52 week low of $55.31 and a 52 week high of $85.95.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $657.66 million for the quarter, compared to analyst estimates of $632.76 million. Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 EPS. Acushnet has set its FY 2025 guidance at EPS. Analysts predict that Acushnet will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.94 annualized dividend and a yield of 1.1%. Acushnet’s payout ratio is presently 25.68%.

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.