Acushnet (NYSE:GOLF) Shares Cross Below 50-Day Moving Average – Should You Sell?

Acushnet (NYSE:GOLF) shares passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $93.77 and traded as low as $85.73. Acushnet shares last traded at $86.03, with a volume of 300,291 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GOLF shares. Jefferies Financial Group reissued a “hold” rating on shares of Acushnet in a research note on Thursday, February 26th. Zacks Research cut Acushnet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Truist Financial increased their target price on Acushnet from $74.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. raised Acushnet from an “underweight” rating to a “neutral” rating and increased their target price for the company from $74.00 to $96.00 in a research note on Friday, January 23rd. Finally, Roth Mkm set a $87.00 target price on Acushnet in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Acushnet has an average rating of “Hold” and an average price target of $93.83.

Acushnet Stock Up 0.7%

The company has a debt-to-equity ratio of 1.36, a current ratio of 2.87 and a quick ratio of 1.59. The company has a market capitalization of $5.04 billion, a P/E ratio of 30.29 and a beta of 0.88. The company has a 50 day moving average of $93.77 and a 200-day moving average of $90.38.

Acushnet (NYSE:GOLF) last posted its earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.02). The business had revenue of $752.98 million during the quarter, compared to the consensus estimate of $722.48 million. Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 earnings per share. As a group, equities analysts anticipate that Acushnet will post 3.82 EPS for the current year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be issued a $0.255 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.02 annualized dividend and a yield of 1.2%. Acushnet’s dividend payout ratio (DPR) is 35.92%.

Insider Buying and Selling

In other Acushnet news, Director Gregory A. Hewett sold 4,206 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $100.00, for a total value of $420,600.00. Following the completion of the sale, the director directly owned 37,017 shares in the company, valued at $3,701,700. This trade represents a 10.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 53.30% of the stock is owned by company insiders.

Institutional Trading of Acushnet

Several institutional investors and hedge funds have recently bought and sold shares of GOLF. Royal Bank of Canada lifted its holdings in Acushnet by 6.6% in the first 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 during the period. AQR Capital Management LLC lifted its holdings in 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 buying an additional 475 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in 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 buying an additional 548 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Acushnet by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,560 shares of the company’s stock worth $1,137,000 after buying an additional 460 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Acushnet by 39.0% in the first quarter. Goldman Sachs Group Inc. now owns 249,807 shares of the company’s stock worth $17,152,000 after buying an additional 70,095 shares during the period. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

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.