Acushnet (NYSE:GOLF) Stock Rated “Hold” by Sell-Side Analysts

Acushnet (NYSE:GOLF) has received an average rating of “Hold” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold recommendation. The average 1 year price target among brokers that have covered the stock in the last year is $97.67.

A number of equities analysts recently issued reports on the stock. Weiss Ratings downgraded shares of Acushnet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, November 9th. Roth Capital reaffirmed a “neutral” rating and set a $95.00 target price on shares of Acushnet in a report on Friday, August 7th. Stephens decreased their price target on shares of Acushnet from $88.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 14th. Finally, Wall Street Zen cut shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC purchased a new position in shares of Acushnet in the second quarter valued at $36,000. Kelleher Financial Advisors purchased a new stake in Acushnet during the second quarter valued at $42,000. Public Employees Retirement System of Ohio purchased a new stake in Acushnet during the second quarter valued at $52,000. Compass Wealth Management LLC bought a new position in Acushnet during the third quarter valued at $39,000. Finally, Signaturefd LLC lifted its position in Acushnet by 93.1% during the third quarter. Signaturefd LLC now owns 475 shares of the company’s stock valued at $39,000 after purchasing an additional 229 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors.

Acushnet Stock Up 1.6%

Shares of GOLF traded up $1.33 on Friday, hitting $82.79. 204,405 shares of the stock traded hands, compared to its average volume of 306,693. Acushnet has a one year low of $76.96 and a one year high of $119.65. The company has a market capitalization of $4.74 billion, a PE ratio of 22.44 and a beta of 0.77. The business has a 50 day simple moving average of $82.87 and a 200 day simple moving average of $93.79. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 2.02.

Acushnet (NYSE:GOLF) last issued its earnings results on Wednesday, November 4th. The company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.15). Acushnet had a return on equity of 27.92% and a net margin of 8.17%. The business had revenue of $649.23 million during the quarter, compared to analysts’ expectations of $647.99 million. During the same period last year, the firm posted $0.81 EPS. Acushnet’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, equities analysts forecast that Acushnet will post 3.92 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be paid a dividend of $0.2550 per share. The ex-dividend date is Friday, December 4th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.2%. Acushnet’s payout ratio is 27.64%.

About Acushnet

Acushnet Holdings Corp. develops, manufactures and markets golf equipment, apparel and accessories. Its brands include Titleist, known for golf balls, clubs and related equipment; FootJoy, which offers golf footwear, gloves and apparel; and Scotty Cameron and Vokey Design, which specialize in putters and wedges. The company also sells golf balls under the Pinnacle brand. Acushnet traces its roots to 1910, when it was established as the Acushnet Process Company. Over time, it became focused on golf and built a portfolio of brands serving recreational and professional players.