Analysts Set Acushnet Holdings Corp. (NYSE:GOLF) PT at $72.80

Shares of Acushnet Holdings Corp. (NYSE:GOLF) have earned an average recommendation of “Hold” from the five brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $72.80.

Several equities analysts have weighed in on the stock. StockNews.com cut shares of Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Compass Point raised Acushnet from a “neutral” rating to a “buy” rating and upped their price target for the company from $77.00 to $80.00 in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lowered Acushnet from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. Finally, KeyCorp dropped their target price on Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, February 28th.

Acushnet Trading Up 2.1 %

Shares of NYSE GOLF opened at $68.74 on Tuesday. The business has a fifty day simple moving average of $66.89 and a 200-day simple moving average of $67.73. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 23.38 and a beta of 0.79. Acushnet has a 12 month low of $58.54 and a 12 month high of $76.65. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.31. The company had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. Sell-side analysts predict that Acushnet will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.235 dividend. The ex-dividend date was Friday, March 7th. This is a boost from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 1.37%. Acushnet’s payout ratio is 28.23%.

Insider Transactions at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the sale, the insider now owns 96,006 shares of the company’s stock, valued at $6,802,985.16. The trade was a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 54.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Acushnet

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOLF. Dimensional Fund Advisors LP grew its holdings in Acushnet by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company’s stock valued at $107,097,000 after purchasing an additional 5,661 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Acushnet by 5.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company’s stock worth $76,654,000 after buying an additional 54,314 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Acushnet by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company’s stock worth $72,783,000 after buying an additional 10,166 shares during the period. Raymond James Financial Inc. bought a new position in Acushnet in the 4th quarter worth $62,713,000. Finally, Jane Street Group LLC lifted its position in Acushnet by 702.1% during the 3rd quarter. Jane Street Group LLC now owns 508,705 shares of the company’s stock worth $32,430,000 after acquiring an additional 445,281 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

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.