Acushnet Holdings Corp. (NYSE:GOLF) Receives $67.43 Average PT from Brokerages

Shares of Acushnet Holdings Corp. (NYSE:GOLF) have received an average rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $67.43.

Several brokerages have recently commented on GOLF. Jefferies Financial Group downgraded Acushnet from a “buy” rating to a “hold” rating and reduced their target price for the stock from $86.00 to $75.00 in a research note on Tuesday, September 17th. Truist Financial upped their target price on Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Compass Point dropped their price target on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th.

Insider Activity

In other news, Director Holdings Corp. Fila sold 1,110,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.19, for a total value of $71,250,900.00. Following the sale, the director now directly owns 31,412,966 shares of the company’s stock, valued at $2,016,398,287.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 54.60% of the company’s stock.

Hedge Funds Weigh In On Acushnet

Hedge funds have recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new stake in shares of Acushnet during the first quarter worth $27,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Acushnet by 101.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock valued at $76,000 after buying an additional 585 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Acushnet in the 2nd quarter worth $83,000. Crestwood Advisors Group LLC purchased a new position in Acushnet during the 2nd quarter worth approximately $200,000. Finally, Algert Global LLC acquired a new position in Acushnet in the second quarter valued at approximately $203,000. 53.12% of the stock is currently owned by institutional investors.

Acushnet Stock Performance

Acushnet stock opened at $63.45 on Friday. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 22.03 and a beta of 0.84. The company has a quick ratio of 1.27, a current ratio of 2.28 and a debt-to-equity ratio of 0.81. The stock has a 50-day simple moving average of $65.50 and a 200 day simple moving average of $64.79. Acushnet has a 12-month low of $49.42 and a 12-month high of $74.77.

Acushnet (NYSE:GOLF) last posted its earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.09). Acushnet had a return on equity of 21.17% and a net margin of 7.91%. The firm had revenue of $683.90 million during the quarter, compared to analyst estimates of $709.83 million. During the same quarter last year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, research analysts anticipate that Acushnet will post 3.02 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $0.215 per share. The ex-dividend date was Friday, September 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.36%. Acushnet’s dividend payout ratio (DPR) is currently 29.86%.

Acushnet Company Profile

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.