Acushnet Holdings Corp. (NYSE:GOLF) Given Average Recommendation of “Hold” by Analysts

Shares of Acushnet Holdings Corp. (NYSE:GOLF) have received an average rating of “Hold” from the five research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $72.80.

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

Insider Transactions at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were 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 directly owns 96,006 shares of the company’s stock, valued at approximately $6,802,985.16. This represents a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 54.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Acushnet

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

Acushnet Price Performance

GOLF stock opened at $67.37 on Tuesday. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The firm’s 50-day moving average price is $66.99 and its two-hundred day moving average price is $67.66. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 22.92 and a beta of 0.79. Acushnet has a 12-month low of $58.54 and a 12-month high of $76.65.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.31. The business 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%. As a group, equities analysts predict that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.235 per share. This is an increase from Acushnet’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 7th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.40%. Acushnet’s payout ratio is presently 28.23%.

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.