Acushnet Holdings Corp. (NYSE:GOLF) Receives Consensus Rating of “Hold” from Analysts

Acushnet Holdings Corp. (NYSE:GOLF) has been assigned a consensus rating of “Hold” from the five analysts that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $70.80.

Several research analysts have recently issued reports on GOLF shares. Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and lowered their price target for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th. Truist Financial increased their target price on Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Finally, Compass Point reduced their price target on Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th.

Insider Transactions at Acushnet

In other news, Director Holdings Corp. Fila sold 1,110,000 shares of the company’s stock in a transaction on 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 approximately $2,016,398,287.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 54.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GOLF. Vanguard Group Inc. lifted its stake in Acushnet by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,010,318 shares of the company’s stock valued at $198,530,000 after buying an additional 15,088 shares during the period. Principal Financial Group Inc. lifted its position in shares of Acushnet by 6.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock valued at $64,632,000 after acquiring an additional 63,294 shares during the period. Victory Capital Management Inc. boosted its stake in Acushnet by 871.1% during the second quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock worth $62,948,000 after acquiring an additional 889,515 shares in the last quarter. Raymond James & Associates grew its holdings in Acushnet by 0.9% in the third quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock worth $29,714,000 after purchasing an additional 4,300 shares during the period. Finally, Tributary Capital Management LLC increased its stake in Acushnet by 0.3% in the second quarter. Tributary Capital Management LLC now owns 266,374 shares of the company’s stock valued at $16,909,000 after purchasing an additional 791 shares in the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Acushnet Stock Performance

Acushnet stock opened at $62.00 on Wednesday. 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 market cap of $3.83 billion, a PE ratio of 21.38 and a beta of 0.85. Acushnet has a 12-month low of $51.49 and a 12-month high of $74.77. The business’s 50-day moving average price is $63.78 and its two-hundred day moving average price is $64.58.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.09). The company had revenue of $683.90 million for the quarter, compared to the consensus estimate of $709.83 million. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share. As a group, analysts expect that Acushnet will post 3.02 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.215 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.39%. Acushnet’s dividend payout ratio (DPR) is presently 29.66%.

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.