Acushnet Holdings Corp. (NYSE:GOLF) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Acushnet Holdings Corp. (NYSE:GOLF) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $66.86.

Several research firms recently issued reports on GOLF. Truist Financial upped their price target on shares of Acushnet from $62.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday. KeyCorp lifted their target price on Acushnet from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, January 12th.

Acushnet Trading Down 3.5 %

GOLF traded down $2.32 during trading on Wednesday, hitting $63.12. 96,160 shares of the company’s stock were exchanged, compared to its average volume of 351,713. The stock has a 50 day moving average price of $63.50 and a 200 day moving average price of $61.80. Acushnet has a 1 year low of $43.62 and a 1 year high of $70.10. The company has a current ratio of 2.21, a quick ratio of 0.84 and a debt-to-equity ratio of 0.74. The firm has a market cap of $4.00 billion, a P/E ratio of 21.85 and a beta of 0.88.

Acushnet (NYSE:GOLF) last announced its earnings results on Thursday, February 29th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.03). Acushnet had a net margin of 8.33% and a return on equity of 20.09%. The company had revenue of $413.00 million for the quarter, compared to analysts’ expectations of $429.16 million. The company’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, analysts expect that Acushnet will post 3.17 EPS for the current fiscal year.

Acushnet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Acushnet’s previous quarterly dividend of $0.20. Acushnet’s dividend payout ratio is currently 29.76%.

Insider Activity at Acushnet

In other news, insider John Francis Duke, Jr. sold 17,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the completion of the sale, the insider now owns 130,472 shares in the company, valued at approximately $8,391,959.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider John Francis Duke, Jr. sold 17,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the completion of the sale, the insider now directly owns 130,472 shares of the company’s stock, valued at approximately $8,391,959.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brendan J. Reidy sold 9,000 shares of Acushnet stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $64.49, for a total transaction of $580,410.00. Following the completion of the transaction, the insider now owns 58,588 shares in the company, valued at approximately $3,778,340.12. The disclosure for this sale can be found here. 54.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Acushnet

Large investors have recently modified their holdings of the stock. Federated Hermes Inc. acquired a new stake in shares of Acushnet during the 4th quarter worth about $32,000. Gladius Capital Management LP bought a new stake in Acushnet during the fourth quarter worth about $37,000. Principal Securities Inc. acquired a new stake in shares of Acushnet during the fourth quarter worth approximately $37,000. TFO Wealth Partners LLC increased its holdings in shares of Acushnet by 64,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 646 shares of the company’s stock worth $410,000 after buying an additional 645 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its stake in shares of Acushnet by 43.3% in the third quarter. First Horizon Advisors Inc. now owns 711 shares of the company’s stock valued at $38,000 after acquiring an additional 215 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors.

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.