Acushnet (NYSE:GOLF) Given Consensus Recommendation of “Hold” by Analysts

Acushnet (NYSE:GOLF) has earned a consensus rating of “Hold” from the eight analysts that are covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $94.1667.

Several equities analysts have recently commented on the company. Weiss Ratings lowered Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 27th. Jefferies Financial Group reiterated a “hold” rating on shares of Acushnet in a report on Thursday, February 26th. UBS Group set a $100.00 price target on Acushnet in a research report on Thursday, February 26th. Roth Mkm set a $87.00 price target on Acushnet in a research report on Thursday, May 7th. Finally, Truist Financial increased their price target on Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research report on Tuesday, May 19th.

Acushnet Stock Up 3.4%

Acushnet stock opened at $100.90 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.87 and a quick ratio of 1.59. The business has a 50 day simple moving average of $93.01 and a 200-day simple moving average of $92.24. The stock has a market capitalization of $5.91 billion, a PE ratio of 35.53 and a beta of 0.85. Acushnet has a 12 month low of $70.28 and a 12 month high of $104.81.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The firm had revenue of $752.98 million during the quarter, compared to analyst estimates of $722.48 million. Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.62 earnings per share. On average, analysts anticipate that Acushnet will post 3.82 EPS for the current fiscal year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be issued a $0.255 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.0%. Acushnet’s dividend payout ratio is presently 35.92%.

Insider Transactions at Acushnet

In related news, insider Steven Francis Pelisek sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the transaction, the insider owned 70,512 shares in the company, valued at $6,434,925.12. This trade represents a 17.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nicholas N. Mohamed sold 529 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total value of $50,255.00. Following the transaction, the insider owned 2,868 shares in the company, valued at $272,460. This represents a 15.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 53.30% of the company’s stock.

Institutional Trading of Acushnet

Hedge funds have recently modified their holdings of the business. Millstone Evans Group LLC grew its stake in shares of Acushnet by 170.2% during the 1st quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock worth $26,000 after purchasing an additional 177 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of Acushnet by 389.6% in the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after acquiring an additional 261 shares during the last quarter. Kelleher Financial Advisors acquired a new position in shares of Acushnet in the third quarter worth $28,000. EverSource Wealth Advisors LLC raised its holdings in shares of Acushnet by 149.7% in the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after acquiring an additional 295 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Acushnet by 57.3% in the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock worth $40,000 after acquiring an additional 184 shares during the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.