Acushnet (NYSE:GOLF) Stock Has Consensus Target Price of $96.57 According to Brokerages

Shares of Acushnet (NYSE:GOLF) have been given an average recommendation of “Hold” by the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $96.57.

Several brokerages have recently commented on GOLF. Wall Street Zen upgraded shares of Acushnet from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Roth Capital reaffirmed a “neutral” rating and issued a $95.00 target price on shares of Acushnet in a report on Friday, August 7th. Weiss Ratings cut shares of Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, September 28th. Finally, Stephens cut their price target on shares of Acushnet from $88.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 14th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GOLF. BlackRock Inc. acquired a new stake in Acushnet in the 2nd quarter valued at about $496,463,000. Corient Private Wealth LP raised its stake in shares of Acushnet by 598.9% in the second quarter. Corient Private Wealth LP now owns 41,237 shares of the company’s stock worth $4,888,000 after acquiring an additional 35,337 shares during the last quarter. EFG International AG acquired a new position in shares of Acushnet during the second quarter worth approximately $4,994,000. The Manufacturers Life Insurance Company acquired a new position in shares of Acushnet during the second quarter worth approximately $1,723,000. Finally, Legal & General Group Plc acquired a new position in shares of Acushnet during the second quarter worth approximately $7,997,000. Institutional investors own 53.12% of the company’s stock.

Acushnet Stock Performance

Acushnet stock opened at $82.53 on Wednesday. Acushnet has a one year low of $75.16 and a one year high of $119.65. The business has a 50 day simple moving average of $83.65 and a 200 day simple moving average of $94.22.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Thursday, August 6th. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.63 by $0.45. The company had revenue of $819.95 million during the quarter, compared to analyst estimates of $788.24 million. During the same period in the prior year, the firm earned $1.25 EPS. Acushnet’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Acushnet will post 4.02 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were paid a dividend of $0.2550 per share. This represents a $1.02 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, September 4th.

Acushnet Company Profile

Acushnet Holdings Corp. is a golf equipment and performance-wear company headquartered in Fairhaven, Massachusetts. Through a portfolio of recognized brands, the company develops, manufactures and markets products used by golfers and golf facilities worldwide.

Its principal brands include Titleist, which offers golf balls, clubs, golf bags, gloves and accessories; FootJoy, which specializes in golf footwear, apparel and gloves; Scotty Cameron, known for premium putters and related accessories; and KJUS, which produces high-performance golf and outdoor apparel.