Analysts Set Acushnet Holdings Corp. (NYSE:GOLF) PT at $70.00

Acushnet Holdings Corp. (NYSE:GOLF - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $70.00.

GOLF has been the topic of a number of research reports. JPMorgan Chase & Co. downgraded shares of Acushnet from a "neutral" rating to an "underweight" rating and reduced their target price for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. Compass Point downgraded shares of Acushnet from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $80.00 to $71.00 in a report on Monday, May 5th. KeyCorp boosted their target price on shares of Acushnet from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Truist Financial boosted their target price on shares of Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Finally, StockNews.com lowered shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th.

Acushnet Price Performance

NYSE GOLF traded up $1.66 on Wednesday, reaching $72.13. The company had a trading volume of 297,453 shares, compared to its average volume of 376,338. The firm's 50 day moving average price is $64.70 and its 200 day moving average price is $67.84. Acushnet has a 12 month low of $55.31 and a 12 month high of $76.65. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $4.24 billion, a PE ratio of 24.53 and a beta of 0.90.

Acushnet (NYSE:GOLF - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.30. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm had revenue of $703.37 million for the quarter, compared to the consensus estimate of $697.82 million. During the same period in the previous year, the firm posted $1.35 EPS. The business's quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts predict that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Friday, June 6th. Acushnet's dividend payout ratio (DPR) is currently 26.11%.

Insider Buying and Selling

In other news, insider Steven Francis Pelisek sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the transaction, the insider now directly owns 96,006 shares of the company's stock, valued at approximately $6,802,985.16. This trade represents a 17.24% decrease in their ownership of the stock. The sale 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 corporate insiders.

Hedge Funds Weigh In On Acushnet

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its position in shares of Acushnet by 100.6% during the fourth quarter. Blue Trust Inc. now owns 351 shares of the company's stock worth $25,000 after acquiring an additional 176 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Acushnet during the fourth quarter worth approximately $31,000. KBC Group NV purchased a new position in shares of Acushnet during the first quarter worth approximately $44,000. GAMMA Investing LLC increased its position in shares of Acushnet by 96.1% during the first quarter. GAMMA Investing LLC now owns 651 shares of the company's stock worth $45,000 after acquiring an additional 319 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in shares of Acushnet during the fourth quarter worth approximately $51,000. 53.12% of the stock is owned by hedge funds and other 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.