Acushnet Holdings Corp. (NYSE:GOLF) Receives Average Rating of "Hold" from Brokerages

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

Several equities analysts recently weighed in on the company. Truist Financial increased their target price on Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Wall Street Zen lowered shares of Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. KeyCorp raised their target price on shares of Acushnet from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Finally, Compass Point lowered shares of Acushnet from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $80.00 to $71.00 in a research report on Monday, May 5th.

Insider Transactions at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the sale, the insider now owns 96,006 shares of the company's stock, valued at $6,802,985.16. This represents a 17.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 53.60% of the company's stock.

Institutional Investors Weigh In On Acushnet

Several hedge funds have recently modified their holdings of the stock. Sei Investments Co. grew its position in Acushnet by 4.3% in the fourth quarter. Sei Investments Co. now owns 102,137 shares of the company's stock valued at $7,260,000 after acquiring an additional 4,256 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Acushnet by 8.1% in the fourth quarter. Bank of America Corp DE now owns 135,518 shares of the company's stock valued at $9,633,000 after purchasing an additional 10,150 shares during the period. Principal Financial Group Inc. grew its holdings in Acushnet by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company's stock valued at $72,783,000 after purchasing an additional 10,166 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Acushnet by 93.1% during the 4th quarter. Renaissance Technologies LLC now owns 19,693 shares of the company's stock valued at $1,400,000 after purchasing an additional 9,493 shares in the last quarter. Finally, Atria Investments Inc increased its stake in Acushnet by 35.0% during the 4th quarter. Atria Investments Inc now owns 31,890 shares of the company's stock worth $2,267,000 after buying an additional 8,268 shares during the period. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Stock Performance

NYSE GOLF opened at $71.13 on Friday. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $76.65. The business has a fifty day moving average of $65.55 and a 200-day moving average of $68.11. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 24.19 and a beta of 0.90.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.30. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $703.37 million during 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. Acushnet's revenue was down .6% on a year-over-year basis. As a group, analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.235 per share. The ex-dividend date is Friday, June 6th. This represents a $0.94 annualized dividend and a yield of 1.32%. Acushnet's dividend payout ratio is currently 26.11%.

Acushnet Company Profile

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.

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