Acushnet Holdings Corp. (NYSE:GOLF) Given Average Recommendation of "Hold" by Brokerages

Acushnet Holdings Corp. (NYSE:GOLF - Get Free Report) has been assigned an average rating of "Hold" from the five analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on 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.

A number of brokerages recently issued reports on GOLF. Wall Street Zen lowered shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Compass Point lowered shares of Acushnet from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $80.00 to $71.00 in a research report on Monday, May 5th. KeyCorp boosted their price objective on shares of Acushnet from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Finally, Truist Financial upped their price objective on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Thursday, May 8th.

Acushnet Stock Performance

Shares of NYSE:GOLF traded down $0.44 during midday trading on Friday, hitting $72.75. The company's stock had a trading volume of 257,196 shares, compared to its average volume of 384,621. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The stock's 50 day simple moving average is $65.90 and its 200 day simple moving average is $68.13. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 24.75 and a beta of 0.84. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $76.65.

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

Acushnet Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, June 6th. This represents a $0.94 annualized dividend and a yield of 1.29%. Acushnet's dividend payout ratio (DPR) is currently 26.11%.

Institutional Investors Weigh In On Acushnet

Several institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its holdings in shares of Acushnet by 100.6% during the 4th 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 bought a new stake in Acushnet in the fourth quarter valued at about $31,000. KBC Group NV acquired a new position in Acushnet in the first quarter worth about $44,000. GAMMA Investing LLC lifted its stake in Acushnet by 96.1% during the first quarter. GAMMA Investing LLC now owns 651 shares of the company's stock worth $45,000 after purchasing an additional 319 shares during the period. Finally, Lazard Asset Management LLC bought a new position in Acushnet during the fourth quarter worth about $51,000. Institutional investors own 53.12% of the company's stock.

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.