Acushnet (NYSE:GOLF) Given Average Rating of "Hold" by Brokerages

Key Points

• Acushnet (NYSE:GOLF) has received a consensus rating of "Hold" from seven ratings firms, with an average 12-month target price of $73.33.
• Insider transactions indicate significant activity, with Mary Louise Bohn selling 13,190 shares for approximately $1.04 million, and another director reducing their stake considerably.
• The company reported $1.25 earnings per share for the last quarter, missing expectations, while revenue increased by 5.4% year-over-year.

Acushnet (NYSE:GOLF - Get Free Report) has received a consensus rating of "Hold" from the seven ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $73.3333.

A number of equities analysts recently issued reports on the company. KeyCorp upped their price target on Acushnet from $80.00 to $85.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Zacks Research downgraded Acushnet from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Finally, Morgan Stanley increased their price objective on Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, July 18th.

Insider Activity at Acushnet

In other news, insider Mary Louise Bohn sold 13,190 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $78.85, for a total value of $1,040,031.50. Following the completion of the sale, the insider directly owned 191,786 shares of the company's stock, valued at approximately $15,122,326.10. This represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Holdings Corp. Misto sold 953,406 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $65.56, for a total value of $62,505,297.36. Following the completion of the sale, the director directly owned 29,523,653 shares of the company's stock, valued at $1,935,570,690.68. The trade was a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 53.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Acushnet

Several large investors have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new stake in shares of Acushnet during the second quarter worth $1,966,000. State of Wyoming lifted its holdings in shares of Acushnet by 82.3% during the second quarter. State of Wyoming now owns 7,292 shares of the company's stock worth $531,000 after purchasing an additional 3,292 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Acushnet by 3.9% during the second quarter. Public Sector Pension Investment Board now owns 90,174 shares of the company's stock worth $6,566,000 after purchasing an additional 3,404 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Acushnet by 389.4% during the second quarter. Tower Research Capital LLC TRC now owns 4,150 shares of the company's stock worth $302,000 after purchasing an additional 3,302 shares during the period. Finally, SkyView Investment Advisors LLC lifted its holdings in shares of Acushnet by 2.7% during the second quarter. SkyView Investment Advisors LLC now owns 16,956 shares of the company's stock worth $1,243,000 after purchasing an additional 450 shares during the period. 53.12% of the stock is owned by institutional investors and hedge funds.

Acushnet Stock Performance

Shares of GOLF opened at $74.67 on Tuesday. The stock has a 50 day moving average price of $78.21 and a 200 day moving average price of $71.29. The company has a quick ratio of 1.21, a current ratio of 2.25 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 19.97 and a beta of 0.90. Acushnet has a 52-week low of $55.31 and a 52-week high of $84.40.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.33 by ($0.08). The business had revenue of $720.48 million during the quarter, compared to analyst estimates of $713.70 million. Acushnet had a net margin of 9.24% and a return on equity of 28.05%. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $1.11 earnings per share. Research analysts predict that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, September 5th. Acushnet's dividend payout ratio is presently 25.13%.

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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