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

Key Points

• Acushnet (NYSE:GOLF) has received an average rating of "Hold" from seven research firms, with one sell, four hold, and two buy recommendations; the average price target is $73.00.
• In recent insider activity, Mary Louise Bohn sold 13,190 shares at an average price of $78.85, reducing her stake by 6.43% while retaining ownership of 191,786 shares.
• Acushnet reported EPS of $1.25 for the last quarter, missing estimates by $0.08, while its revenue of $720.48 million exceeded expectations, marking a 5.4% year-over-year increase.

Shares of Acushnet (NYSE:GOLF - Get Free Report) have earned an average recommendation of "Hold" from the seven research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $73.00.

GOLF has been the subject of several research analyst reports. Zacks Research cut Acushnet from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. KeyCorp raised 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. Weiss Ratings restated a "buy (b)" rating on shares of Acushnet in a report on Wednesday. Finally, Morgan Stanley raised their price objective on Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th.

Insider Activity

In other news, insider Mary Louise Bohn sold 13,190 shares of the firm's 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 $15,122,326.10. This trade represents a 6.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 53.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Acushnet

Institutional investors and hedge funds have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Acushnet during the 1st quarter worth approximately $629,000. American Century Companies Inc. lifted its stake in shares of Acushnet by 9.9% during the 1st quarter. American Century Companies Inc. now owns 20,742 shares of the company's stock worth $1,424,000 after acquiring an additional 1,860 shares during the last quarter. Praxis Investment Management Inc. bought a new stake in shares of Acushnet during the 1st quarter worth approximately $290,000. Mackenzie Financial Corp bought a new stake in shares of Acushnet during the 1st quarter worth approximately $273,000. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Acushnet by 6.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company's stock worth $240,000 after acquiring an additional 203 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

Acushnet Stock Performance

NYSE GOLF opened at $77.99 on Friday. The stock has a market capitalization of $4.57 billion, a PE ratio of 20.85 and a beta of 0.89. The business has a 50 day simple moving average of $77.33 and a two-hundred day simple moving average of $72.64. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.25 and a quick ratio of 1.21. Acushnet has a 1-year low of $55.31 and a 1-year high of $84.40.

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

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, September 5th. Acushnet's dividend payout ratio (DPR) 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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