Acushnet (NYSE:GOLF) Given Average Recommendation of "Hold" by Analysts

Key Points

• Acushnet (NYSE:GOLF) has an average analyst recommendation of “Hold” from eight covering firms, with an average 12-month price target of about $97.83.
• The company’s latest quarterly results showed revenue of $752.98 million, topping expectations, but EPS of $1.36 fell slightly short of the $1.38 consensus estimate.
• Acushnet recently paid a quarterly dividend of $0.255 per share and has seen notable insider selling, including a 15,000-share sale by insider Steven Francis Pelisek.

Acushnet (NYSE:GOLF - Get Free Report) has received an average recommendation of "Hold" from the eight ratings firms that are covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating. The average 12-month target price among analysts that have covered the stock in the last year is $97.8333.

A number of brokerages have recently issued reports on GOLF. Weiss Ratings cut shares of Acushnet from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday. Truist Financial upped their target price on shares of Acushnet from $95.00 to $97.00 and gave the stock a "hold" rating in a report on Tuesday, May 19th. Roth Capital set a $87.00 price target on Acushnet in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. raised their price target on Acushnet from $96.00 to $118.00 and gave the company a "neutral" rating in a report on Friday, June 26th.

Acushnet Stock Performance

GOLF opened at $110.29 on Monday. The company's 50 day moving average is $98.33 and its 200 day moving average is $95.78. The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 38.83 and a beta of 0.80. Acushnet has a 12-month low of $73.09 and a 12-month high of $119.65.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.02). Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The company had revenue of $752.98 million during the quarter, compared to analysts' expectations of $722.48 million. During the same quarter last year, the company earned $1.62 earnings per share. The company's revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts predict that Acushnet will post 3.82 EPS for the current year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, June 5th. Acushnet's payout ratio is 35.92%.

Insider Buying and Selling

In other news, insider Steven Francis Pelisek sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the sale, the insider directly owned 70,512 shares of the company's stock, valued at $6,434,925.12. This represents a 17.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas N. Mohamed sold 529 shares of the company's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $50,255.00. Following the sale, the insider directly owned 2,868 shares in the company, valued at approximately $272,460. The trade was a 15.57% decrease in their position. The SEC filing for this sale provides additional information. 53.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Millstone Evans Group LLC grew its position in Acushnet by 170.2% in the 1st quarter. Millstone Evans Group LLC now owns 281 shares of the company's stock valued at $26,000 after acquiring an additional 177 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in Acushnet by 389.6% in the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company's stock worth $26,000 after purchasing an additional 261 shares during the period. Kelleher Financial Advisors bought a new stake in shares of Acushnet during the third quarter worth $28,000. EverSource Wealth Advisors LLC lifted its position in shares of Acushnet by 149.7% during the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company's stock worth $36,000 after purchasing an additional 295 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Acushnet by 57.3% during the third quarter. Allworth Financial LP now owns 505 shares of the company's stock valued at $40,000 after purchasing an additional 184 shares during the period. Institutional investors own 53.12% of the company's stock.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company's portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet's product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.

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