Acushnet (NYSE:GOLF) Receives Consensus Rating of "Hold" from Brokerages

Shares of Acushnet (NYSE:GOLF - Get Free Report) have earned an average rating of "Hold" from the five analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $71.00.

Several analysts have recently commented on GOLF shares. Wall Street Zen downgraded Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. KeyCorp reaffirmed an "overweight" rating and issued a $80.00 price objective (up from $75.00) on shares of Acushnet in a research report on Friday, June 27th. Compass Point cut Acushnet from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. Finally, Truist Financial upped their price target on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Thursday, May 8th.

Acushnet Price Performance

Shares of GOLF stock opened at $76.67 on Thursday. Acushnet has a 12-month low of $55.31 and a 12-month high of $76.73. The firm has a fifty day moving average of $69.84 and a 200-day moving average of $67.99. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 21.30 and a beta of 0.84. The company has a quick ratio of 1.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.19.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.30. Acushnet had a return on equity of 26.81% and a net margin of 9.21%. The firm had revenue of $703.37 million for the quarter, compared to analyst estimates of $697.82 million. During the same quarter in the prior year, the company earned $1.35 earnings per share. The business's revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts forecast that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.23%. Acushnet's dividend payout ratio is currently 26.11%.

Hedge Funds Weigh In On Acushnet

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Acushnet by 9.6% in the first quarter. Vanguard Group Inc. now owns 3,090,666 shares of the company's stock worth $212,205,000 after purchasing an additional 269,742 shares during the period. Dimensional Fund Advisors LP grew its holdings in Acushnet by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,549,266 shares of the company's stock worth $106,366,000 after purchasing an additional 42,533 shares during the period. Wellington Management Group LLP grew its holdings in Acushnet by 6.7% in the first quarter. Wellington Management Group LLP now owns 1,310,965 shares of the company's stock worth $90,011,000 after purchasing an additional 82,247 shares during the period. Principal Financial Group Inc. grew its holdings in Acushnet by 7.9% in the first quarter. Principal Financial Group Inc. now owns 1,104,699 shares of the company's stock worth $75,849,000 after purchasing an additional 80,676 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Acushnet by 5.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company's stock worth $76,654,000 after purchasing an additional 54,314 shares during the period. 53.12% of the stock is owned by institutional investors.

About Acushnet

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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