Acushnet (NYSE:GOLF) Receives $72.50 Average Price Target from Analysts

Key Points

• Acushnet (NYSE:GOLF) has received a consensus recommendation of "Hold" from six ratings firms, with target prices ranging from $64.00 to $80.00.
• The company recently reported $1.62 EPS for the last quarter, exceeding analysts' expectations and achieving a net margin of 9.21%.
• Acushnet declared a dividend of $0.235 per share, reflecting an annualized yield of 1.14%, with a payout ratio of 26.11%.

Acushnet (NYSE:GOLF - Get Free Report) has been assigned an average rating of "Hold" from the six ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $72.50.

GOLF has been the subject of a number of recent analyst reports. Truist Financial boosted their target price on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. KeyCorp reissued an "overweight" rating and issued a $80.00 price objective (up previously from $75.00) on shares of Acushnet in a research note on Friday, June 27th. Morgan Stanley lifted their price target on Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Finally, Compass Point lowered Acushnet from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $80.00 to $71.00 in a research report on Monday, May 5th.

Acushnet Trading Down 0.8%

Acushnet stock traded down $0.65 during midday trading on Monday, reaching $79.80. The stock had a trading volume of 136,547 shares, compared to its average volume of 480,049. The company has a quick ratio of 1.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.19. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 22.19 and a beta of 0.84. Acushnet has a 52-week low of $55.31 and a 52-week high of $84.40. The company has a fifty day moving average of $74.49 and a 200 day moving average of $69.11.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, topping 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 the consensus estimate of $697.82 million. During the same period in the prior year, the business posted $1.35 earnings per share. The company's revenue for the quarter was down .6% on a year-over-year basis. On average, analysts anticipate that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Friday, June 6th. Acushnet's dividend payout ratio (DPR) is 26.11%.

Insider Buying and Selling

In other Acushnet news, Director Holdings Corp. Misto sold 953,406 shares of the company's stock in a transaction dated 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 transaction, the director owned 29,523,653 shares in the company, valued at approximately $1,935,570,690.68. This represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 53.60% of the company's stock.

Institutional Investors Weigh In On Acushnet

Institutional investors have recently bought and sold shares of the company. Klingman & Associates LLC purchased a new position in shares of Acushnet during the 2nd quarter worth $228,000. Sovereign Financial Group Inc. acquired a new position in Acushnet in the 2nd quarter valued at about $202,000. Callan Family Office LLC grew its stake in shares of Acushnet by 1,313.0% in the 2nd quarter. Callan Family Office LLC now owns 92,267 shares of the company's stock valued at $6,719,000 after buying an additional 85,737 shares during the period. Boyar Asset Management Inc. increased its holdings in shares of Acushnet by 3.4% during the 2nd quarter. Boyar Asset Management Inc. now owns 16,088 shares of the company's stock worth $1,172,000 after buying an additional 524 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Acushnet by 3.9% in the second quarter. State of Alaska Department of Revenue now owns 15,746 shares of the company's stock valued at $1,146,000 after acquiring an additional 585 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

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.