Acushnet (NYSE:GOLF) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Acushnet has received a consensus recommendation of "Hold" from analysts, with one sell, four hold, and one buy rating, and an average 12-month price target of $73.33.
• Insider trading reports indicate significant sales, with Director Holdings Corp. Misto selling over 953,000 shares and a notable decrease in ownership stakes.
• The company's recent earnings report showed $720.48 million in revenue, up 5.4% year-over-year, but earnings per share of $1.25 missed analyst estimates by $0.08.

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 Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $73.3333.

GOLF has been the subject of a number of recent research reports. Compass Point downgraded Acushnet from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $80.00 to $71.00 in a research report on Monday, May 5th. Truist Financial boosted their target price on Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Morgan Stanley boosted their target price on Acushnet from $63.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Finally, KeyCorp boosted their target price on Acushnet from $80.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th.

Insider Transactions at Acushnet

In related news, Director Holdings Corp. Misto sold 953,406 shares of the company's stock in a transaction dated Thursday, July 10th. The stock was 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mary Louise Bohn sold 13,190 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were 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 owned 191,786 shares of the company's stock, valued at $15,122,326.10. This represents a 6.43% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 53.60% of the company's stock.

Institutional Investors Weigh In On Acushnet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming increased its holdings in Acushnet by 82.3% in the second quarter. State of Wyoming now owns 7,292 shares of the company's stock valued at $531,000 after purchasing an additional 3,292 shares during the last quarter. Public Sector Pension Investment Board grew its stake in Acushnet by 3.9% in the second quarter. Public Sector Pension Investment Board now owns 90,174 shares of the company's stock valued at $6,566,000 after acquiring an additional 3,404 shares during the period. Tower Research Capital LLC TRC grew its stake in Acushnet by 389.4% in the second quarter. Tower Research Capital LLC TRC now owns 4,150 shares of the company's stock valued at $302,000 after acquiring an additional 3,302 shares during the period. SkyView Investment Advisors LLC grew its stake in Acushnet by 2.7% in the second quarter. SkyView Investment Advisors LLC now owns 16,956 shares of the company's stock valued at $1,243,000 after acquiring an additional 450 shares during the period. Finally, Corient Private Wealth LLC acquired a new position in Acushnet in the second quarter valued at about $211,000. Institutional investors own 53.12% of the company's stock.

Acushnet Price Performance

Shares of GOLF stock opened at $77.1450 on Friday. The stock's fifty day simple moving average is $77.02 and its 200 day simple moving average is $69.98. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.25 and a quick ratio of 1.21. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 20.63 and a beta of 0.84. Acushnet has a one year low of $55.31 and a one year high of $84.40.

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

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 5th. Acushnet's dividend payout ratio is currently 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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