Acushnet (GOLF) - What Are Brokerages Thinking About This Stock?

Key Points

• Analysts remain cautious on Acushnet: Nine firms give the stock an average “Hold” rating, with eight holds and one buy. The average 12-month price target is $96.57, above the reported $80.93 share price.
• Recent results exceeded expectations: Acushnet reported quarterly earnings of $2.08 per share versus the $1.63 consensus estimate, while revenue rose 13.8% year over year to $819.95 million.
• Institutional investors own a majority stake: Hedge funds and other institutions hold 53.12% of the company. Acushnet also pays a quarterly dividend of $0.255 per share, equating to a 1.3% yield.

Acushnet (NYSE:GOLF - Get Free Report) has been given an average recommendation of "Hold" by the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $96.57.

GOLF has been the topic of a number of research analyst reports. Roth Capital reaffirmed a "neutral" rating and set a $95.00 price target on shares of Acushnet in a report on Friday, August 7th. JPMorgan Chase & Co. lifted their price objective on Acushnet from $96.00 to $118.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. Weiss Ratings downgraded Acushnet from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, September 28th. Stephens decreased their target price on Acushnet from $88.00 to $81.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 14th. Finally, Wall Street Zen upgraded shares of Acushnet from a "hold" rating to a "buy" rating in a research note on Saturday.

Hedge Funds Weigh In On Acushnet

Several institutional investors and hedge funds have recently bought and sold shares of GOLF. Millstone Evans Group LLC boosted its stake in shares of Acushnet by 170.2% in the first quarter. Millstone Evans Group LLC now owns 281 shares of the company's stock worth $26,000 after acquiring an additional 177 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Acushnet in the 2nd quarter valued at $36,000. Kelleher Financial Advisors acquired a new position in Acushnet in the 2nd quarter valued at $42,000. Public Employees Retirement System of Ohio acquired a new position in Acushnet in the 2nd quarter valued at $52,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Acushnet by 43.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 535 shares of the company's stock valued at $50,000 after purchasing an additional 163 shares in the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Stock Performance

NYSE:GOLF opened at $80.93 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 2.55 and a debt-to-equity ratio of 1.01. The firm's fifty day simple moving average is $84.42 and its 200 day simple moving average is $94.19. The stock has a market cap of $4.73 billion, a P/E ratio of 22.05 and a beta of 0.79. Acushnet has a twelve month low of $75.16 and a twelve month high of $119.65.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.45. Acushnet had a return on equity of 27.98% and a net margin of 8.12%. The company had revenue of $819.95 million for the quarter, compared to analysts' expectations of $788.24 million. During the same period in the prior year, the firm earned $1.25 earnings per share. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. As a group, research analysts predict that Acushnet will post 4.02 EPS for the current year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were given a dividend of $0.2550 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.02 annualized dividend and a dividend yield of 1.3%. Acushnet's dividend payout ratio is presently 27.79%.

Acushnet Company Profile

Acushnet Holdings Corp. is a golf equipment and performance-wear company headquartered in Fairhaven, Massachusetts. Through a portfolio of recognized brands, the company develops, manufactures and markets products used by golfers and golf facilities worldwide.

Its principal brands include Titleist, which offers golf balls, clubs, golf bags, gloves and accessories; FootJoy, which specializes in golf footwear, apparel and gloves; Scotty Cameron, known for premium putters and related accessories; and KJUS, which produces high-performance golf and outdoor apparel.

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