Acushnet (NYSE:GOLF) Stock Has Average Target Price of $97.67

Key Points

• Analyst sentiment is neutral: All nine analysts covering Acushnet rate it “Hold,” with an average 12-month price target of $97.67.
• Quarterly earnings missed estimates: Acushnet reported EPS of $0.83 versus the $0.98 consensus, while revenue of $649.23 million slightly topped estimates but declined 1.3% year over year.
• The stock traded at $82.79, below its 200-day moving average of $93.79. Acushnet also announced a quarterly dividend of $0.255 per share, or $1.02 annualized.

Acushnet (NYSE:GOLF - Get Free Report) has been given an average rating of "Hold" by the nine analysts that are currently covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a hold rating. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $97.67.

Several analysts have issued reports on the stock. Roth Capital reaffirmed a "neutral" rating and set a $95.00 price target on shares of Acushnet in a research report on Friday, August 7th. Weiss Ratings downgraded shares of Acushnet from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, November 9th. Wall Street Zen lowered shares of Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, November 7th. Finally, Stephens lowered their price objective on shares of Acushnet from $88.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 14th.

Institutional Trading of Acushnet

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Acushnet in the 2nd quarter worth about $496,463,000. Neumeier Poma Investment Counsel LLC bought a new position in Acushnet during the 2nd quarter valued at approximately $45,290,194. Bank of New York Mellon Corp purchased a new position in Acushnet during the second quarter valued at $31,800,000. Bank of America Corp DE purchased a new position in Acushnet during the second quarter valued at $19,732,000. Finally, Edgestream Partners L.P. purchased a new position in Acushnet during the third quarter valued at $9,513,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Acushnet Trading Up 1.6%

GOLF stock traded up $1.33 during midday trading on Friday, hitting $82.79. 204,405 shares of the company's stock were exchanged, compared to its average volume of 306,693. The stock's fifty day moving average price is $82.87 and its 200-day moving average price is $93.79. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 2.02. The company has a market cap of $4.74 billion, a PE ratio of 22.44 and a beta of 0.77. Acushnet has a one year low of $76.96 and a one year high of $119.65.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.15). The company had revenue of $649.23 million during the quarter, compared to the consensus estimate of $647.99 million. Acushnet had a net margin of 8.17% and a return on equity of 27.92%. The company's revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 earnings per share. Research analysts predict that Acushnet will post 3.92 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.2550 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, December 4th. Acushnet's dividend payout ratio (DPR) is currently 27.64%.

Acushnet Company Profile

Acushnet Holdings Corp. develops, manufactures and markets golf equipment, apparel and accessories. Its brands include Titleist, known for golf balls, clubs and related equipment; FootJoy, which offers golf footwear, gloves and apparel; and Scotty Cameron and Vokey Design, which specialize in putters and wedges. The company also sells golf balls under the Pinnacle brand. Acushnet traces its roots to 1910, when it was established as the Acushnet Process Company. Over time, it became focused on golf and built a portfolio of brands serving recreational and professional players.

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