Acushnet (NYSE:GOLF) Stock Now Rated "Hold" by Sell-Side Brokerages

Key Points

• Analyst consensus is “Hold”: Eight of nine analysts rate Acushnet neutral, while one recommends buying; the average 12-month price target is $97.57 versus a recent share price of $83.11.
• Quarterly results exceeded expectations: Acushnet reported EPS of $2.08 versus the $1.63 consensus estimate, while revenue rose 13.8% year over year to $819.95 million.
• Institutional ownership remains significant: Institutional investors own 53.12% of the company, with major firms including BlackRock and Capital Research increasing or initiating positions.

Acushnet (NYSE:GOLF - Get Free Report) has been given an average rating of "Hold" by the nine analysts that are covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $97.57.

Several equities analysts recently commented on GOLF shares. Wall Street Zen cut shares of Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, September 19th. Stephens started coverage on shares of Acushnet in a report on Tuesday, September 15th. They issued an "equal weight" rating and a $88.00 price target for the company. JPMorgan Chase & Co. boosted their price target on shares of Acushnet from $96.00 to $118.00 and gave the company a "neutral" rating in a research report on Friday, June 26th. Weiss Ratings raised shares of Acushnet from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Finally, Roth Capital reiterated a "neutral" rating and issued a $95.00 price objective on shares of Acushnet in a research report on Friday, August 7th.

Institutional Trading of Acushnet

Large investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Acushnet in the 2nd quarter valued at about $496,463,000. Capital Research Global Investors raised its holdings in Acushnet by 8.5% in the 4th quarter. Capital Research Global Investors now owns 1,465,000 shares of the company's stock worth $116,936,000 after purchasing an additional 115,000 shares in the last quarter. Neumeier Poma Investment Counsel LLC lifted its position in shares of Acushnet by 51.7% in the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 384,424 shares of the company's stock worth $30,685,000 after purchasing an additional 130,990 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Acushnet during the 2nd quarter valued at about $31,800,000. Finally, Kennedy Capital Management LLC boosted its position in Acushnet by 11.5% during the 4th quarter. Kennedy Capital Management LLC now owns 217,803 shares of the company's stock valued at $17,385,000 after acquiring an additional 22,424 shares in the last quarter. Institutional investors own 53.12% of the company's stock.

Acushnet Price Performance

Shares of NYSE GOLF opened at $83.11 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.48 and a current ratio of 2.55. Acushnet has a fifty-two week low of $75.02 and a fifty-two week high of $119.65. The stock has a market cap of $4.85 billion, a PE ratio of 22.64 and a beta of 0.80. The stock has a fifty day moving average of $91.32 and a 200-day moving average of $95.60.

Acushnet (NYSE:GOLF - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $2.08 EPS 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 business had revenue of $819.95 million during the quarter, compared to the consensus estimate of $788.24 million. During the same quarter last year, the company earned $1.25 EPS. The firm's revenue was up 13.8% compared to the same quarter last year. Equities research analysts anticipate that Acushnet will post 4.02 earnings per share for the current year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were issued a $0.2550 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.02 annualized dividend and a dividend yield of 1.2%. Acushnet's dividend payout ratio (DPR) is presently 27.79%.

Acushnet Company Profile

Acushnet Holdings Corp. develops, manufactures and distributes golf equipment, apparel and accessories. The company's portfolio includes golf balls, clubs, wedges, putters, golf gloves, footwear, clothing, bags and other products serving recreational and professional golfers.

Acushnet's principal brands include Titleist, known for golf balls and equipment; FootJoy, which offers golf footwear, gloves and apparel; and Scotty Cameron, which designs premium putters. The company also markets products under brands including Vokey Design, KJUS and Linksoul.

Founded in 1910, Acushnet is headquartered in Fairhaven, Massachusetts, and serves customers through a global network of retailers, golf courses, distributors and direct-to-consumer channels.

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