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. It offers golf balls under the Titleist brand; golf clubs, such as drivers, fairways, hybrids, and irons under the Titleist brand name; wedges under the Vokey Design brand; and putters under the Scotty Cameron brand. The company also provides golf bags, headwear, golf gloves, travel products, head covers, and other golf accessories, as well as offers customization and personalization of products in Titleist golf gear. In addition, it offers golf shoes, gloves, golf outerwear, and men's and women's golf apparels under the FootJoy brand; and ski, golf, and lifestyle apparels under the KJUS brand name. It sells its products through on-course golf shops and golf specialty retailers, as well as through representatives, other retailers, and online. The company was formerly known as Alexandria Holdings Corp. and changed its name to Acushnet Holdings Corp. in March 2016. Acushnet Holdings Corp. was founded in 1910 and is headquartered in Fairhaven, Massachusetts.
Analysts Set New Price Targets
A number of equities research analysts have commented on GOLF shares. StockNews.com downgraded shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Tuesday, June 21st. Truist Financial lifted their price objective on Acushnet from $44.00 to $50.00 and gave the stock a "hold" rating in a report on Friday, August 5th. Finally, Morgan Stanley lowered their target price on Acushnet from $56.00 to $48.00 and set an "equal weight" rating on the stock in a report on Monday, April 25th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $53.80.
Acushnet Trading Up 2.3 %
Shares of GOLF Stock opened at $51.35 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.95 and a quick ratio of 1.13. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 23.66 and a beta of 0.77. Acushnet has a 1 year low of $37.46 and a 1 year high of $57.87. The firm has a fifty day moving average price of $44.54 and a 200-day moving average price of $43.18.
Acushnet (NYSE:GOLF - Get Rating) last released its earnings results on Thursday, August 4th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.19. The company had revenue of $658.60 million for the quarter, compared to the consensus estimate of $581.89 million. Acushnet had a return on equity of 14.53% and a net margin of 7.36%. Acushnet's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.08 earnings per share. As a group, equities analysts predict that Acushnet will post 2.78 earnings per share for the current year.
Acushnet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Thursday, September 1st. Acushnet's dividend payout ratio is 33.18%.