Acushnet (NYSE:GOLF) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Acushnet (NYSE:GOLF) have been assigned a consensus rating of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $89.5714.

GOLF has been the topic of several research analyst reports. JPMorgan Chase & Co. raised Acushnet from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $74.00 to $96.00 in a research note on Friday, January 23rd. UBS Group set a $100.00 price objective on Acushnet in a research note on Thursday, February 26th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Acushnet in a report on Thursday, February 26th. Weiss Ratings downgraded Acushnet from a “buy (b)” rating to a “hold (c+)” rating in a research report on Thursday. Finally, KeyCorp reissued a “sector weight” rating on shares of Acushnet in a report on Friday, January 16th.

Acushnet Stock Up 0.1%

Shares of NYSE GOLF opened at $95.64 on Tuesday. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 30.85 and a beta of 0.88. Acushnet has a 52 week low of $55.31 and a 52 week high of $104.81. The firm has a 50-day moving average price of $94.90 and a 200 day moving average price of $85.07. The company has a quick ratio of 0.97, a current ratio of 2.38 and a debt-to-equity ratio of 1.18.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, February 26th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.31). Acushnet had a return on equity of 25.49% and a net margin of 7.37%.The company had revenue of $477.22 million for the quarter, compared to analyst estimates of $453.59 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Acushnet’s previous quarterly dividend of $0.24. Acushnet’s dividend payout ratio is currently 32.90%.

Insiders Place Their Bets

In other Acushnet news, Director Gregory A. Hewett sold 4,206 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $100.00, for a total transaction of $420,600.00. Following the completion of the transaction, the director directly owned 37,017 shares in the company, valued at approximately $3,701,700. This trade represents a 10.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 53.60% of the company’s stock.

Institutional Trading of Acushnet

Several institutional investors and hedge funds have recently modified their holdings of GOLF. Brown Brothers Harriman & Co. grew its position in shares of Acushnet by 389.6% in the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock valued at $26,000 after purchasing an additional 261 shares during the last quarter. Kelleher Financial Advisors acquired a new position in shares of Acushnet during the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC raised its position in shares of Acushnet by 149.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after purchasing an additional 295 shares during the last quarter. Allworth Financial LP lifted its stake in Acushnet by 57.3% in the 3rd quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after buying an additional 184 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in Acushnet by 197.5% in the 3rd quarter. Federated Hermes Inc. now owns 598 shares of the company’s stock valued at $47,000 after buying an additional 397 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.