Acushnet (NYSE:GOLF) Receives $94.17 Average PT from Brokerages

Acushnet (NYSE:GOLF) has been assigned an average rating of “Hold” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $94.1667.

A number of equities analysts have commented on the company. Weiss Ratings downgraded Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. Roth Mkm set a $87.00 target price on Acushnet in a report on Thursday, May 7th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Acushnet in a report on Thursday, February 26th. Truist Financial raised their target price on Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a report on Tuesday, May 19th. Finally, Zacks Research downgraded Acushnet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th.

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 15,000 shares of Acushnet stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the transaction, the insider directly owned 70,512 shares of the company’s stock, valued at approximately $6,434,925.12. The trade was a 17.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory A. Hewett sold 4,206 shares of Acushnet stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $100.00, for a total value of $420,600.00. Following the transaction, the director directly owned 37,017 shares in the company, valued at $3,701,700. The trade was a 10.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund lifted its holdings in Acushnet by 1.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,300 shares of the company’s stock worth $503,000 after buying an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of Acushnet by 3.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,213 shares of the company’s stock worth $336,000 after acquiring an additional 133 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Acushnet by 2.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,779 shares of the company’s stock worth $461,000 after acquiring an additional 135 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Acushnet by 2.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,046 shares of the company’s stock worth $553,000 after acquiring an additional 140 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its position in shares of Acushnet by 1.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 15,021 shares of the company’s stock worth $1,404,000 after acquiring an additional 142 shares in the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Acushnet Price Performance

Shares of NYSE GOLF opened at $88.92 on Friday. The firm has a market cap of $5.21 billion, a P/E ratio of 31.31 and a beta of 0.88. The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36. Acushnet has a 1-year low of $67.14 and a 1-year high of $104.81. The business’s 50 day moving average is $92.77 and its 200-day moving average is $91.00.

Acushnet (NYSE:GOLF) last announced its earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The firm had revenue of $752.98 million for the quarter, compared to the consensus estimate of $722.48 million. During the same quarter last year, the business posted $1.62 EPS. Acushnet’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts predict that Acushnet will post 3.82 earnings per share for the current year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, June 5th. Acushnet’s dividend payout ratio (DPR) is currently 35.92%.

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.