Acushnet (GOLF) – What Are Brokerages Saying About This Stock?

Shares of Acushnet (NYSE:GOLF) have been given a consensus rating of “Hold” by the nine brokerages that are covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $96.57.

Several brokerages have commented on GOLF. JPMorgan Chase & Co. raised 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. Wall Street Zen upgraded Acushnet from a “hold” rating to a “buy” rating in a research note on Saturday. Stephens lowered their price objective on Acushnet from $88.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 14th. Roth Capital restated a “neutral” rating and set a $95.00 target price on shares of Acushnet in a research note on Friday, August 7th. Finally, Weiss Ratings lowered shares of Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, September 28th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Acushnet in the 2nd quarter valued at $496,463,000. Neumeier Poma Investment Counsel LLC acquired a new position in Acushnet in the 2nd quarter valued at $45,290,194. Bank of New York Mellon Corp acquired a new position in Acushnet in the 2nd quarter valued at $31,800,000. Bank of America Corp DE purchased a new position in Acushnet during the 2nd quarter worth $19,732,000. Finally, Callan Family Office LLC purchased a new position in Acushnet during the 2nd quarter worth $10,271,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Price Performance

Acushnet stock opened at $80.93 on Wednesday. The company has a current ratio of 2.55, a quick ratio of 1.48 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $84.42 and a 200 day moving average price of $94.19. Acushnet has a 12-month low of $75.16 and a 12-month high of $119.65. The stock has a market cap of $4.73 billion, a P/E ratio of 22.05 and a beta of 0.79.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, August 6th. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.45. The company had revenue of $819.95 million during the quarter, compared to analysts’ expectations of $788.24 million. Acushnet had a return on equity of 27.98% and a net margin of 8.12%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. Sell-side analysts anticipate that Acushnet will post 4.02 earnings per share for the current year.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a dividend of $0.2550 per share. This represents a $1.02 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, September 4th. Acushnet’s dividend payout ratio (DPR) is currently 27.79%.

Acushnet Company Profile

Acushnet Holdings Corp. is a golf equipment and performance-wear company headquartered in Fairhaven, Massachusetts. Through a portfolio of recognized brands, the company develops, manufactures and markets products used by golfers and golf facilities worldwide.

Its principal brands include Titleist, which offers golf balls, clubs, golf bags, gloves and accessories; FootJoy, which specializes in golf footwear, apparel and gloves; Scotty Cameron, known for premium putters and related accessories; and KJUS, which produces high-performance golf and outdoor apparel.