Acushnet Holdings Corp. (NYSE:GOLF) Receives $70.00 Average Target Price from Brokerages

Acushnet Holdings Corp. (NYSE:GOLF) has received an average recommendation of “Hold” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $70.00.

A number of equities analysts have weighed in on GOLF shares. KeyCorp upped their price target on Acushnet from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Truist Financial upped their target price on shares of Acushnet from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Thursday, May 8th. Compass Point lowered shares of Acushnet from a “buy” rating to a “neutral” rating and lowered their price target for the company from $80.00 to $71.00 in a report on Monday, May 5th. Finally, Wall Street Zen lowered shares of Acushnet from a “buy” rating to a “hold” rating in a report on Saturday, March 8th.

Acushnet Stock Down 3.0%

Shares of NYSE GOLF opened at $69.86 on Friday. The stock has a fifty day moving average price of $66.68 and a 200 day moving average price of $68.08. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. Acushnet has a 12-month low of $55.31 and a 12-month high of $76.65. The company has a market cap of $4.11 billion, a P/E ratio of 23.76 and a beta of 0.84.

Acushnet (NYSE:GOLF) last issued its earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.30. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $703.37 million during the quarter, compared to the consensus estimate of $697.82 million. During the same quarter in the prior year, the business earned $1.35 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. Research analysts anticipate that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, June 6th. Acushnet’s payout ratio is 26.11%.

Institutional Trading of Acushnet

Hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers raised its holdings in Acushnet by 89.6% in the first quarter. Rhumbline Advisers now owns 78,007 shares of the company’s stock valued at $5,356,000 after acquiring an additional 36,865 shares in the last quarter. Jane Street Group LLC increased its position in shares of Acushnet by 61.2% in the 1st quarter. Jane Street Group LLC now owns 20,617 shares of the company’s stock worth $1,416,000 after purchasing an additional 7,831 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Acushnet by 1.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 91,537 shares of the company’s stock valued at $6,285,000 after purchasing an additional 923 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Acushnet during the first quarter worth about $1,133,000. Finally, Aristeia Capital L.L.C. bought a new position in shares of Acushnet during the first quarter worth about $352,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

About Acushnet

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.