Brokerages Set Acushnet (NYSE:GOLF) Target Price at $79.83

Acushnet (NYSE:GOLF) has received a consensus rating of “Hold” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $84.3333.

A number of research analysts have weighed in on GOLF shares. Zacks Research upgraded Acushnet from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. Morgan Stanley raised their target price on shares of Acushnet from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday. Roth Mkm restated a “neutral” rating and set a $80.00 target price on shares of Acushnet in a report on Thursday, November 6th. KeyCorp reiterated a “sector weight” rating on shares of Acushnet in a research note on Friday, January 16th. Finally, JPMorgan Chase & Co. raised shares of Acushnet from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $74.00 to $96.00 in a research report on Friday.

Insider Activity at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $84.66, for a total value of $1,693,200.00. Following the sale, the insider owned 76,006 shares in the company, valued at approximately $6,434,667.96. This represents a 20.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Eugene Maher sold 26,939 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $79.33, for a total value of $2,137,070.87. Following the sale, the chief executive officer directly owned 852,092 shares of the company’s stock, valued at $67,596,458.36. This represents a 3.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 71,460 shares of company stock worth $5,786,311 in the last 90 days. Corporate insiders own 53.60% of the company’s stock.

Hedge Funds Weigh In On Acushnet

Several large investors have recently modified their holdings of GOLF. State of Alaska Department of Revenue lifted its stake in shares of Acushnet by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 14,038 shares of the company’s stock worth $1,120,000 after buying an additional 167 shares during the last quarter. Azzad Asset Management Inc. ADV raised its holdings in Acushnet by 2.7% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 14,631 shares of the company’s stock valued at $1,168,000 after acquiring an additional 386 shares during the period. Fort Washington Investment Advisors Inc. OH raised its holdings in Acushnet by 11.9% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 2,930 shares of the company’s stock valued at $234,000 after acquiring an additional 312 shares during the period. Curated Wealth Partners LLC raised its holdings in Acushnet by 28.3% in the 4th quarter. Curated Wealth Partners LLC now owns 10,147 shares of the company’s stock valued at $810,000 after acquiring an additional 2,239 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Acushnet during the fourth quarter worth approximately $216,000. 53.12% of the stock is owned by institutional investors.

Acushnet Trading Up 1.3%

Shares of NYSE:GOLF opened at $94.22 on Monday. The company’s 50-day moving average price is $84.72 and its two-hundred day moving average price is $80.69. Acushnet has a one year low of $55.31 and a one year high of $95.64. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.42 and a quick ratio of 1.30. The stock has a market capitalization of $5.53 billion, a PE ratio of 25.74 and a beta of 0.88.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). The company had revenue of $657.66 million during the quarter, compared to the consensus estimate of $632.76 million. Acushnet had a net margin of 8.80% and a return on equity of 27.50%. Acushnet’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. On average, equities analysts forecast that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a dividend of $0.235 per share. The ex-dividend date was Friday, December 5th. This represents a $0.94 dividend on an annualized basis and a yield of 1.0%. Acushnet’s dividend payout ratio (DPR) is presently 25.68%.

Acushnet Company Profile

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.