Acushnet Holdings Corp. (NYSE:GOLF) Receives $66.38 Consensus PT from Analysts

Acushnet Holdings Corp. (NYSE:GOLF) has earned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $66.38.

A number of brokerages have commented on GOLF. JPMorgan Chase & Co. boosted their target price on Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Truist Financial upped their price target on Acushnet from $62.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th.

Acushnet Trading Up 2.9 %

NYSE GOLF opened at $71.57 on Monday. The firm’s 50 day moving average price is $64.69 and its two-hundred day moving average price is $64.46. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 24.85 and a beta of 0.85. Acushnet has a twelve month low of $49.42 and a twelve month high of $71.70. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.46 and a current ratio of 2.69.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.19. Acushnet had a return on equity of 20.65% and a net margin of 8.03%. The firm had revenue of $707.55 million during the quarter, compared to the consensus estimate of $692.41 million. Equities analysts anticipate that Acushnet will post 3.12 EPS for the current year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, June 7th. Acushnet’s dividend payout ratio (DPR) is currently 29.86%.

Insider Buying and Selling

In other news, Director Holdings Corp. Fila sold 587,520 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total transaction of $37,501,401.60. Following the completion of the transaction, the director now owns 32,522,966 shares of the company’s stock, valued at $2,075,940,919.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 54.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Acushnet

A number of institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. boosted its position in shares of Acushnet by 18.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 5,075 shares of the company’s stock valued at $321,000 after acquiring an additional 798 shares in the last quarter. Tributary Capital Management LLC lifted its holdings in Acushnet by 6.7% during the 4th quarter. Tributary Capital Management LLC now owns 265,334 shares of the company’s stock valued at $16,761,000 after purchasing an additional 16,610 shares during the last quarter. Trust Point Inc. bought a new stake in Acushnet during the fourth quarter worth about $421,000. International Assets Investment Management LLC acquired a new stake in shares of Acushnet during the fourth quarter worth approximately $9,318,000. Finally, Wakefield Asset Management LLLP acquired a new stake in shares of Acushnet during the fourth quarter worth approximately $893,000. 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.