Acushnet Holdings Corp. (NYSE:GOLF) Receives $68.63 Consensus Target Price from Analysts

Acushnet Holdings Corp. (NYSE:GOLF) has been assigned an average recommendation of “Hold” from the seven analysts that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $66.43.

A number of analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Compass Point cut their target price on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Truist Financial raised their price objective on Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th.

Insider Buying and Selling

In other Acushnet news, Director Holdings Corp. Fila sold 1,110,000 shares of Acushnet stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.19, for a total value of $71,250,900.00. Following the completion of the transaction, the director now directly owns 31,412,966 shares of the company’s stock, valued at approximately $2,016,398,287.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 54.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Acushnet

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Acushnet by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,010,318 shares of the company’s stock valued at $198,530,000 after acquiring an additional 15,088 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Acushnet by 1.3% in the 4th quarter. Wellington Management Group LLP now owns 1,964,870 shares of the company’s stock valued at $124,121,000 after purchasing an additional 25,869 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Acushnet by 871.1% in the 2nd quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock valued at $62,948,000 after purchasing an additional 889,515 shares during the last quarter. Norges Bank acquired a new position in shares of Acushnet during the 4th quarter worth $21,945,000. Finally, Tributary Capital Management LLC lifted its position in shares of Acushnet by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 266,374 shares of the company’s stock worth $16,909,000 after buying an additional 791 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Price Performance

Shares of NYSE GOLF opened at $65.89 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.69 and a quick ratio of 1.46. The business has a 50-day moving average of $66.09 and a 200-day moving average of $64.96. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 22.88 and a beta of 0.85. Acushnet has a fifty-two week low of $49.42 and a fifty-two week high of $74.77.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). Acushnet had a net margin of 8.03% and a return on equity of 20.65%. The company had revenue of $683.90 million during the quarter, compared to the consensus estimate of $709.83 million. During the same quarter in the prior year, the business earned $1.09 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts predict that Acushnet will post 3.12 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.86 annualized dividend and a yield of 1.31%. Acushnet’s payout ratio is currently 29.86%.

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.