Shares of Acushnet Holdings Corp. (NYSE:GOLF – Get Rating) have been given a consensus recommendation of “Hold” by the eight analysts that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $50.14.
A number of equity analysts recently weighed in on the company. Morgan Stanley decreased their price target on Acushnet from $52.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, November 7th. Roth Capital lowered Acushnet from a “buy” rating to a “neutral” rating and decreased their price target for the company from $62.00 to $45.00 in a research report on Tuesday, October 18th. StockNews.com lowered Acushnet from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. Tigress Financial started coverage on Acushnet in a research report on Friday, September 16th. They set a “neutral” rating and a $50.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their price objective on Acushnet from $50.00 to $47.00 in a research report on Wednesday, October 26th.
Acushnet Trading Up 2.6 %
Shares of GOLF stock opened at $43.61 on Thursday. The stock has a 50-day simple moving average of $45.35 and a 200-day simple moving average of $45.94. Acushnet has a fifty-two week low of $37.46 and a fifty-two week high of $53.94. The stock has a market capitalization of $3.06 billion, a P/E ratio of 18.40 and a beta of 0.74. The company has a quick ratio of 1.10, a current ratio of 2.17 and a debt-to-equity ratio of 0.39.
Acushnet (NYSE:GOLF – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.13. Acushnet had a return on equity of 16.12% and a net margin of 7.80%. The business had revenue of $558.20 million during the quarter, compared to analyst estimates of $517.42 million. During the same quarter last year, the company posted $0.52 EPS. Acushnet’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts expect that Acushnet will post 2.69 earnings per share for the current fiscal year.
Acushnet Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, December 2nd were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Thursday, December 1st. Acushnet’s dividend payout ratio (DPR) is currently 30.38%.
Insider Transactions at Acushnet
In other news, insider Steven Francis Pelisek sold 700 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $44.00, for a total transaction of $30,800.00. Following the completion of the sale, the insider now directly owns 132,408 shares of the company’s stock, valued at approximately $5,825,952. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 53.00% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in GOLF. Teacher Retirement System of Texas grew its holdings in shares of Acushnet by 4.7% during the 1st quarter. Teacher Retirement System of Texas now owns 7,577 shares of the company’s stock worth $305,000 after purchasing an additional 341 shares in the last quarter. Swiss National Bank boosted its stake in Acushnet by 6.9% in the 1st quarter. Swiss National Bank now owns 87,000 shares of the company’s stock valued at $3,503,000 after buying an additional 5,600 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Acushnet in the 1st quarter valued at $409,000. JPMorgan Chase & Co. boosted its stake in Acushnet by 4.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,174,823 shares of the company’s stock valued at $87,559,000 after buying an additional 84,806 shares in the last quarter. Finally, NN Investment Partners Holdings NV boosted its stake in Acushnet by 5,833.3% in the 1st quarter. NN Investment Partners Holdings NV now owns 17,800 shares of the company’s stock valued at $717,000 after buying an additional 17,500 shares in the last quarter. 49.33% of the stock is owned by institutional investors.
Acushnet Company Profile
(Get Rating)
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.
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