Shares of Acushnet Holdings Corp. (NYSE:GOLF – Get Rating) have earned an average recommendation of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have given a 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 $50.14.
GOLF has been the subject of several research analyst reports. StockNews.com lowered Acushnet from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. Truist Financial decreased their price objective on Acushnet from $50.00 to $48.00 and set a “hold” rating for the company in a research report on Wednesday, October 5th. Morgan Stanley decreased their price objective 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 objective for the company from $62.00 to $45.00 in a research report on Tuesday, October 18th. Finally, JPMorgan Chase & Co. decreased their price objective on Acushnet from $50.00 to $47.00 in a research report on Wednesday, October 26th.
Insider Buying and Selling at Acushnet
In other news, insider Steven Francis Pelisek sold 700 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $44.00, for a total transaction of $30,800.00. Following the sale, the insider now owns 132,408 shares in the company, valued at approximately $5,825,952. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 53.00% of the company’s stock.
Institutional Investors Weigh In On Acushnet
Institutional investors and hedge funds have recently made changes to their positions in the stock. Dark Forest Capital Management LP raised its stake in shares of Acushnet by 840.0% during the 2nd quarter. Dark Forest Capital Management LP now owns 705 shares of the company’s stock worth $29,000 after purchasing an additional 630 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Acushnet by 153.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 710 shares of the company’s stock valued at $30,000 after acquiring an additional 430 shares during the period. Federated Hermes Inc. bought a new stake in Acushnet in the 3rd quarter valued at $30,000. Castle Wealth Management LLC bought a new stake in Acushnet in the 2nd quarter valued at $38,000. Finally, Venture Visionary Partners LLC bought a new stake in Acushnet in the 2nd quarter valued at $45,000. Institutional investors own 49.39% of the company’s stock.
Acushnet Price Performance
Acushnet stock opened at $47.61 on Monday. The firm has a market capitalization of $3.34 billion, a P/E ratio of 20.09 and a beta of 0.76. Acushnet has a 1 year low of $37.46 and a 1 year high of $53.94. The business has a 50-day moving average of $44.94 and a 200-day moving average of $46.28. The company has a current ratio of 2.17, a quick ratio of 1.10 and a debt-to-equity ratio of 0.39.
Acushnet (NYSE:GOLF – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.13. The company had revenue of $558.20 million during the quarter, compared to analyst estimates of $517.42 million. Acushnet had a return on equity of 16.12% and a net margin of 7.80%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 EPS. On average, equities analysts anticipate that Acushnet will post 2.69 EPS for the current year.
Acushnet Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 2nd were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Thursday, December 1st. Acushnet’s payout ratio is 30.38%.
About Acushnet
(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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