Acushnet Holdings Corp. (NYSE:GOLF) Receives $66.17 Average Price Target from Analysts

Shares of Acushnet Holdings Corp. (NYSE:GOLF) have been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $66.17.

Several equities analysts have recently weighed in on GOLF shares. Truist Financial increased their price objective on shares of Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Acushnet from $62.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Finally, Compass Point decreased their target price on Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th.

Acushnet Trading Down 0.4 %

Shares of NYSE:GOLF opened at $65.85 on Tuesday. Acushnet has a 52-week low of $49.42 and a 52-week high of $74.77. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 2.28. The company has a market capitalization of $4.07 billion, a P/E ratio of 22.86 and a beta of 0.85. The company has a 50-day simple moving average of $66.88 and a 200 day simple moving average of $64.81.

Acushnet (NYSE:GOLF) last issued its earnings results on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.09). The business had revenue of $683.90 million for the quarter, compared to the consensus estimate of $709.83 million. Acushnet had a return on equity of 21.17% and a net margin of 7.91%. The business’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Sell-side analysts forecast that Acushnet will post 3.02 earnings per share for the current year.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a $0.215 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.31%. Acushnet’s payout ratio is 29.86%.

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

Hedge funds have recently bought and sold shares of the company. Azzad Asset Management Inc. ADV increased its stake in Acushnet by 1.9% in the first quarter. Azzad Asset Management Inc. ADV now owns 9,305 shares of the company’s stock valued at $614,000 after acquiring an additional 173 shares during the last quarter. Wedbush Securities Inc. raised its holdings in shares of Acushnet by 5.2% during the 2nd quarter. Wedbush Securities Inc. now owns 3,535 shares of the company’s stock worth $224,000 after buying an additional 176 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in shares of Acushnet by 0.9% during the 2nd quarter. SkyView Investment Advisors LLC now owns 20,396 shares of the company’s stock worth $1,295,000 after buying an additional 187 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Acushnet by 8.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,478 shares of the company’s stock valued at $221,000 after buying an additional 260 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in Acushnet by 7.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,898 shares of the company’s stock valued at $257,000 after acquiring an additional 269 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

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.