Acushnet Holdings Corp. (NYSE:GOLF) Receives Consensus Rating of “Hold” from Analysts

Acushnet Holdings Corp. (NYSE:GOLF) has received an average recommendation of “Hold” from the five analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $72.80.

GOLF has been the subject of a number of research analyst reports. StockNews.com raised shares of Acushnet from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. Truist Financial upped their target price on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. KeyCorp reduced their target price on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. Finally, Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $77.00 to $80.00 in a research report on Tuesday.

Institutional Investors Weigh In On Acushnet

A number of institutional investors and hedge funds have recently modified their holdings of GOLF. Raymond James Financial Inc. bought a new stake in shares of Acushnet in the 4th quarter valued at about $62,713,000. Jane Street Group LLC raised its holdings in shares of Acushnet by 702.1% in the 3rd quarter. Jane Street Group LLC now owns 508,705 shares of the company’s stock valued at $32,430,000 after purchasing an additional 445,281 shares during the period. Lord Abbett & CO. LLC bought a new stake in shares of Acushnet in the 4th quarter valued at about $28,641,000. Norges Bank bought a new stake in shares of Acushnet in the 4th quarter valued at about $14,825,000. Finally, Point72 Asset Management L.P. raised its holdings in shares of Acushnet by 258.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 266,200 shares of the company’s stock valued at $16,970,000 after purchasing an additional 192,034 shares during the period. 53.12% of the stock is owned by institutional investors.

Acushnet Price Performance

Shares of GOLF stock opened at $68.71 on Friday. Acushnet has a 12-month low of $58.54 and a 12-month high of $76.65. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 23.37 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The firm has a fifty day moving average of $68.55 and a 200-day moving average of $67.58.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. On average, equities research analysts forecast that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.37%. This is a boost from Acushnet’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 7th. Acushnet’s dividend payout ratio is presently 28.23%.

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.