Acushnet Holdings Corp. (NYSE:GOLF) Receives $49.71 Average PT from Brokerages

Posted by Defense World Staff on Mar 5th, 2023

Acushnet Holdings Corp. (NYSE:GOLF – Get Rating) has been assigned an average recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating. The average 1 year price target among brokers that have covered the stock in the last year is $49.50.

A number of equities analysts have recently commented on the company. Morgan Stanley lifted their target price on Acushnet from $50.00 to $54.00 and gave the stock an “equal weight” rating in a report on Friday. Stephens lifted their target price on Acushnet from $52.00 to $53.00 and gave the stock an “equal weight” rating in a report on Thursday.

Insider Activity at Acushnet

In other Acushnet news, Director Holdings Corp. Fila sold 2,168,528 shares of the company’s stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $46.11, for a total value of $99,990,826.08. Following the completion of the sale, the director now directly owns 34,935,480 shares in the company, valued at approximately $1,610,874,982.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 53.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Acushnet

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Acushnet by 153.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 710 shares of the company’s stock worth $30,000 after buying an additional 430 shares during the period. Raymond James & Associates increased its position in Acushnet by 146.4% during the 3rd quarter. Raymond James & Associates now owns 546,263 shares of the company’s stock valued at $23,757,000 after buying an additional 324,564 shares in the last quarter. Walleye Capital LLC acquired a new position in Acushnet during the 2nd quarter valued at about $317,000. London Co. of Virginia increased its position in Acushnet by 1.3% during the 2nd quarter. London Co. of Virginia now owns 403,961 shares of the company’s stock valued at $16,837,000 after buying an additional 5,222 shares in the last quarter. Finally, Dark Forest Capital Management LP increased its position in Acushnet by 840.0% during the 2nd quarter. Dark Forest Capital Management LP now owns 705 shares of the company’s stock valued at $29,000 after buying an additional 630 shares in the last quarter. 49.39% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Price Performance

Shares of Acushnet stock opened at $52.19 on Thursday. The company has a current ratio of 1.93, a quick ratio of 1.10 and a debt-to-equity ratio of 0.54. Acushnet has a 12 month low of $37.46 and a 12 month high of $54.11. The stock has a 50 day moving average of $47.26 and a 200 day moving average of $46.68. The firm has a market cap of $3.49 billion, a PE ratio of 19.12 and a beta of 0.77.

Acushnet (NYSE:GOLF – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Acushnet had a return on equity of 19.00% and a net margin of 8.87%. The business had revenue of $447.40 million for the quarter, compared to the consensus estimate of $423.50 million. During the same quarter in the previous year, the company posted ($0.36) EPS. The company’s revenue was up 6.4% compared to the same quarter last year. On average, research analysts expect that Acushnet will post 2.67 EPS for the current fiscal year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be issued a dividend of $0.195 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $0.78 dividend on an annualized basis and a yield of 1.49%. This is a boost from Acushnet’s previous quarterly dividend of $0.18. Acushnet’s payout ratio is presently 26.37%.

Acushnet Company Profile

(Get Rating)

Acushnet Holdings Corp. engages in the design, development, manufacture, and distribution of performance-driven golf products. It operates through the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, FootJoy Golf Wear, and Other. The Titleist Golf Balls segment is involved in the design and manufacture of golf balls.