Acushnet (NYSE:GOLF) Receives $73.00 Average Target Price from Analysts

Shares of Acushnet (NYSE:GOLF) have received a consensus rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $73.00.

A number of research analysts recently commented on the company. KeyCorp boosted their price target on Acushnet from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Zacks Research lowered shares of Acushnet from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Morgan Stanley boosted their target price on shares of Acushnet from $63.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, July 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Acushnet in a research report on Wednesday, October 8th.

Insider Activity at Acushnet

In related news, insider Mary Louise Bohn sold 13,190 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $78.85, for a total transaction of $1,040,031.50. Following the completion of the sale, the insider directly owned 191,786 shares in the company, valued at $15,122,326.10. This represents a 6.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 53.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GOLF. EverSource Wealth Advisors LLC boosted its stake in shares of Acushnet by 149.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after purchasing an additional 295 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Acushnet by 83.7% during the second quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock worth $39,000 after buying an additional 246 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Acushnet by 78.6% during the second quarter. Bessemer Group Inc. now owns 575 shares of the company’s stock worth $42,000 after buying an additional 253 shares in the last quarter. KBC Group NV bought a new position in shares of Acushnet in the 1st quarter valued at $44,000. Finally, GAMMA Investing LLC lifted its stake in shares of Acushnet by 96.1% in the 1st quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock valued at $45,000 after acquiring an additional 319 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Stock Up 2.6%

NYSE GOLF opened at $79.96 on Friday. The company has a current ratio of 2.25, a quick ratio of 1.21 and a debt-to-equity ratio of 1.13. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 21.38 and a beta of 0.89. The company has a 50 day moving average of $77.33 and a 200-day moving average of $72.80. Acushnet has a 1-year low of $55.31 and a 1-year high of $84.40.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.08). The company had revenue of $720.48 million for the quarter, compared to the consensus estimate of $713.70 million. Acushnet had a return on equity of 28.05% and a net margin of 9.24%.Acushnet’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $1.11 EPS. On average, equities research analysts expect that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, September 5th. Acushnet’s dividend payout ratio (DPR) is currently 25.13%.

Acushnet Company Profile

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.