Brokerages Set Acushnet (NYSE:GOLF) Target Price at $89.57

Acushnet (NYSE:GOLF) has earned an average recommendation of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $89.5714.

A number of equities research analysts have weighed in on GOLF shares. Zacks Research cut shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Truist Financial raised their price objective on shares of Acushnet from $74.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, February 9th. Morgan Stanley raised their price objective on shares of Acushnet from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, January 22nd. Weiss Ratings lowered shares of Acushnet from a “buy (b)” rating to a “hold (c+)” rating in a research note on Thursday, March 5th. Finally, KeyCorp reissued a “sector weight” rating on shares of Acushnet in a research note on Friday, January 16th.

Insider Buying and Selling

In other Acushnet news, Director Gregory A. Hewett sold 4,206 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $100.00, for a total transaction of $420,600.00. Following the completion of the transaction, the director owned 37,017 shares in the company, valued at $3,701,700. The trade was a 10.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 53.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its holdings in Acushnet by 1.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,300 shares of the company’s stock worth $503,000 after acquiring an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Acushnet by 3.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,213 shares of the company’s stock worth $336,000 after acquiring an additional 133 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Acushnet by 2.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,779 shares of the company’s stock worth $461,000 after acquiring an additional 135 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Acushnet by 2.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,046 shares of the company’s stock worth $553,000 after acquiring an additional 140 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Acushnet by 8.4% during the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock worth $149,000 after acquiring an additional 144 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Stock Performance

GOLF opened at $95.01 on Friday. The company has a quick ratio of 0.97, a current ratio of 2.38 and a debt-to-equity ratio of 1.18. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 30.65 and a beta of 0.92. Acushnet has a 52-week low of $55.31 and a 52-week high of $104.81. The firm’s fifty day simple moving average is $96.94 and its two-hundred day simple moving average is $87.45.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, February 26th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.31). The business had revenue of $477.22 million during the quarter, compared to analyst estimates of $453.59 million. Acushnet had a net margin of 7.37% and a return on equity of 25.49%. Acushnet’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) earnings per share. Equities analysts anticipate that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were paid a $0.255 dividend. The ex-dividend date of this dividend was Friday, March 6th. This is a positive change from Acushnet’s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a dividend yield of 1.1%. Acushnet’s payout ratio is 32.90%.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.