Acushnet (NYSE:GOLF) Receives $78.17 Consensus PT from Analysts

by · The Cerbat Gem

Shares of Acushnet (NYSE:GOLFGet Free Report) have received a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $78.1667.

Several research firms have weighed in on GOLF. Truist Financial boosted their price target on Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Acushnet in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Acushnet from $67.00 to $74.00 and gave the stock an “underweight” rating in a report on Monday, December 15th. KeyCorp raised their price target on shares of Acushnet from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Roth Capital reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of Acushnet in a report on Thursday, November 6th.

Get Our Latest Stock Report on GOLF

Acushnet Trading Down 0.3%

Shares of Acushnet stock opened at $82.78 on Thursday. The firm’s 50 day simple moving average is $81.55 and its two-hundred day simple moving average is $78.77. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 22.62 and a beta of 0.89. Acushnet has a 12-month low of $55.31 and a 12-month high of $86.19. The company has a current ratio of 2.42, a quick ratio of 1.30 and a debt-to-equity ratio of 1.03.

Acushnet (NYSE:GOLFGet Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The company had revenue of $657.66 million for the quarter, compared to analysts’ expectations of $632.76 million. During the same period last year, the firm earned $0.89 earnings per share. Acushnet’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts predict that Acushnet will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, December 5th. Acushnet’s dividend payout ratio (DPR) is currently 25.68%.

Insider Transactions at Acushnet

In other news, CEO David Eugene Maher sold 26,939 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $79.33, for a total value of $2,137,070.87. Following the completion of the transaction, the chief executive officer owned 852,092 shares of the company’s stock, valued at $67,596,458.36. The trade was a 3.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven Francis Pelisek sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $84.66, for a total value of $1,693,200.00. Following the sale, the insider directly owned 76,006 shares in the company, valued at approximately $6,434,667.96. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 71,460 shares of company stock valued at $5,786,311 in the last quarter. Company insiders own 53.60% of the company’s stock.

Hedge Funds Weigh In On Acushnet

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its position in Acushnet by 26.6% during the first quarter. Russell Investments Group Ltd. now owns 4,271 shares of the company’s stock valued at $293,000 after buying an additional 898 shares during the period. American Century Companies Inc. grew its position in shares of Acushnet by 9.9% during the 1st quarter. American Century Companies Inc. now owns 20,742 shares of the company’s stock valued at $1,424,000 after acquiring an additional 1,860 shares during the period. Northern Trust Corp grew its position in shares of Acushnet by 3.3% during the 1st quarter. Northern Trust Corp now owns 365,969 shares of the company’s stock valued at $25,127,000 after acquiring an additional 11,800 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Acushnet by 487.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock valued at $80,000 after purchasing an additional 990 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in Acushnet in the 1st quarter worth about $973,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Company Profile

(Get Free Report)

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.

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