Acushnet (NYSE:GOLF) Receives $71.00 Consensus PT from Brokerages

Acushnet (NYSE:GOLF) has been assigned a consensus rating of “Hold” from the five analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $71.00.

Several equities research analysts have issued reports on the stock. Compass Point downgraded shares of Acushnet from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. KeyCorp reiterated an “overweight” rating and set a $80.00 price objective (up from $75.00) on shares of Acushnet in a research note on Friday, June 27th. Truist Financial boosted their price objective on shares of Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Finally, Wall Street Zen downgraded shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th.

Acushnet Price Performance

Acushnet stock opened at $76.00 on Thursday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.21 and a current ratio of 2.21. Acushnet has a 1 year low of $55.31 and a 1 year high of $76.73. The firm has a 50 day moving average price of $70.37 and a 200 day moving average price of $68.01. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 21.11 and a beta of 0.84.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.30. Acushnet had a net margin of 9.21% and a return on equity of 26.81%. The company had revenue of $703.37 million during the quarter, compared to the consensus estimate of $697.82 million. During the same period in the previous year, the firm earned $1.35 earnings per share. Acushnet’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts predict that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.235 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.94 annualized dividend and a dividend yield of 1.24%. Acushnet’s dividend payout ratio (DPR) is presently 26.11%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GOLF. Public Employees Retirement System of Ohio acquired a new position in Acushnet during the 4th quarter worth $31,000. KBC Group NV acquired a new position in Acushnet during the 1st quarter worth $44,000. GAMMA Investing LLC grew its holdings in Acushnet by 96.1% during the 1st quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock worth $45,000 after acquiring an additional 319 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Acushnet during the 4th quarter worth $51,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in Acushnet by 39.6% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company’s stock worth $58,000 after acquiring an additional 232 shares in the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

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.