Acushnet Holdings Corp. (NYSE:GOLF) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Acushnet Holdings Corp. (NYSE:GOLF) have been given an average rating of “Moderate Buy” by the seven ratings firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $66.86.

Separately, Truist Financial raised their target price on shares of Acushnet from $62.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th.

Insider Buying and Selling at Acushnet

In other news, insider John Francis Duke, Jr. sold 17,000 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $64.32, for a total value of $1,093,440.00. Following the transaction, the insider now owns 130,472 shares of the company’s stock, valued at approximately $8,391,959.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Brendan J. Reidy sold 9,000 shares of Acushnet stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $64.49, for a total transaction of $580,410.00. Following the sale, the insider now owns 58,588 shares of the company’s stock, valued at approximately $3,778,340.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Francis Duke, Jr. sold 17,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $64.32, for a total value of $1,093,440.00. Following the sale, the insider now owns 130,472 shares of the company’s stock, valued at $8,391,959.04. The disclosure for this sale can be found here. 54.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. acquired a new position in Acushnet during the 4th quarter worth $32,000. Gladius Capital Management LP bought a new position in shares of Acushnet during the fourth quarter worth about $37,000. Principal Securities Inc. acquired a new position in Acushnet in the fourth quarter worth about $37,000. First Horizon Advisors Inc. increased its holdings in Acushnet by 43.3% in the third quarter. First Horizon Advisors Inc. now owns 711 shares of the company’s stock valued at $38,000 after buying an additional 215 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Acushnet by 101.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock valued at $76,000 after buying an additional 585 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Acushnet Price Performance

GOLF stock opened at $63.97 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.84 and a current ratio of 2.69. The stock’s 50 day moving average price is $63.33 and its 200 day moving average price is $62.05. The firm has a market cap of $4.03 billion, a P/E ratio of 22.21 and a beta of 0.88. Acushnet has a 1 year low of $43.62 and a 1 year high of $70.10.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). Acushnet had a net margin of 8.03% and a return on equity of 20.65%. The company had revenue of $413.00 million for the quarter, compared to analyst estimates of $429.16 million. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, sell-side analysts expect that Acushnet will post 3.11 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be issued a dividend of $0.215 per share. The ex-dividend date is Friday, June 7th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.34%. Acushnet’s payout ratio is 29.86%.

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.