Acushnet Holdings Corp. (NYSE:GOLF) Receives $66.38 Consensus Price Target from Analysts

Acushnet Holdings Corp. (NYSE:GOLF) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $66.38.

Several equities analysts have recently commented on the company. Truist Financial increased their target price on Acushnet from $62.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. increased their target price on Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th.

Insider Activity

In related news, Director Holdings Corp. Fila sold 587,520 shares of Acushnet stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $63.83, for a total transaction of $37,501,401.60. Following the transaction, the director now directly owns 32,522,966 shares of the company’s stock, valued at $2,075,940,919.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 54.60% of the company’s stock.

Hedge Funds Weigh In On Acushnet

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in shares of Acushnet by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 240,447 shares of the company’s stock valued at $15,264,000 after purchasing an additional 4,644 shares during the period. Tributary Capital Management LLC boosted its position in Acushnet by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 266,374 shares of the company’s stock worth $16,909,000 after acquiring an additional 791 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in Acushnet by 8.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,478 shares of the company’s stock worth $221,000 after acquiring an additional 260 shares during the period. Curated Wealth Partners LLC boosted its position in Acushnet by 175.5% during the 2nd quarter. Curated Wealth Partners LLC now owns 7,908 shares of the company’s stock worth $502,000 after acquiring an additional 18,388 shares during the period. Finally, SG Americas Securities LLC boosted its position in Acushnet by 74.3% during the 2nd quarter. SG Americas Securities LLC now owns 8,414 shares of the company’s stock worth $534,000 after acquiring an additional 3,587 shares during the period. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Stock Up 2.9 %

GOLF opened at $71.57 on Monday. The firm has a 50 day moving average price of $64.55 and a 200 day moving average price of $64.38. The company has a market cap of $4.51 billion, a PE ratio of 24.85 and a beta of 0.85. Acushnet has a 1 year low of $49.42 and a 1 year high of $71.70. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.46 and a current ratio of 2.69.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Tuesday, May 7th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.19. The firm had revenue of $707.55 million during the quarter, compared to analysts’ expectations of $692.41 million. Acushnet had a return on equity of 20.65% and a net margin of 8.03%. Sell-side analysts expect that Acushnet will post 3.12 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Friday, June 7th. Acushnet’s dividend payout ratio is presently 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.