Acushnet Holdings Corp. (NYSE:GOLF) Receives $70.60 Consensus Price Target from Analysts

Acushnet Holdings Corp. (NYSE:GOLF - Get Free Report) has earned an average recommendation of "Hold" from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given 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 $70.60.

Several analysts recently commented on the company. Truist Financial dropped their price objective on Acushnet from $68.00 to $64.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. KeyCorp cut their price objective on Acushnet from $77.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. StockNews.com downgraded shares of Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. JPMorgan Chase & Co. downgraded shares of Acushnet from a "neutral" rating to an "underweight" rating and lowered their price objective for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. Finally, Compass Point upgraded Acushnet from a "neutral" rating to a "buy" rating and increased their target price for the stock from $77.00 to $80.00 in a report on Tuesday, March 4th.

Acushnet Trading Up 0.8 %

Acushnet stock traded up $0.50 during trading hours on Friday, reaching $62.44. 95,747 shares of the company's stock traded hands, compared to its average volume of 369,425. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $76.65. The firm's 50 day moving average is $64.47 and its 200-day moving average is $67.29. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 21.24 and a beta of 0.84.

Acushnet (NYSE:GOLF - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.31. The firm had revenue of $445.17 billion for the quarter, compared to analyst estimates of $454.83 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. On average, analysts predict that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.51%. This is a boost from Acushnet's previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 7th. Acushnet's dividend payout ratio is presently 28.23%.

Insider Buying and Selling

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $70.86, for a total value of $1,417,200.00. Following the transaction, the insider now directly owns 96,006 shares of the company's stock, valued at $6,802,985.16. This represents a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 54.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Acushnet

Several hedge funds have recently added to or reduced their stakes in GOLF. Blue Trust Inc. increased its position in Acushnet by 100.6% during the 4th quarter. Blue Trust Inc. now owns 351 shares of the company's stock worth $25,000 after buying an additional 176 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Acushnet in the 4th quarter valued at about $31,000. GAMMA Investing LLC grew its position in shares of Acushnet by 96.1% during the 1st quarter. GAMMA Investing LLC now owns 651 shares of the company's stock worth $45,000 after purchasing an additional 319 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Acushnet during the fourth quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Acushnet by 39.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock valued at $58,000 after buying an additional 232 shares during the period. 53.12% of the stock is owned by institutional investors and hedge funds.

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.