Acushnet Holdings Corp. (NYSE:GOLF) Receives Consensus Rating of "Hold" from Brokerages

Shares of Acushnet Holdings Corp. (NYSE:GOLF - Get Free Report) have been given a consensus rating of "Hold" by the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $72.80.

Several brokerages have weighed in on GOLF. KeyCorp dropped their target price on Acushnet from $80.00 to $77.00 and set an "overweight" rating on the stock in a research report on Friday. JPMorgan Chase & Co. downgraded Acushnet from a "neutral" rating to an "underweight" rating and dropped their price objective for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. Compass Point raised shares of Acushnet from a "neutral" rating to a "buy" rating and set a $80.00 price objective on the stock in a research report on Tuesday. Truist Financial boosted their target price on shares of Acushnet from $65.00 to $68.00 and gave the stock a "hold" rating in a research report on Friday, November 8th. Finally, StockNews.com upgraded shares of Acushnet from a "hold" rating to a "buy" rating in a report on Friday.

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Acushnet by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company's stock worth $107,097,000 after buying an additional 5,661 shares during the last quarter. JPMorgan Chase & Co. grew its position in Acushnet by 5.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company's stock valued at $76,654,000 after acquiring an additional 54,314 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Acushnet by 8.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,072,692 shares of the company's stock worth $68,384,000 after purchasing an additional 81,065 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Acushnet by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company's stock worth $72,783,000 after buying an additional 10,166 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Acushnet during the 4th quarter valued at $62,713,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Stock Up 1.1 %

Shares of NYSE GOLF traded up $0.70 during mid-day trading on Friday, reaching $64.82. The company had a trading volume of 547,463 shares, compared to its average volume of 338,314. 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 company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 22.05 and a beta of 0.86. The stock has a fifty day moving average of $68.82 and a two-hundred day moving average of $67.59. Acushnet has a 12-month low of $58.54 and a 12-month high of $76.65.

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

Acushnet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a $0.235 dividend. This is a positive change from Acushnet's previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 7th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.45%. Acushnet's dividend payout ratio (DPR) is currently 25.83%.

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.