Acushnet Holdings Corp. (NYSE:GOLF) Receives $72.80 Average Target Price from Brokerages

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

Several research firms recently weighed in on GOLF. StockNews.com downgraded Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. JPMorgan Chase & Co. downgraded shares of Acushnet from a "neutral" rating to an "underweight" rating and reduced their price objective for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. Compass Point raised shares of Acushnet from a "neutral" rating to a "buy" rating and upped their price target for the stock from $77.00 to $80.00 in a research report on Tuesday, March 4th. Finally, KeyCorp dropped their price target on Acushnet from $80.00 to $77.00 and set an "overweight" rating for the company in a research note on Friday, February 28th.

Insider Buying and Selling at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 96,006 shares in the company, valued at $6,802,985.16. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 54.60% of the stock is currently owned by insiders.

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Institutional Investors Weigh In On Acushnet

A number of institutional investors have recently added to or reduced their stakes in GOLF. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Acushnet in the fourth quarter valued at $233,000. Integrated Advisors Network LLC acquired a new position in Acushnet in the 4th quarter worth approximately $288,000. Public Employees Retirement System of Ohio purchased a new position in Acushnet during the 4th quarter worth approximately $31,000. State of Wyoming raised its stake in Acushnet by 33.5% during the 4th quarter. State of Wyoming now owns 7,119 shares of the company's stock valued at $506,000 after purchasing an additional 1,788 shares during the period. Finally, Thornburg Investment Management Inc. raised its stake in Acushnet by 20.3% during the 4th quarter. Thornburg Investment Management Inc. now owns 153,436 shares of the company's stock valued at $10,906,000 after purchasing an additional 25,920 shares during the period. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Stock Down 1.5 %

Shares of NYSE:GOLF traded down $1.06 during trading hours on Tuesday, reaching $67.37. The stock had a trading volume of 354,594 shares, compared to its average volume of 353,189. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 22.92 and a beta of 0.79. The firm's 50 day moving average is $67.12 and its 200-day moving average is $67.62. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. Acushnet has a 1 year low of $58.54 and a 1 year high of $76.65.

Acushnet (NYSE:GOLF - Get Free Report) last posted 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 business had revenue of $445.17 billion during the quarter, compared to the consensus estimate of $454.83 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. Research analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a dividend of $0.235 per share. This is a positive change from Acushnet's previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 7th. This represents a $0.94 annualized dividend and a yield of 1.40%. Acushnet's dividend payout ratio is 28.23%.

Acushnet Company Profile

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.