Acushnet Holdings Corp (NYSE:GOLF) Given Consensus Rating of “Hold” by Brokerages

Shares of Acushnet Holdings Corp (NYSE:GOLF) have earned a consensus recommendation of “Hold” from the thirteen analysts that are covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $25.55.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Acushnet from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. ValuEngine upgraded shares of Acushnet from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Roth Capital upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $27.00 to $28.00 in a report on Thursday, May 9th. KeyCorp lifted their price objective on shares of Acushnet from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Finally, Compass Point cut shares of Acushnet from a “buy” rating to a “neutral” rating and set a $24.91 price objective for the company. in a report on Friday, March 1st.

A number of hedge funds and other institutional investors have recently bought and sold shares of GOLF. Dimensional Fund Advisors LP grew its holdings in Acushnet by 36.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,221,960 shares of the company’s stock worth $25,747,000 after acquiring an additional 323,961 shares in the last quarter. Norges Bank acquired a new position in Acushnet during the 4th quarter worth approximately $6,301,000. Amundi Pioneer Asset Management Inc. grew its holdings in Acushnet by 80.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 467,827 shares of the company’s stock worth $10,826,000 after acquiring an additional 208,527 shares in the last quarter. BlackRock Inc. grew its holdings in Acushnet by 7.0% during the 4th quarter. BlackRock Inc. now owns 2,435,512 shares of the company’s stock worth $51,317,000 after acquiring an additional 158,872 shares in the last quarter. Finally, Granite Investment Partners LLC grew its holdings in Acushnet by 16.6% during the 1st quarter. Granite Investment Partners LLC now owns 733,461 shares of the company’s stock worth $16,972,000 after acquiring an additional 104,199 shares in the last quarter. Institutional investors own 50.18% of the company’s stock.

Acushnet stock opened at $26.07 on Wednesday. The company has a 50 day moving average of $25.01. The stock has a market cap of $2.04 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 3.53 and a beta of 0.92. Acushnet has a 1 year low of $20.24 and a 1 year high of $27.87. The company has a quick ratio of 1.08, a current ratio of 1.89 and a debt-to-equity ratio of 0.36.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.11). The company had revenue of $433.70 million during the quarter, compared to analysts’ expectations of $445.66 million. Acushnet had a net margin of 5.74% and a return on equity of 10.10%. Acushnet’s revenue was down 1.9% on a year-over-year basis. During the same period last year, the firm posted $0.56 earnings per share. As a group, equities research analysts forecast that Acushnet will post 1.53 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.15%. The ex-dividend date was Thursday, May 30th. Acushnet’s dividend payout ratio (DPR) is presently 42.42%.

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.

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Analyst Recommendations for Acushnet (NYSE:GOLF)

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