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

Acushnet Holdings Corp. (NYSE:GOLF) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have given a buy rating 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.

A number of equities analysts have weighed in on GOLF shares. Truist Financial upped their target price on Acushnet from $62.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. upped their target price on Acushnet from $62.00 to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th.

Acushnet Stock Down 3.2 %

Shares of NYSE GOLF opened at $61.42 on Thursday. Acushnet has a one year low of $49.42 and a one year high of $70.10. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.69 and a quick ratio of 1.46. The business’s fifty day moving average price is $63.96 and its 200-day moving average price is $64.16. The stock has a market capitalization of $3.87 billion, a PE ratio of 21.33 and a beta of 0.85.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.19. The business had revenue of $707.55 million for 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%. On average, equities research analysts anticipate that Acushnet will post 3.12 EPS for the current year.

Acushnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were issued a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 1.40%. The ex-dividend date was Friday, June 7th. Acushnet’s dividend payout ratio (DPR) is currently 29.86%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GOLF. Deutsche Bank AG lifted its stake in shares of Acushnet by 2.3% in the 3rd quarter. Deutsche Bank AG now owns 17,769 shares of the company’s stock valued at $942,000 after purchasing an additional 399 shares during the period. Rhumbline Advisers lifted its stake in shares of Acushnet by 1.9% in the 3rd quarter. Rhumbline Advisers now owns 47,906 shares of the company’s stock valued at $2,541,000 after purchasing an additional 911 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Acushnet by 8.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,746 shares of the company’s stock valued at $570,000 after purchasing an additional 876 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Acushnet by 107.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 95,923 shares of the company’s stock valued at $5,088,000 after purchasing an additional 49,706 shares during the period. Finally, FMR LLC lifted its stake in shares of Acushnet by 1.7% in the 3rd quarter. FMR LLC now owns 356,913 shares of the company’s stock valued at $18,931,000 after purchasing an additional 5,909 shares during the period. Hedge funds and other institutional investors own 53.12% of the company’s stock.

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.