Acushnet Holdings Corp (NYSE:GOLF) has been assigned an average recommendation of “Hold” from the thirteen analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $27.95.
Several research analysts have commented on the stock. Compass Point downgraded shares of Acushnet from a “neutral” rating to a “sell” rating and increased their price objective for the company from $23.00 to $23.50 in a report on Tuesday, October 29th. downgraded shares of Acushnet from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Imperial Capital increased their price target on shares of Acushnet from $24.00 to $27.00 and gave the company an “inline” rating in a report on Friday, November 1st. raised shares of Acushnet from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Tuesday, November 5th. Finally, Wells Fargo & Co increased their price target on shares of Acushnet from $25.00 to $28.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th.
In related news, insider Christopher Aaron Lindner sold 10,436 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $29.68, for a total value of $309,740.48. Following the completion of the transaction, the insider now owns 79,944 shares of the company’s stock, valued at approximately $2,372,737.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 53.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of GOLF. Amundi Pioneer Asset Management Inc. raised its position in Acushnet by 80.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 467,827 shares of the company’s stock worth $10,826,000 after purchasing an additional 208,527 shares during the period. SG Americas Securities LLC raised its position in Acushnet by 294.8% in the 2nd quarter. SG Americas Securities LLC now owns 32,235 shares of the company’s stock worth $846,000 after purchasing an additional 24,070 shares during the period. Aperio Group LLC purchased a new stake in Acushnet in the 2nd quarter worth about $135,000. Envestnet Asset Management Inc. raised its position in Acushnet by 2.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 32,215 shares of the company’s stock worth $846,000 after purchasing an additional 619 shares during the period. Finally, Comerica Bank raised its position in Acushnet by 0.3% in the 2nd quarter. Comerica Bank now owns 176,299 shares of the company’s stock worth $4,705,000 after purchasing an additional 604 shares during the period. 48.66% of the stock is currently owned by institutional investors.
GOLF opened at $32.50 on Wednesday. The firm has a 50-day simple moving average of $30.48 and a two-hundred day simple moving average of $27.26. Acushnet has a 52 week low of $20.24 and a 52 week high of $32.40. The company has a market capitalization of $2.39 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 3.99 and a beta of 0.99. The company has a quick ratio of 1.06, a current ratio of 1.95 and a debt-to-equity ratio of 0.33.
Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. Acushnet had a net margin of 6.92% and a return on equity of 12.07%. The business had revenue of $417.20 million during the quarter, compared to the consensus estimate of $398.32 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The business’s revenue was up 12.6% on a year-over-year basis. As a group, sell-side analysts expect that Acushnet will post 1.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Wednesday, November 27th. Acushnet’s payout ratio is 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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