Analysts Set Acushnet Holdings Corp. (NYSE:GOLF) PT at $66.38

Acushnet Holdings Corp. (NYSE:GOLF) has earned an average rating of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $66.38.

A number of research firms recently commented on GOLF. Truist Financial boosted their target price on Acushnet from $62.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. boosted their price objective on Acushnet from $62.00 to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GOLF. Norges Bank bought a new position in shares of Acushnet during the fourth quarter valued at approximately $21,945,000. International Assets Investment Management LLC bought a new position in Acushnet in the fourth quarter worth approximately $9,318,000. Edgestream Partners L.P. bought a new position in Acushnet in the first quarter worth approximately $8,754,000. Eagle Asset Management Inc. bought a new position in Acushnet in the fourth quarter worth approximately $7,673,000. Finally, Ameriprise Financial Inc. grew its stake in Acushnet by 8.0% in the third quarter. Ameriprise Financial Inc. now owns 965,654 shares of the company’s stock worth $51,221,000 after purchasing an additional 71,263 shares in the last quarter. Institutional investors own 53.12% of the company’s stock.

Acushnet Price Performance

NYSE:GOLF opened at $61.42 on Thursday. The company has a current ratio of 2.69, a quick ratio of 1.46 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $3.87 billion, a P/E ratio of 21.33 and a beta of 0.85. Acushnet has a 12 month low of $49.42 and a 12 month high of $70.10. The business’s 50-day moving average is $63.96 and its 200 day moving average is $64.16.

Acushnet (NYSE:GOLF) last posted its earnings results on Tuesday, May 7th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.19. The company had revenue of $707.55 million for the quarter, compared to the consensus estimate 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 forecast that Acushnet will post 3.12 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

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

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.