Shares of Acushnet Holdings Corp. (NYSE:GOLF – Get Rating) have been given a consensus rating of "Hold" by the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $53.80.
Several research analysts have issued reports on the stock. StockNews.com downgraded shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Wednesday, August 31st. Truist Financial raised their price objective on shares of Acushnet from $44.00 to $50.00 and gave the stock a "hold" rating in a research report on Friday, August 5th.
Get Acushnet alerts:Acushnet Trading Up 0.0 %
Shares of Acushnet stock opened at $50.34 on Tuesday. Acushnet has a 1 year low of $37.46 and a 1 year high of $57.87. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.95. The company has a market capitalization of $3.58 billion, a P/E ratio of 23.20 and a beta of 0.76. The company's fifty day moving average is $48.46 and its two-hundred day moving average is $44.02.
Acushnet (NYSE:GOLF – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.19. Acushnet had a net margin of 7.36% and a return on equity of 14.53%. The company had revenue of $658.60 million for the quarter, compared to the consensus estimate of $581.89 million. During the same period last year, the firm posted $1.08 EPS. Acushnet's revenue for the quarter was up 5.4% on a year-over-year basis. Analysts forecast that Acushnet will post 2.8 earnings per share for the current year.Acushnet Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Thursday, September 1st. Acushnet's dividend payout ratio (DPR) is presently 33.18%.
Institutional Trading of Acushnet
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc lifted its stake in shares of Acushnet by 0.9% in the second quarter. Legal & General Group Plc now owns 28,263 shares of the company's stock valued at $1,178,000 after purchasing an additional 257 shares during the period. Walleye Capital LLC acquired a new stake in shares of Acushnet in the second quarter valued at about $317,000. Eagle Bay Advisors LLC acquired a new stake in shares of Acushnet in the second quarter valued at about $49,000. First Republic Investment Management Inc. lifted its stake in shares of Acushnet by 14.7% in the second quarter. First Republic Investment Management Inc. now owns 47,786 shares of the company's stock valued at $1,992,000 after purchasing an additional 6,141 shares during the period. Finally, Dark Forest Capital Management LP lifted its stake in shares of Acushnet by 840.0% in the second quarter. Dark Forest Capital Management LP now owns 705 shares of the company's stock valued at $29,000 after purchasing an additional 630 shares during the period. Institutional investors and hedge funds own 49.33% of the company's stock.
About Acushnet
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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.
Further Reading
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