Acushnet Holdings Corp. (NYSE: GOLF) has been given a consensus rating of “Hold” by the eight brokerage houses covering the company, Marketbeat.com reports. Four analysts have given the share a hold recommendation and three have given the company a buy recommendation. The average 1 year target price among brokers who updated their coverage on the stock over the past year is $ 54.14.
Several research analysts have published reports on the stock. Zacks Investment Research upgraded Acushnet shares from a “hold” rating to a “buy” rating and set a price target of $ 64.00 for the stock in a research report on Monday, November 8th. Morgan Stanley raised its target price on Acushnet shares from $ 50.00 to $ 52.00 and rated the stock as “equilibrium” in a research report on Wednesday July 28th. Stephens raised his target price on Acushnet shares from $ 57.00 to $ 60.00 and rated the company “evenly” in a report dated Friday, November 5th. Roth Capital confirmed in a research release on Monday, November 8th, a “Buy” rating for Acushnet shares. Finally, KeyCorp raised its target price on Acushnet shares from $ 60.00 to $ 63.00 and rated the company as “overweight” in a research release on Monday, November 8th.
In other Acushnet news, insider Christopher Aaron Lindner sold 11,196 shares of the stock in one transaction on Monday, November 8th. The shares were sold at an average price of $ 57.08 for a total transaction of $ 639,067.68. The sale was announced in a legal filing with the SEC, which is available on the SEC website. Company insiders own 54.10% of the company’s shares.
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Several major investors recently bought and sold GOLF shares. NewEdge Wealth LLC increased its position in Acushnet shares by 35.7% in the second quarter. NewEdge Wealth LLC now owns 43,776 shares in the company, valued at $ 2,163,000, after purchasing an additional 11,511 shares last quarter. Squarepoint Ops LLC increased its position in Acushnet by 101.1% in the first quarter. Squarepoint Ops LLC now owns 16,905 shares in the company valued at $ 699,000, after acquiring an additional 8,500 shares last quarter. Caxton Associates LP bought a new position in Acushnet for approximately $ 420,000 in the second quarter. Geode Capital Management LLC increased its position in Acushnet by 5.4% in the second quarter. Geode Capital Management LLC now owns 578,418 shares in the company valued at $ 28,573,000 after purchasing an additional 29,739 shares last quarter. Finally, Ameriprise Financial Inc. increased its position in Acushnet by 3.7% in the first quarter. Ameriprise Financial Inc. now owns 203,531 shares in the company, valued at $ 8,409,000, after purchasing an additional 7,222 shares last quarter. Institutional investors own 48.58% of the company’s shares.
Acushnet stock opened at $ 56.31 on Wednesday. Acushnet has a 52-week low of $ 36.70 and a 52-week high of $ 57.87. The company’s 50-day moving average is $ 50.84 and the 200-day moving average is $ 50.63. The company has a market cap of $ 4.15 billion, a P / E of 18.65, and a beta of 0.80. The company has a quick ratio of 1.63, a current ratio of 2.37, and leverage of 0.26.
Acushnet (NYSE: GOLF) last announced its quarterly earnings data on Thursday, November 4th. The company reported earnings per share of $ 0.52 for the quarter, beating Zacks’ consensus estimate of $ 0.14 by $ 0.38. Acushnet had a net margin of 10.56% and a return on equity of 21.12%. The company had revenue of $ 521.60 million for the quarter, compared to analyst estimates of $ 430.53 million. In the same period last year, the company generated $ 0.84 EPS. The company’s sales increased 8.0% year over year. On average, analysts for stock research assume that Acushnet will achieve earnings per share of 2.41 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 17th. Shareholders of record on Friday, December 3rd, will receive a dividend of $ 0.165. The ex-dividend date is Thursday December 2nd. This equates to an annualized dividend of $ 0.66 and a dividend yield of 1.17%. Acushnet’s dividend payout ratio (DPR) is currently 21.85%.
Acushnet Holdings Corp. deals with the design, development, manufacture and sale of golf products. It operates in the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Equipment, FootJoy Golf Wear and Others. The Titleist Golf Balls segment encompasses the design and manufacture of golf balls.
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