Key Points
- Insider selling: Acushnet insider Steven Francis Pelisek sold 15,000 shares at an average price of $91.26, totaling $1.37 million. After the sale, he still owned 70,512 shares, reducing his stake by 17.54%.
- Recent earnings and outlook: Acushnet reported quarterly EPS of $1.36, slightly below expectations, while revenue came in at $752.98 million, above estimates and up 7.1% year over year. Analysts currently expect full-year EPS of 3.82.
- Dividend and analyst view: The company declared a quarterly dividend of $0.255 per share, or $1.02 annually, for a yield of about 1.1%. Wall Street’s consensus rating is Hold, with an average price target of $94.17.
Acushnet (NYSE:GOLF - Get Free Report) insider Steven Francis Pelisek sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the completion of the sale, the insider directly owned 70,512 shares in the company, valued at $6,434,925.12. This represents a 17.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Acushnet Price Performance
Shares of Acushnet stock opened at $89.06 on Friday. The stock has a market capitalization of $5.21 billion, a P/E ratio of 31.36 and a beta of 0.88. The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36. Acushnet has a twelve month low of $67.14 and a twelve month high of $104.81. The business's fifty day moving average price is $92.86 and its 200 day moving average price is $91.01.
Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($0.02). The business had revenue of $752.98 million for the quarter, compared to analyst estimates of $722.48 million. Acushnet had a net margin of 6.54% and a return on equity of 22.95%. The company's quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $1.62 earnings per share. As a group, research analysts anticipate that Acushnet will post 3.82 earnings per share for the current year.
Acushnet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, June 5th. Acushnet's payout ratio is presently 35.92%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Millstone Evans Group LLC grew its stake in Acushnet by 170.2% in the first quarter. Millstone Evans Group LLC now owns 281 shares of the company's stock valued at $26,000 after purchasing an additional 177 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Acushnet by 389.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company's stock worth $26,000 after buying an additional 261 shares during the period. Kelleher Financial Advisors acquired a new stake in Acushnet in the 3rd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its holdings in Acushnet by 149.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company's stock valued at $36,000 after buying an additional 295 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in Acushnet by 57.3% in the 3rd quarter. Allworth Financial LP now owns 505 shares of the company's stock valued at $40,000 after purchasing an additional 184 shares during the period. Hedge funds and other institutional investors own 53.12% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. UBS Group set a $100.00 price target on shares of Acushnet in a report on Thursday, February 26th. Roth Mkm set a $87.00 price target on Acushnet in a research report on Thursday, May 7th. Zacks Research cut Acushnet from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Truist Financial lifted their price target on Acushnet from $95.00 to $97.00 and gave the company a "hold" rating in a research report on Tuesday, May 19th. Finally, Weiss Ratings cut shares of Acushnet from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Acushnet currently has an average rating of "Hold" and an average price target of $94.17.
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About Acushnet
(
Get Free Report)
Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company's portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.
At the core of Acushnet's product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.
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