$340.46 Million in Sales Expected for Acushnet Holdings Corp (GOLF) This Quarter

Equities analysts predict that Acushnet Holdings Corp (NYSE:GOLF) will report $340.46 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Acushnet’s earnings. The highest sales estimate is $344.70 million and the lowest is $337.60 million. Acushnet reported sales of $351.39 million during the same quarter last year, which would suggest a negative year over year growth rate of 3.1%. The business is expected to announce its next quarterly earnings results before the market opens on Thursday, February 28th.

On average, analysts expect that Acushnet will report full year sales of $1.63 billion for the current year, with estimates ranging from $1.63 billion to $1.64 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.67 billion, with estimates ranging from $1.66 billion to $1.70 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Acushnet.

Several research analysts have weighed in on the company. ValuEngine cut Acushnet from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. JPMorgan Chase & Co. assumed coverage on Acushnet in a research report on Thursday, December 20th. They set a “hold” rating and a $24.00 price objective on the stock. Zacks Investment Research upgraded Acushnet from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Saturday, January 19th. Stephens assumed coverage on Acushnet in a research report on Tuesday, January 8th. They set an “equal weight” rating on the stock. Finally, Compass Point upgraded Acushnet from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 2nd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $25.38.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Acushnet by 7.0% in the fourth quarter. BlackRock Inc. now owns 2,435,512 shares of the company’s stock worth $51,317,000 after purchasing an additional 158,872 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Acushnet by 36.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,221,960 shares of the company’s stock worth $25,747,000 after purchasing an additional 323,961 shares during the period. Northern Trust Corp increased its position in shares of Acushnet by 3.3% in the fourth quarter. Northern Trust Corp now owns 564,379 shares of the company’s stock worth $11,890,000 after purchasing an additional 18,064 shares during the period. Geode Capital Management LLC increased its position in shares of Acushnet by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 373,304 shares of the company’s stock worth $7,864,000 after purchasing an additional 30,524 shares during the period. Finally, Eagle Asset Management Inc. increased its position in shares of Acushnet by 20.3% in the fourth quarter. Eagle Asset Management Inc. now owns 354,672 shares of the company’s stock worth $7,472,000 after purchasing an additional 59,900 shares during the period. Institutional investors own 50.94% of the company’s stock.

GOLF traded up $0.17 during trading hours on Friday, reaching $23.64. The company’s stock had a trading volume of 207,824 shares, compared to its average volume of 157,938. Acushnet has a 52 week low of $20.24 and a 52 week high of $27.87. The company has a current ratio of 2.17, a quick ratio of 1.18 and a debt-to-equity ratio of 0.39. The stock has a market cap of $1.76 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 2.14 and a beta of 0.85.

About Acushnet

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products worldwide. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear. The Titleist Golf Balls segment designs, manufactures, and sells golf balls under the Titleist brands, such as Tour Soft, Velocity, and DT TruSoft, as well as under the Pinnacle brand.

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