KeyCorp Has Lowered Expectations for Acushnet (NYSE:GOLF) Stock Price

Acushnet (NYSE:GOLF) had its price objective cut by investment analysts at KeyCorp from $77.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price would indicate a potential upside of 19.01% from the stock’s current price.

A number of other brokerages have also recently issued reports on GOLF. Compass Point upgraded Acushnet from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $77.00 to $80.00 in a research note on Tuesday, March 4th. StockNews.com cut shares of Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. JPMorgan Chase & Co. lowered Acushnet from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. Finally, Truist Financial reduced their price target on shares of Acushnet from $68.00 to $64.00 and set a “hold” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $70.60.

Acushnet Stock Down 0.8 %

NYSE GOLF traded down $0.47 on Thursday, reaching $58.82. The company had a trading volume of 26,684 shares, compared to its average volume of 552,125. The company’s fifty day moving average is $65.13 and its 200-day moving average is $67.36. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 20.08 and a beta of 0.84. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. Acushnet has a 1-year low of $55.31 and a 1-year high of $76.65.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $445.17 billion during the quarter, compared to analysts’ expectations of $454.83 million. On average, research analysts forecast that Acushnet will post 3.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the transaction, the insider now owns 96,006 shares in the company, valued at $6,802,985.16. The trade was a 17.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 54.60% of the company’s stock.

Institutional Trading of Acushnet

A number of hedge funds have recently bought and sold shares of GOLF. Barclays PLC boosted its position in Acushnet by 361.5% during the third quarter. Barclays PLC now owns 48,563 shares of the company’s stock worth $3,096,000 after purchasing an additional 38,041 shares during the period. Virtu Financial LLC grew its stake in Acushnet by 152.6% in the 3rd quarter. Virtu Financial LLC now owns 8,163 shares of the company’s stock valued at $520,000 after buying an additional 4,931 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in shares of Acushnet by 1.8% during the third quarter. SkyView Investment Advisors LLC now owns 20,772 shares of the company’s stock worth $1,324,000 after acquiring an additional 376 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Acushnet in the third quarter worth $508,000. Finally, Franklin Resources Inc. grew its position in shares of Acushnet by 2.5% in the third quarter. Franklin Resources Inc. now owns 22,831 shares of the company’s stock valued at $1,455,000 after purchasing an additional 548 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors.

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.