Acushnet (NYSE:GOLF) Stock Price Expected to Rise, KeyCorp Analyst Says

Acushnet (NYSE:GOLF) had its price objective boosted by stock analysts at KeyCorp from $70.00 to $75.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 10.65% from the company’s previous close.

Several other research analysts also recently commented on the stock. Compass Point downgraded shares of Acushnet from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $80.00 to $71.00 in a report on Monday, May 5th. StockNews.com lowered Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. JPMorgan Chase & Co. downgraded Acushnet from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. Finally, Truist Financial raised their target price on shares of Acushnet from $64.00 to $65.00 and gave the company a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $70.00.

Acushnet Stock Performance

NYSE:GOLF opened at $67.78 on Thursday. The stock has a 50-day moving average price of $64.46 and a 200 day moving average price of $67.49. The stock has a market capitalization of $4.07 billion, a P/E ratio of 23.05 and a beta of 0.90. Acushnet has a 12-month low of $55.31 and a 12-month high of $76.65. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.30. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The business had revenue of $703.37 million during the quarter, compared to analyst estimates of $697.82 million. During the same period last year, the firm posted $1.35 EPS. The company’s revenue was down .6% on a year-over-year basis. Equities research analysts forecast that Acushnet will post 3.06 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Acushnet

Institutional investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC bought a new position in Acushnet during the 1st quarter valued at about $274,000. Charles Schwab Investment Management Inc. grew its stake in shares of Acushnet by 7.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 387,315 shares of the company’s stock valued at $26,593,000 after buying an additional 25,571 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Acushnet by 9.6% in the first quarter. Vanguard Group Inc. now owns 3,090,666 shares of the company’s stock worth $212,205,000 after buying an additional 269,742 shares during the period. Argent Trust Co lifted its stake in shares of Acushnet by 15.2% during the 1st quarter. Argent Trust Co now owns 3,989 shares of the company’s stock worth $274,000 after acquiring an additional 525 shares during the last quarter. Finally, 12th Street Asset Management Company LLC boosted its holdings in Acushnet by 1.5% during the 1st quarter. 12th Street Asset Management Company LLC now owns 122,677 shares of the company’s stock valued at $8,423,000 after acquiring an additional 1,794 shares during the period. Institutional investors own 53.12% of the company’s stock.

About Acushnet

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.