Acushnet (NYSE:GOLF) Price Target Raised to $90.00

Acushnet (NYSE:GOLF) had its price target lifted by Morgan Stanley from $80.00 to $90.00 in a research report report published on Thursday, MarketBeat reports. The brokerage currently has an equal weight rating on the stock.

GOLF has been the subject of several other reports. KeyCorp lifted their price objective on shares of Acushnet from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. lifted their price target on Acushnet from $67.00 to $74.00 and gave the stock an “underweight” rating in a research report on Monday, December 15th. Roth Capital reiterated a “neutral” rating and set a $80.00 price target on shares of Acushnet in a research note on Thursday, November 6th. Truist Financial raised their price objective on Acushnet from $65.00 to $74.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Acushnet in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $79.83.

Acushnet Price Performance

Shares of NYSE GOLF opened at $91.87 on Thursday. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $94.18. The company has a market cap of $5.39 billion, a PE ratio of 25.10 and a beta of 0.88. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.30 and a current ratio of 2.42. The business has a 50-day simple moving average of $83.51 and a two-hundred day simple moving average of $80.09.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The company had revenue of $657.66 million during the quarter, compared to analysts’ expectations of $632.76 million. Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 earnings per share. As a group, equities analysts expect that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.235 dividend. The ex-dividend date was Friday, December 5th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.0%. Acushnet’s dividend payout ratio is presently 25.68%.

Insider Activity at Acushnet

In other news, CEO David Eugene Maher sold 26,939 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $79.33, for a total transaction of $2,137,070.87. Following the sale, the chief executive officer owned 852,092 shares of the company’s stock, valued at $67,596,458.36. This trade represents a 3.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $84.66, for a total transaction of $1,693,200.00. Following the transaction, the insider directly owned 76,006 shares of the company’s stock, valued at approximately $6,434,667.96. This trade represents a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 71,460 shares of company stock valued at $5,786,311. 53.60% of the stock is owned by company insiders.

Institutional Trading of Acushnet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in shares of Acushnet by 2.0% in the third quarter. PNC Financial Services Group Inc. now owns 7,046 shares of the company’s stock worth $553,000 after acquiring an additional 140 shares during the period. GAMMA Investing LLC boosted its position in Acushnet by 8.4% during the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock worth $149,000 after purchasing an additional 144 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its holdings in Acushnet by 0.3% in the third quarter. Vestmark Advisory Solutions Inc. now owns 46,246 shares of the company’s stock valued at $3,630,000 after purchasing an additional 148 shares during the period. Allworth Financial LP increased its position in shares of Acushnet by 57.3% in the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after buying an additional 184 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Acushnet by 7.1% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 3,472 shares of the company’s stock valued at $253,000 after buying an additional 230 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

About Acushnet

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.