Acushnet (NYSE:GOLF) Price Target Raised to $65.00 at Truist Financial

Acushnet (NYSE:GOLF) had its target price raised by stock analysts at Truist Financial from $63.00 to $65.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price objective points to a potential downside of 3.10% from the stock’s current price.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. upped their target price on Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Compass Point dropped their price objective on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $68.63.

Acushnet Price Performance

NYSE:GOLF opened at $67.08 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.69 and a quick ratio of 1.46. The stock has a market cap of $4.23 billion, a P/E ratio of 23.29 and a beta of 0.85. The company has a fifty day moving average price of $65.64 and a 200 day moving average price of $64.84. Acushnet has a one year low of $49.42 and a one year high of $74.77.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). Acushnet had a net margin of 8.03% and a return on equity of 20.65%. The company had revenue of $683.90 million for the quarter, compared to analyst estimates of $709.83 million. During the same period in the prior year, the company posted $1.09 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. Analysts anticipate that Acushnet will post 3.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Holdings Corp. Fila sold 587,520 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total value of $37,501,401.60. Following the sale, the director now owns 32,522,966 shares in the company, valued at approximately $2,075,940,919.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 54.60% of the company’s stock.

Institutional Trading of Acushnet

Several hedge funds have recently modified their holdings of GOLF. Raymond James Financial Services Advisors Inc. grew its position in Acushnet by 18.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 5,075 shares of the company’s stock worth $321,000 after acquiring an additional 798 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Acushnet in the fourth quarter worth $9,318,000. Cerity Partners LLC bought a new stake in shares of Acushnet during the fourth quarter worth $572,000. Strs Ohio acquired a new stake in shares of Acushnet in the fourth quarter valued at $890,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Acushnet by 7.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,403 shares of the company’s stock valued at $531,000 after buying an additional 566 shares during the last quarter. Institutional investors and hedge funds 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.