Acushnet (NYSE: GOLF) had raised its price target by equity research analysts at Roth Capital from 56.00 to 62.00 US dollars in a research note released to investors on Thursday, reports The Fly. The company currently has a “Buy” rating on the stock. Roth Capital’s price target would suggest a potential upside of 13.47% compared to the company’s current price.
A number of other equity analysts have also recently looked into GOLF. Truist Securities raised its target price on Acushnet shares from $ 42.00 to $ 48.00 in a report dated Friday, May 7th. Truist raised its target price on Acushnet shares from $ 48.00 to $ 50.00 and gave the stock a “hold” rating in a report dated Friday, June 25th. Zacks Investment Research downgraded Acushnet’s shares from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley raised its target price on Acushnet shares from $ 50.00 to $ 52.00 and rated the stock “equally weighted” in a report dated Wednesday, July 28th. Eventually, Compass Point upgraded Acushnet stock from a “sell” rating to a “neutral” rating and increased it in a report dated Wednesday 28th. Four research analysts rated the stock with a hold rating and two with one Buy rating rated. The company currently has a consensus rating of “Hold” and a consensus price target of $ 50.71.
GOLF rose $ 1.14 during Thursday’s midday trading to hit $ 54.64. 3,132 shares were exchanged compared to an average volume of 128,854 shares. The company has a debt of 0.29, a current metric of 2.31 and a quick ratio of 1.49. The stock has a market cap of $ 4.05 billion, a P / E of 23.86, and a beta of 0.77. The company has a 50-day moving average of $ 50.44. Acushnet has a 1-year low of $ 32.42 and a 1-year high of $ 54.20.
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Acushnet (NYSE: GOLF) last released its quarterly results on Wednesday, May 5th. The company reported earnings per share of $ 1.13 for the quarter, beating Zacks’ consensus estimate of $ 0.68 by $ 0.45. The company had revenue of $ 580.90 million for the quarter, compared to the consensus estimate of $ 499.29 million. Acushnet had a net margin of 9.64% and a return on equity of 17.82%. The company’s quarterly revenue increased 42.1% year over year. During the same period last year, the company earned $ 0.12 EPS. On average, equity analysts expect Acushnet to post earnings per share of 2.01 for the current fiscal year.
In related news, director Yoon Soo (Gene) Yoon sold 650,000 shares in the company in a transaction dated Monday, May 17. The stock was sold at an average price of $ 48.68 for a total value of $ 31,642,000.00. Following the sale, the director now directly owns 28,417 shares in the company valued at approximately $ 1,383,339.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 54.10% of the company’s stock.
Institutional investors and hedge funds have recently changed their positions in the company. Squarepoint Ops LLC increased its position in Acushnet shares by 101.1% in the first quarter. Squarepoint Ops LLC now owns 16,905 shares in the company valued at $ 699,000 after purchasing an additional 8,500 shares during the reporting period. Friess Associates LLC increased its position in Acushnet shares by 75.4% in the first quarter. Friess Associates LLC now owns 83,037 shares in the company valued at $ 3,432,000 after purchasing an additional 35,707 shares during the period. Morgan Stanley increased its position in Acushnet stocks 32.5% in the fourth quarter. Morgan Stanley now owns 369,033 shares in the company valued at $ 14,961,000 after purchasing an additional 90,419 shares during the reporting period. Ameriprise Financial Inc. increased its position in Acushnet shares by 3.7% in the first quarter. Ameriprise Financial Inc. now owns 203,531 shares in the company valued at $ 8,409,000 after purchasing an additional 7,222 shares during the reporting period. Eventually, NFJ Investment Group LLC bought a new stake in Acushnet stock valued at approximately $ 5,808,000 in the first quarter. Hedge funds and other institutional investors own 47.11% of the company’s stock.
Acushnet Holdings Corp. deals with the design, development, manufacture and sale of golf products. It operates in the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Equipment, FootJoy Golf Wear and Others. The Titleist Golf Balls segment encompasses the design and manufacture of golf balls.
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