Analysts Set Acushnet Holdings Corp. (NYSE:GOLF) PT at $67.43

Shares of Acushnet Holdings Corp. (NYSE:GOLF) have received a consensus rating of “Hold” from the five brokerages that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $70.80.

A number of analysts recently issued reports on the stock. Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and dropped their target price for the stock from $86.00 to $75.00 in a research report on Tuesday, September 17th. Compass Point dropped their target price on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Truist Financial increased their target price on shares of Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th.

Acushnet Stock Up 0.9 %

GOLF opened at $63.24 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 21.81 and a beta of 0.85. The business has a 50-day moving average of $63.63 and a two-hundred day moving average of $64.60. Acushnet has a 12 month low of $53.68 and a 12 month high of $74.77.

Acushnet (NYSE:GOLF) last posted its earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). The business had revenue of $683.90 million for the quarter, compared to analyst estimates of $709.83 million. Acushnet had a return on equity of 21.17% and a net margin of 7.91%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the company posted $1.09 EPS. On average, research analysts expect that Acushnet will post 3.02 earnings per share for the current year.

Insider Buying and Selling at Acushnet

In other Acushnet news, Director Holdings Corp. Fila sold 1,110,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.19, for a total value of $71,250,900.00. Following the completion of the sale, the director now owns 31,412,966 shares of the company’s stock, valued at $2,016,398,287.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 54.60% of the stock is owned by corporate insiders.

Institutional Trading of Acushnet

Several large investors have recently bought and sold shares of GOLF. Victory Capital Management Inc. boosted its stake in shares of Acushnet by 871.1% during the 2nd quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock valued at $62,948,000 after buying an additional 889,515 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Acushnet during the 1st quarter valued at approximately $8,754,000. International Assets Investment Management LLC purchased a new position in shares of Acushnet during the 3rd quarter valued at approximately $7,986,000. Thornburg Investment Management Inc. purchased a new position in shares of Acushnet during the 2nd quarter valued at approximately $7,794,000. Finally, Point72 Asset Management L.P. boosted its stake in shares of Acushnet by 2,217.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 74,166 shares of the company’s stock valued at $4,708,000 after buying an additional 70,966 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.