Acushnet (NYSE:GOLF) Price Target Raised to $80.00 at Morgan Stanley

Acushnet (NYSE:GOLF - Free Report) had its price target boosted by Morgan Stanley from $63.00 to $80.00 in a research note published on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

GOLF has been the topic of a number of other research reports. Truist Financial increased their target price on Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. KeyCorp reiterated an "overweight" rating and set a $80.00 target price (up previously from $75.00) on shares of Acushnet in a research note on Friday, June 27th. Finally, Compass Point lowered Acushnet from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $72.50.

Acushnet Stock Up 0.7%

NYSE GOLF traded up $0.58 during trading hours on Friday, hitting $80.87. 302,767 shares of the company traded hands, compared to its average volume of 399,770. The business's 50-day moving average is $72.72 and its 200-day moving average is $68.53. Acushnet has a twelve month low of $55.31 and a twelve month high of $81.58. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.21 and a current ratio of 2.21. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 22.46 and a beta of 0.84.

Acushnet (NYSE:GOLF - Get Free Report) last released 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 return on equity of 26.81% and a net margin of 9.21%. The company had revenue of $703.37 million during the quarter, compared to analysts' expectations of $697.82 million. During the same period last year, the firm posted $1.35 earnings per share. The business's revenue was down .6% on a year-over-year basis. Sell-side analysts anticipate that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Friday, June 6th. Acushnet's payout ratio is presently 26.11%.

Insider Buying and Selling

In other news, Director Holdings Corp. Misto sold 953,406 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $65.56, for a total value of $62,505,297.36. Following the transaction, the director directly owned 29,523,653 shares of the company's stock, valued at $1,935,570,690.68. The trade was a 3.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 53.60% of the company's stock.

Institutional Trading of Acushnet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOLF. Corient Private Wealth LLC bought a new stake in Acushnet during the 4th quarter worth approximately $210,000. Intech Investment Management LLC grew its holdings in shares of Acushnet by 37.1% in the fourth quarter. Intech Investment Management LLC now owns 11,154 shares of the company's stock valued at $793,000 after acquiring an additional 3,020 shares in the last quarter. Semanteon Capital Management LP grew its holdings in shares of Acushnet by 3.0% in the fourth quarter. Semanteon Capital Management LP now owns 9,659 shares of the company's stock valued at $687,000 after acquiring an additional 281 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Acushnet by 3.9% in the fourth quarter. American Century Companies Inc. now owns 18,882 shares of the company's stock valued at $1,342,000 after acquiring an additional 711 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Acushnet by 4.3% in the fourth quarter. Sei Investments Co. now owns 102,137 shares of the company's stock valued at $7,260,000 after acquiring an additional 4,256 shares in the last quarter. 53.12% of the stock is owned by institutional investors.

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.