Acushnet (NYSE:GOLF) Stock Price Expected to Rise, KeyCorp Analyst Says

Key Points

• KeyCorp has raised its price target for Acushnet (NYSE:GOLF) from $80.00 to $85.00, indicating a potential upside of 11.23% from its current price.
• Acushnet's recent quarterly earnings showed a net margin of 9.21% and a revenue increase of 5.4% year-over-year, although the EPS of $1.25 missed analysts' expectations.
• While most analysts have issued a "hold" rating for Acushnet, there is a mix of other recommendations, including one sell and one buy, highlighting a consensus rating of "Hold".

Acushnet (NYSE:GOLF - Free Report) had its price target hoisted by KeyCorp from $80.00 to $85.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also weighed in on GOLF. Morgan Stanley upped their target price on Acushnet from $63.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Truist Financial upped their target price on Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Finally, Compass Point lowered Acushnet from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $80.00 to $71.00 in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Acushnet currently has a consensus rating of "Hold" and an average target price of $73.33.

Acushnet Stock Down 3.1%

Acushnet stock traded down $2.41 during mid-day trading on Friday, reaching $74.77. 722,904 shares of the company were exchanged, compared to its average volume of 389,005. The business has a fifty day moving average of $75.85 and a 200 day moving average of $69.31. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.21 and a current ratio of 2.25. The firm has a market cap of $4.39 billion, a P/E ratio of 19.99 and a beta of 0.84. Acushnet has a 12-month low of $55.31 and a 12-month high of $84.40.

Acushnet (NYSE:GOLF - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.25 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.08). The company had revenue of $720.48 million for the quarter, compared to analysts' expectations of $713.70 million. Acushnet had a return on equity of 28.05% and a net margin of 9.24%. The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 EPS. Research analysts anticipate that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, September 5th. Acushnet's dividend payout ratio is currently 26.11%.

Insider Activity at Acushnet

In other news, Director Holdings Corp. Misto sold 953,406 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the completion of the sale, the director owned 29,523,653 shares in the company, valued at approximately $1,935,570,690.68. This represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 53.60% of the company's stock.

Institutional Trading of Acushnet

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC acquired a new position in shares of Acushnet in the 4th quarter valued at $28,641,000. Vanguard Group Inc. increased its position in shares of Acushnet by 9.6% in the 1st quarter. Vanguard Group Inc. now owns 3,090,666 shares of the company's stock valued at $212,205,000 after acquiring an additional 269,742 shares during the period. Nuveen LLC acquired a new position in shares of Acushnet in the 1st quarter valued at $9,376,000. Edgestream Partners L.P. acquired a new position in shares of Acushnet in the 1st quarter valued at $6,020,000. Finally, Public Sector Pension Investment Board acquired a new position in shares of Acushnet in the 1st quarter valued at $5,958,000. Hedge funds and other institutional investors own 53.12% of the company's stock.

Acushnet Company Profile

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.