Acushnet (NYSE:GOLF) Price Target Raised to $63.00

Acushnet (NYSE:GOLF - Free Report) had its price target boosted by Truist Financial from $62.00 to $63.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

Separately, KeyCorp increased their target price on shares of Acushnet from $65.00 to $75.00 and gave the company an overweight rating in a report on Friday, January 12th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $66.86.

Acushnet Price Performance

Shares of Acushnet stock traded down $2.45 during trading on Wednesday, reaching $62.99. The company's stock had a trading volume of 552,694 shares, compared to its average volume of 357,112. The business has a 50 day moving average price of $63.50 and a 200-day moving average price of $61.80. The company has a market capitalization of $3.99 billion, a P/E ratio of 21.81 and a beta of 0.88. The company has a quick ratio of 0.84, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. Acushnet has a 12-month low of $43.62 and a 12-month high of $70.10.

Acushnet (NYSE:GOLF - Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.03). The company had revenue of $413.00 million for the quarter, compared to analysts' expectations of $429.16 million. Acushnet had a return on equity of 20.09% and a net margin of 8.33%. The business's quarterly revenue was down 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Acushnet will post 3.17 EPS for the current year.

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, June 7th. Acushnet's payout ratio is 29.76%.

Insiders Place Their Bets

In other Acushnet news, insider John Francis Duke, Jr. sold 17,000 shares of the business's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $64.32, for a total value of $1,093,440.00. Following the completion of the transaction, the insider now directly owns 130,472 shares in the company, valued at approximately $8,391,959.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Brendan J. Reidy sold 9,000 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $64.49, for a total value of $580,410.00. Following the completion of the sale, the insider now directly owns 58,588 shares in the company, valued at $3,778,340.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John Francis Duke, Jr. sold 17,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the transaction, the insider now directly owns 130,472 shares in the company, valued at approximately $8,391,959.04. The disclosure for this sale can be found here. 54.60% of the stock is owned by corporate insiders.

Institutional Trading of Acushnet

Several institutional investors have recently made changes to their positions in GOLF. Norges Bank purchased a new position in Acushnet in the fourth quarter valued at approximately $21,945,000. International Assets Investment Management LLC purchased a new position in shares of Acushnet in the 4th quarter valued at $9,318,000. Eagle Asset Management Inc. acquired a new position in shares of Acushnet during the 4th quarter valued at $7,673,000. Grantham Mayo Van Otterloo & Co. LLC boosted its position in Acushnet by 32.3% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 386,443 shares of the company's stock worth $20,497,000 after purchasing an additional 94,253 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Acushnet by 8.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 965,654 shares of the company's stock valued at $51,221,000 after purchasing an additional 71,263 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

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.