Truist Financial Boosts Acushnet (NYSE:GOLF) Price Target to $65.00

Acushnet (NYSE:GOLF) had its target price hoisted by Truist Financial from $63.00 to $65.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price would indicate a potential downside of 3.10% from the stock’s previous close.

GOLF has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price objective on Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Compass Point reduced their target price on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $68.63.

Acushnet Stock Down 0.1 %

Acushnet stock opened at $67.08 on Wednesday. The firm has a 50 day moving average price of $65.64 and a 200-day moving average price of $64.84. The company has a quick ratio of 1.46, a current ratio of 2.69 and a debt-to-equity ratio of 0.91. Acushnet has a twelve month low of $49.42 and a twelve month high of $74.77. The company has a market capitalization of $4.23 billion, a P/E ratio of 23.29 and a beta of 0.85.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.09). The firm had revenue of $683.90 million for the quarter, compared to the consensus estimate of $709.83 million. Acushnet had a net margin of 8.03% and a return on equity of 20.65%. Acushnet’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the company posted $1.09 earnings per share. As a group, equities analysts predict that Acushnet will post 3.12 EPS for the current year.

Insider Activity

In related news, Director Holdings Corp. Fila sold 587,520 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total transaction of $37,501,401.60. Following the completion of the transaction, the director now owns 32,522,966 shares of the company’s stock, valued at $2,075,940,919.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 54.60% of the company’s stock.

Institutional Investors Weigh In On Acushnet

A number of institutional investors and hedge funds have recently made changes to their positions in GOLF. Victory Capital Management Inc. increased its stake in Acushnet by 871.1% in the 2nd quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock worth $62,948,000 after acquiring an additional 889,515 shares during the last quarter. Norges Bank bought a new position in shares of Acushnet in the fourth quarter worth approximately $21,945,000. International Assets Investment Management LLC bought a new position in shares of Acushnet in the fourth quarter worth approximately $9,318,000. Edgestream Partners L.P. purchased a new stake in Acushnet in the first quarter valued at approximately $8,754,000. Finally, Eagle Asset Management Inc. bought a new stake in Acushnet during the fourth quarter valued at approximately $7,673,000. 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.