Equities research analysts at StockNews.com began coverage on shares of Acushnet (NYSE:GOLF – Get Free Report) in a research report issued on Thursday. The brokerage set a “hold” rating on the stock.
A number of other analysts have also weighed in on GOLF. Morgan Stanley restated an “equal weight” rating and set a $59.00 target price on shares of Acushnet in a research note on Wednesday, September 27th. KeyCorp upped their price target on Acushnet from $61.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Truist Financial upped their price target on Acushnet from $50.00 to $55.00 and gave the company a “hold” rating in a report on Friday, August 4th. Jefferies Financial Group raised Acushnet from a “hold” rating to a “buy” rating and upped their price target for the company from $61.00 to $84.00 in a report on Monday, August 21st. Finally, Tigress Financial upped their price target on Acushnet from $62.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, September 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Acushnet has a consensus rating of “Hold” and a consensus target price of $59.44.
Check Out Our Latest Research Report on GOLF
Acushnet Stock Up 0.7 %
Acushnet (NYSE:GOLF – Get Free Report) last released its earnings results on Thursday, August 3rd. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.16. Acushnet had a net margin of 9.23% and a return on equity of 21.42%. The firm had revenue of $689.40 million for the quarter, compared to analyst estimates of $673.30 million. During the same period in the prior year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts predict that Acushnet will post 2.86 EPS for the current year.
Insider Activity at Acushnet
In related news, CFO Sean S. Sullivan sold 13,101 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $58.34, for a total transaction of $764,312.34. Following the sale, the chief financial officer now directly owns 110,975 shares in the company, valued at approximately $6,474,281.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Acushnet news, insider Brendan J. Reidy sold 17,000 shares of Acushnet stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $56.08, for a total transaction of $953,360.00. Following the sale, the insider now directly owns 55,101 shares in the company, valued at approximately $3,090,064.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sean S. Sullivan sold 13,101 shares of Acushnet stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $58.34, for a total value of $764,312.34. Following the sale, the chief financial officer now owns 110,975 shares in the company, valued at $6,474,281.50. The disclosure for this sale can be found here. Company insiders own 54.10% of the company’s stock.
Institutional Investors Weigh In On Acushnet
Institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. raised its position in shares of Acushnet by 527.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 496 shares of the company’s stock valued at $27,000 after acquiring an additional 417 shares in the last quarter. UMB Bank n.a. boosted its stake in Acushnet by 2,638.1% during the second quarter. UMB Bank n.a. now owns 575 shares of the company’s stock valued at $31,000 after buying an additional 554 shares in the last quarter. Federated Hermes Inc. bought a new position in Acushnet during the third quarter valued at about $30,000. First Capital Advisors Group LLC. bought a new position in Acushnet during the second quarter valued at about $43,000. Finally, Point72 Hong Kong Ltd bought a new position in Acushnet during the second quarter valued at about $57,000. 53.12% of the stock is owned by institutional investors and hedge funds.
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.
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