Acushnet (NYSE:GOLF) Price Target Cut to $77.00 by Analysts at KeyCorp

Acushnet (NYSE:GOLF) had its target price dropped by analysts at KeyCorp from $80.00 to $77.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 18.56% from the stock’s previous close.

Several other equities analysts have also commented on GOLF. Truist Financial raised their price objective on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered Acushnet from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $72.00.

Acushnet Trading Up 0.1 %

GOLF stock traded up $0.07 on Friday, reaching $64.95. The company’s stock had a trading volume of 72,056 shares, compared to its average volume of 538,394. The business has a fifty day simple moving average of $69.06 and a two-hundred day simple moving average of $67.60. Acushnet has a 12-month low of $58.54 and a 12-month high of $76.65. The firm has a market cap of $3.95 billion, a PE ratio of 22.13 and a beta of 0.86. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. As a group, research analysts forecast that Acushnet will post 3.06 EPS for the current year.

Institutional Trading of Acushnet

Large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after acquiring an additional 176 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Acushnet in the 4th quarter worth approximately $31,000. Prospera Private Wealth LLC bought a new position in shares of Acushnet during the 3rd quarter valued at approximately $41,000. Lazard Asset Management LLC bought a new position in shares of Acushnet during the 4th quarter valued at approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of Acushnet by 39.6% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company’s stock valued at $58,000 after purchasing an additional 232 shares during the last quarter. Institutional investors own 53.12% of the company’s stock.

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.