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

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

A number of other equities research analysts also recently weighed in 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. downgraded Acushnet from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $72.00.

Acushnet Trading Up 0.1 %

Acushnet stock traded up $0.07 during mid-day trading on Friday, hitting $64.95. The company’s stock had a trading volume of 72,056 shares, compared to its average volume of 538,394. The company has a 50 day moving average of $69.06 and a 200-day moving average of $67.60. The stock 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 has a one year low of $58.54 and a one year high of $76.65.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share (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 business had revenue of $445.17 billion for the quarter, compared to the consensus estimate of $454.83 million. On average, research analysts anticipate that Acushnet will post 3.06 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in Acushnet by 100.6% during the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock valued at $25,000 after acquiring an additional 176 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Acushnet during the fourth quarter valued at approximately $31,000. Prospera Private Wealth LLC purchased a new position in Acushnet during the third quarter valued at approximately $41,000. Lazard Asset Management LLC purchased a new position in Acushnet during the fourth quarter valued at approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in Acushnet by 39.6% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company’s stock valued at $58,000 after acquiring an additional 232 shares in the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

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.