Acushnet (NYSE:GOLF) PT Raised to $63.00 at JPMorgan Chase & Co.

Acushnet (NYSE:GOLFGet Free Report) had its price objective increased by analysts at JPMorgan Chase & Co. from $62.00 to $63.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 0.10% from the company’s current price.

Separately, Truist Financial increased their price objective on shares of Acushnet from $62.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $66.38.

View Our Latest Analysis on GOLF

Acushnet Price Performance

Shares of GOLF stock opened at $62.94 on Tuesday. Acushnet has a 1 year low of $44.42 and a 1 year high of $70.10. The firm’s 50 day moving average is $63.47 and its 200-day moving average is $62.95. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 21.98 and a beta of 0.88. The company has a current ratio of 2.69, a quick ratio of 1.46 and a debt-to-equity ratio of 0.91.

Acushnet (NYSE:GOLFGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.19. Acushnet had a net margin of 8.03% and a return on equity of 20.65%. The company had revenue of $707.55 million for the quarter, compared to analyst estimates of $692.41 million. Sell-side analysts forecast that Acushnet will post 3.11 EPS for the current fiscal year.

Insider Transactions at Acushnet

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. acquired a new stake in Acushnet in the first quarter valued at $27,000. Federated Hermes Inc. acquired a new stake in Acushnet in the fourth quarter valued at $32,000. Gladius Capital Management LP acquired a new stake in Acushnet in the fourth quarter valued at $37,000. Principal Securities Inc. acquired a new stake in Acushnet in the fourth quarter valued at $37,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Acushnet by 101.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock valued at $76,000 after acquiring an additional 585 shares during the last quarter. Institutional investors own 53.12% of the company’s stock.

About Acushnet

(Get Free Report)

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.

See Also

Analyst Recommendations for Acushnet (NYSE:GOLF)

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