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

Acushnet (NYSE:GOLF) had its target price decreased by research analysts at KeyCorp from $80.00 to $77.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 19.77% from the company’s previous close.

A number of other research analysts have also weighed in on GOLF. JPMorgan Chase & Co. lowered Acushnet from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. Truist Financial increased their price target on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $72.00.

Acushnet Stock Down 0.9 %

GOLF stock opened at $64.29 on Friday. The stock has a market capitalization of $3.91 billion, a PE ratio of 21.87 and a beta of 0.86. Acushnet has a 52 week low of $58.54 and a 52 week high of $76.65. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The firm has a 50 day moving average of $68.95 and a 200 day moving average of $67.59.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.31. The business had revenue of $445.17 billion during the quarter, compared to the consensus estimate of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. Sell-side analysts forecast that Acushnet will post 3.06 earnings per share for the current year.

Institutional Trading of Acushnet

Several hedge funds and other institutional investors have recently bought and sold shares of GOLF. Raymond James Financial Inc. acquired a new position in Acushnet in the fourth quarter valued at approximately $62,713,000. Jane Street Group LLC lifted its stake in shares of Acushnet by 702.1% in the 3rd quarter. Jane Street Group LLC now owns 508,705 shares of the company’s stock valued at $32,430,000 after purchasing an additional 445,281 shares during the period. Lord Abbett & CO. LLC purchased a new stake in Acushnet during the fourth quarter worth $28,641,000. Norges Bank purchased a new stake in Acushnet during the fourth quarter worth $14,825,000. Finally, Point72 Asset Management L.P. grew its position in Acushnet by 258.9% during the third quarter. Point72 Asset Management L.P. now owns 266,200 shares of the company’s stock valued at $16,970,000 after buying an additional 192,034 shares during the period. 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.