Acushnet (NYSE:GOLF – Get Free Report) had its price target hoisted by equities researchers at Tigress Financial from $62.00 to $68.00 in a report released on Thursday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. Tigress Financial’s target price would suggest a potential upside of 20.04% from the company’s current price.
A number of other brokerages have also recently issued reports on GOLF. StockNews.com began coverage on shares of Acushnet in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Truist Financial increased their price objective on shares of Acushnet from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, August 4th. KeyCorp boosted their target price on shares of Acushnet from $61.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Jefferies Financial Group upgraded shares of Acushnet from a “hold” rating to a “buy” rating and boosted their target price for the company from $61.00 to $84.00 in a research note on Monday, August 21st. Finally, Compass Point boosted their target price on shares of Acushnet from $57.00 to $59.00 in a research note on Friday, August 4th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $59.33.
Acushnet Stock Performance
Acushnet (NYSE:GOLF – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $1.09 earnings per share (EPS) for the quarter, beating 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 company had revenue of $689.40 million during the quarter, compared to analysts’ expectations of $673.30 million. During the same quarter in the prior year, the company posted $0.91 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Equities research analysts forecast that Acushnet will post 2.9 EPS for the current year.
In other Acushnet news, insider Christopher Aaron Lindner sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $51.45, for a total transaction of $411,600.00. Following the transaction, the insider now owns 102,910 shares in the company, valued at $5,294,719.50. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Brendan J. Reidy sold 17,000 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $56.08, for a total value of $953,360.00. Following the completion of the transaction, the insider now owns 55,101 shares of the company’s stock, valued at approximately $3,090,064.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Aaron Lindner sold 8,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $51.45, for a total value of $411,600.00. Following the sale, the insider now directly owns 102,910 shares in the company, valued at approximately $5,294,719.50. The disclosure for this sale can be found here. Insiders have sold 38,101 shares of company stock valued at $2,129,272 over the last 90 days. 54.10% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOLF. Norges Bank acquired a new position in Acushnet in the fourth quarter valued at about $16,261,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Acushnet by 3.6% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,046,506 shares of the company’s stock valued at $409,889,000 after purchasing an additional 279,465 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Acushnet by 40.3% in the 1st quarter. Ameriprise Financial Inc. now owns 970,028 shares of the company’s stock valued at $49,414,000 after purchasing an additional 278,613 shares during the period. Tributary Capital Management LLC acquired a new stake in shares of Acushnet in the 2nd quarter valued at about $11,237,000. Finally, Marshall Wace LLP boosted its stake in shares of Acushnet by 719.0% during the 4th quarter. Marshall Wace LLP now owns 211,502 shares of the company’s stock worth $8,980,000 after buying an additional 185,677 shares during the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.
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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