Acushnet (NYSE:GOLF) Given New $90.00 Price Target at Morgan Stanley

Acushnet (NYSE:GOLF) had its price objective boosted by Morgan Stanley from $80.00 to $90.00 in a research report report published on Thursday morning, MarketBeat reports. Morgan Stanley currently has an equal weight rating on the stock.

GOLF has been the subject of a number of other reports. Truist Financial lifted their target price on shares of Acushnet from $65.00 to $74.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Roth Capital restated a “neutral” rating and issued a $80.00 target price on shares of Acushnet in a research note on Thursday, November 6th. JPMorgan Chase & Co. lifted their price objective on shares of Acushnet from $67.00 to $74.00 and gave the company an “underweight” rating in a report on Monday, December 15th. KeyCorp upped their target price on Acushnet from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Acushnet in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $79.83.

Acushnet Stock Performance

Acushnet stock opened at $92.93 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.30 and a current ratio of 2.42. The company has a market capitalization of $5.45 billion, a PE ratio of 25.39 and a beta of 0.88. The company has a 50 day moving average price of $83.27 and a 200-day moving average price of $79.92. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $94.18.

Acushnet (NYSE:GOLF) last posted its earnings results on Wednesday, November 5th. The company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The business had revenue of $657.66 million for the quarter, compared to analysts’ expectations of $632.76 million. During the same period last year, the business posted $0.89 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts forecast that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, December 5th. Acushnet’s dividend payout ratio (DPR) is presently 25.68%.

Insider Transactions at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $84.66, for a total value of $1,693,200.00. Following the completion of the sale, the insider directly owned 76,006 shares of the company’s stock, valued at $6,434,667.96. The trade was a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Eugene Maher sold 26,939 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $79.33, for a total value of $2,137,070.87. Following the completion of the sale, the chief executive officer directly owned 852,092 shares of the company’s stock, valued at $67,596,458.36. The trade was a 3.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 71,460 shares of company stock valued at $5,786,311 over the last ninety days. 53.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Acushnet

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. raised its holdings in Acushnet by 0.4% during the second quarter. Raymond James Financial Inc. now owns 952,453 shares of the company’s stock worth $69,358,000 after purchasing an additional 4,243 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Acushnet by 238.0% in the third quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock valued at $55,269,000 after purchasing an additional 495,794 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Acushnet by 0.8% in the second quarter. Geode Capital Management LLC now owns 662,194 shares of the company’s stock valued at $48,227,000 after buying an additional 5,009 shares in the last quarter. Tributary Capital Management LLC raised its stake in shares of Acushnet by 92.6% during the 3rd quarter. Tributary Capital Management LLC now owns 457,490 shares of the company’s stock worth $35,908,000 after buying an additional 219,895 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Acushnet by 31.8% during the 2nd quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock worth $33,312,000 after buying an additional 110,245 shares during the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.