Brokerages Set Acushnet (NYSE:GOLF) PT at $87.83

Acushnet (NYSE:GOLF) has earned a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $87.8333.

GOLF has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Acushnet from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $74.00 to $96.00 in a research report on Friday, January 23rd. Truist Financial boosted their price objective on Acushnet from $74.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, February 9th. Morgan Stanley increased their target price on Acushnet from $90.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, January 22nd. KeyCorp reaffirmed a “sector weight” rating on shares of Acushnet in a research note on Friday, January 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Acushnet in a research report on Wednesday, January 21st.

Insider Activity

In other news, insider Steven Francis Pelisek sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 76,006 shares of the company’s stock, valued at approximately $6,434,667.96. This trade represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 53.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Acushnet

Several hedge funds and other institutional investors have recently bought and sold shares of GOLF. Kestra Advisory Services LLC acquired a new position in Acushnet in the 4th quarter valued at about $176,000. Marshall Wace LLP purchased a new stake in shares of Acushnet during the 4th quarter valued at approximately $834,000. Morgan Stanley lifted its holdings in Acushnet by 22.3% in the fourth quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock valued at $110,091,000 after acquiring an additional 251,889 shares during the last quarter. First Trust Advisors LP grew its position in Acushnet by 172.0% in the fourth quarter. First Trust Advisors LP now owns 81,962 shares of the company’s stock worth $6,542,000 after acquiring an additional 51,833 shares during the period. Finally, HRT Financial LP grew its position in Acushnet by 1,986.0% in the fourth quarter. HRT Financial LP now owns 54,320 shares of the company’s stock worth $4,335,000 after acquiring an additional 51,716 shares during the period. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Price Performance

Shares of NYSE GOLF opened at $99.39 on Friday. 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 firm has a fifty day moving average of $89.71 and a 200 day moving average of $82.62. The firm has a market cap of $5.83 billion, a PE ratio of 27.16 and a beta of 0.89. Acushnet has a one year low of $55.31 and a one year high of $104.81.

Acushnet Company Profile

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.