Acushnet (NYSE:GOLF) Price Target Raised to $74.00

Acushnet (NYSE:GOLF) had its target price lifted by Truist Financial from $65.00 to $74.00 in a report released on Tuesday morning, Marketbeat Ratings reports. Truist Financial currently has a hold rating on the stock.

A number of other research firms have also recently commented on GOLF. KeyCorp boosted their price target on Acushnet from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Zacks Research cut shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Weiss Ratings restated a “buy (b)” rating on shares of Acushnet in a research report on Wednesday, October 8th. Finally, Morgan Stanley raised their target price on shares of Acushnet from $63.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.50.

Acushnet Trading Down 0.5%

Shares of Acushnet stock opened at $77.92 on Tuesday. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $84.40. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 2.42. The company has a market capitalization of $4.57 billion, a P/E ratio of 21.29 and a beta of 0.90. The company has a fifty day moving average of $77.82 and a 200 day moving average of $74.97.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business had revenue of $2,080.08 billion during the quarter, compared to analysts’ expectations of $632.76 million. Acushnet had a net margin of 8.80% and a return on equity of 27.50%. Acushnet’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Acushnet has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.94 dividend on an annualized basis and a yield of 1.2%. Acushnet’s dividend payout ratio is presently 25.68%.

Insider Activity at Acushnet

In other Acushnet news, insider Mary Louise Bohn sold 13,190 shares of Acushnet stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $78.85, for a total value of $1,040,031.50. Following the completion of the transaction, the insider directly owned 191,786 shares of the company’s stock, valued at $15,122,326.10. This trade represents a 6.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 53.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Acushnet by 9.6% during the first quarter. Vanguard Group Inc. now owns 3,090,666 shares of the company’s stock valued at $212,205,000 after purchasing an additional 269,742 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Acushnet by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,549,266 shares of the company’s stock valued at $106,366,000 after purchasing an additional 42,533 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Acushnet by 6.7% during the 1st quarter. Wellington Management Group LLP now owns 1,310,965 shares of the company’s stock valued at $90,011,000 after purchasing an additional 82,247 shares during the last quarter. Raymond James Financial Inc. raised its holdings in Acushnet by 0.4% during the 2nd quarter. Raymond James Financial Inc. now owns 952,453 shares of the company’s stock valued at $69,358,000 after buying an additional 4,243 shares during the period. Finally, Geode Capital Management LLC lifted its position in Acushnet by 0.8% in the second quarter. Geode Capital Management LLC now owns 662,194 shares of the company’s stock worth $48,227,000 after buying an additional 5,009 shares during the last quarter. Institutional investors own 53.12% of the company’s stock.

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.