Acushnet (NYSE:GOLF) Receives Average Recommendation of “Hold” from Analysts

Shares of Acushnet (NYSE:GOLF) have received an average rating of “Hold” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $87.8333.

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

Insider Buying and Selling

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the company’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 completion of the sale, the insider directly owned 76,006 shares of the company’s stock, valued at approximately $6,434,667.96. This represents a 20.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 53.60% of the company’s stock.

Institutional Trading of Acushnet

A number of large investors have recently added to or reduced their stakes in GOLF. Brown Brothers Harriman & Co. boosted its stake in shares of Acushnet by 389.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after acquiring an additional 261 shares in the last quarter. Kelleher Financial Advisors purchased a new position in Acushnet in the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC raised its holdings in Acushnet by 149.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after buying an additional 295 shares during the period. Allworth Financial LP lifted its stake in Acushnet by 57.3% during the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after buying an additional 184 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Acushnet by 83.7% in the second quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock worth $39,000 after acquiring an additional 246 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors.

Acushnet Stock Up 0.1%

Acushnet stock opened at $99.95 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. Acushnet has a one year low of $55.31 and a one year high of $104.81. The company has a 50-day simple moving average of $89.39 and a 200-day simple moving average of $82.48. The firm has a market capitalization of $5.86 billion, a P/E ratio of 27.31 and a beta of 0.89.

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.