Acushnet (NYSE:GOLF) Shares Gap Down to $67.14

Acushnet Holdings Corp. (NYSE:GOLF) gapped down prior to trading on Tuesday . The stock had previously closed at $67.14, but opened at $64.14. Acushnet shares last traded at $60.71, with a volume of 5,906 shares trading hands.

Analyst Ratings Changes

Several research firms recently commented on GOLF. Truist Financial raised their price objective on shares of Acushnet from $62.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. increased their target price on Acushnet from $62.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Acushnet presently has an average rating of “Hold” and an average price target of $66.38.

Acushnet Stock Up 1.4 %

The company’s 50 day simple moving average is $65.52 and its 200-day simple moving average is $64.80. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.46 and a current ratio of 2.69. The firm has a market capitalization of $4.30 billion, a PE ratio of 23.66 and a beta of 0.85.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Tuesday, May 7th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.19. Acushnet had a return on equity of 20.65% and a net margin of 8.03%. The firm had revenue of $707.55 million for the quarter, compared to analysts’ expectations of $692.41 million. On average, analysts forecast that Acushnet Holdings Corp. will post 3.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Acushnet news, Director Holdings Corp. Fila sold 587,520 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total value of $37,501,401.60. Following the completion of the transaction, the director now owns 32,522,966 shares of the company’s stock, valued at approximately $2,075,940,919.78. The transaction was disclosed in a filing with the SEC, which is available through this link. 54.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Acushnet

A number of large investors have recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new position in shares of Acushnet during the 2nd quarter valued at about $1,155,000. Victory Capital Management Inc. grew its position in Acushnet by 871.1% during the second quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock valued at $62,948,000 after acquiring an additional 889,515 shares during the last quarter. Cannon Global Investment Management LLC bought a new position in Acushnet during the second quarter valued at approximately $368,000. Crestwood Advisors Group LLC purchased a new position in shares of Acushnet during the second quarter worth approximately $200,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Acushnet by 7,290.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,543 shares of the company’s stock worth $340,000 after acquiring an additional 5,468 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

About Acushnet

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.