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

Shares of Acushnet (NYSE:GOLF) have earned a consensus recommendation of “Hold” from the eight brokerages that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $87.8333.

GOLF has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of Acushnet from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $74.00 to $96.00 in a research report on Friday, January 23rd. Zacks Research upgraded shares of Acushnet from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. KeyCorp reiterated a “sector weight” rating on shares of Acushnet in a report on Friday, January 16th. Truist Financial raised their target price on Acushnet from $74.00 to $95.00 and gave the company a “hold” rating in a report on Monday. Finally, Roth Mkm reiterated a “neutral” rating and set a $80.00 price target on shares of Acushnet in a research note on Thursday, November 6th.

Insider Buying and Selling

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $84.66, for a total transaction of $1,693,200.00. Following the transaction, the insider owned 76,006 shares in the company, valued at $6,434,667.96. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 53.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Fisher Asset Management LLC raised its holdings in Acushnet by 238.0% in the 3rd quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock worth $55,269,000 after acquiring an additional 495,794 shares during the period. Norges Bank bought a new stake in Acushnet during the second quarter valued at about $20,963,000. Tributary Capital Management LLC grew its position in shares of Acushnet by 92.6% in the third quarter. Tributary Capital Management LLC now owns 457,490 shares of the company’s stock valued at $35,908,000 after purchasing an additional 219,895 shares during the last quarter. M&T Bank Corp increased its stake in shares of Acushnet by 668.1% in the fourth quarter. M&T Bank Corp now owns 159,874 shares of the company’s stock worth $12,761,000 after purchasing an additional 139,060 shares during the period. Finally, Neumeier Poma Investment Counsel LLC increased its stake in shares of Acushnet by 51.7% in the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 384,424 shares of the company’s stock worth $30,685,000 after purchasing an additional 130,990 shares during the period. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Stock Up 0.1%

NYSE:GOLF opened at $99.95 on Friday. Acushnet has a 1-year low of $55.31 and a 1-year high of $104.81. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 27.31 and a beta of 0.89. The company has a current ratio of 2.42, a quick ratio of 1.30 and a debt-to-equity ratio of 1.03. The business’s fifty day moving average price is $89.39 and its 200 day moving average price is $82.48.

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.