KeyCorp Forecasts Strong Price Appreciation for Acushnet (NYSE:GOLF) Stock

Acushnet (NYSE:GOLF) had its price objective lifted by equities researchers at KeyCorp from $85.00 to $90.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 12.85% from the company’s previous close.

Other analysts have also issued reports about the stock. Weiss Ratings restated a “buy (b)” rating on shares of Acushnet in a report on Wednesday, October 8th. Truist Financial increased their target price on Acushnet from $65.00 to $74.00 and gave the stock a “hold” rating in a research report on Tuesday. Zacks Research downgraded shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Finally, Morgan Stanley upped their price target on shares of Acushnet from $63.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $76.50.

Acushnet Trading Up 2.8%

NYSE GOLF opened at $79.75 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 2.42. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $84.40. The stock has a market cap of $4.68 billion, a P/E ratio of 21.79 and a beta of 0.90. The stock has a 50 day simple moving average of $77.88 and a two-hundred day simple moving average of $75.11.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The company had revenue of $657.66 million for the quarter, compared to analysts’ expectations of $632.76 million. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Acushnet has set its FY 2025 guidance at EPS. On average, analysts forecast that Acushnet will post 3.06 earnings per share for the current year.

Insider Activity at Acushnet

In other news, insider Mary Louise Bohn sold 13,190 shares of the business’s 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 transaction, the insider owned 191,786 shares of the company’s stock, valued at approximately $15,122,326.10. The trade was a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 53.60% of the company’s stock.

Hedge Funds Weigh In On Acushnet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in Acushnet by 2.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,046 shares of the company’s stock valued at $553,000 after buying an additional 140 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Acushnet by 6.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company’s stock valued at $240,000 after purchasing an additional 203 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Acushnet by 7.1% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 3,472 shares of the company’s stock worth $253,000 after purchasing an additional 230 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Acushnet by 4.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 5,618 shares of the company’s stock valued at $409,000 after purchasing an additional 232 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Acushnet by 3.7% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,789 shares of the company’s stock valued at $494,000 after purchasing an additional 241 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

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.