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

Acushnet (NYSE:GOLF) has earned a consensus rating of “Hold” from the eight brokerages that are currently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $87.8333.

Several analysts have commented on GOLF shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Acushnet in a report on Wednesday, January 21st. Morgan Stanley raised their price objective on Acushnet from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, January 22nd. Truist Financial lifted their price objective on Acushnet from $74.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, February 9th. KeyCorp reissued a “sector weight” rating on shares of Acushnet in a research report on Friday, January 16th. Finally, JPMorgan Chase & Co. raised shares of Acushnet from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $74.00 to $96.00 in a research report on Friday, January 23rd.

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet 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 sale, the insider directly owned 76,006 shares in the company, valued at $6,434,667.96. The trade was a 20.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 53.60% of the stock is owned by corporate insiders.

Institutional Trading of Acushnet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. boosted its holdings in Acushnet by 389.6% in the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after purchasing an additional 261 shares during the period. Kelleher Financial Advisors acquired a new position in Acushnet during the 3rd quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its position in Acushnet by 149.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after purchasing an additional 295 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Acushnet by 83.7% in the second quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock valued at $39,000 after purchasing an additional 246 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Acushnet by 57.3% in the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after purchasing an additional 184 shares during the period. 53.12% of the stock is owned by institutional investors.

Acushnet Stock Performance

Shares of GOLF stock opened at $99.98 on Friday. Acushnet has a 1 year low of $55.31 and a 1 year high of $104.81. The stock has a market cap of $5.86 billion, a PE ratio of 27.32 and a beta of 0.89. The stock has a fifty day moving average price of $90.96 and a 200 day moving average price of $83.16. 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 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.