JPMorgan Chase & Co. Issues Positive Forecast for Acushnet (NYSE:GOLF) Stock Price

Acushnet (NYSE:GOLF) had its price target boosted by analysts at JPMorgan Chase & Co. from $96.00 to $118.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 0.72% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Truist Financial increased their target price on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research report on Tuesday, May 19th. Roth Mkm set a $87.00 price target on Acushnet in a research report on Thursday, May 7th. UBS Group set a $100.00 price target on Acushnet in a research note on Thursday, February 26th. Weiss Ratings lowered Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Acushnet in a research note on Thursday, February 26th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $97.83.

Acushnet Stock Up 3.5%

Shares of GOLF traded up $3.96 during mid-day trading on Friday, hitting $117.16. 110,347 shares of the company’s stock were exchanged, compared to its average volume of 350,608. The firm has a fifty day moving average of $94.38 and a two-hundred day moving average of $93.29. Acushnet has a twelve month low of $72.06 and a twelve month high of $117.99. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 41.15 and a beta of 0.85. The company has a quick ratio of 1.59, a current ratio of 2.87 and a debt-to-equity ratio of 1.36.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). Acushnet had a net margin of 6.54% and a return on equity of 22.95%. The business had revenue of $752.98 million for the quarter, compared to the consensus estimate of $722.48 million. During the same quarter in the prior year, the business posted $1.62 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, sell-side analysts forecast that Acushnet will post 3.82 earnings per share for the current year.

Insider Transactions at Acushnet

In other Acushnet news, insider Nicholas N. Mohamed sold 529 shares of Acushnet stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $50,255.00. Following the sale, the insider directly owned 2,868 shares of the company’s stock, valued at approximately $272,460. The trade was a 15.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Francis Pelisek sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $91.26, for a total value of $1,368,900.00. Following the completion of the sale, the insider owned 70,512 shares in the company, valued at approximately $6,434,925.12. This represents a 17.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 53.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millstone Evans Group LLC lifted its holdings in Acushnet by 170.2% during the 1st quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock valued at $26,000 after purchasing an additional 177 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Acushnet by 389.6% in the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock valued at $26,000 after buying an additional 261 shares in the last quarter. Kelleher Financial Advisors acquired a new stake in shares of Acushnet in the third quarter valued at $28,000. EverSource Wealth Advisors LLC raised its holdings in shares of Acushnet by 149.7% in the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after buying an additional 295 shares during the last quarter. Finally, Allworth Financial LP raised its holdings 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 buying an additional 184 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

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.