Acushnet (NYSE:GOLF) Price Target Raised to $90.00 at Morgan Stanley

Acushnet (NYSE:GOLF) had its price target hoisted by equities research analysts at Morgan Stanley from $80.00 to $90.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential downside of 3.49% from the company’s current price.

Several other research firms also recently weighed in on GOLF. KeyCorp increased their price target on shares of Acushnet from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Truist Financial lifted their price objective on Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Roth Capital restated a “neutral” rating and set a $80.00 target price on shares of Acushnet in a research note on Thursday, November 6th. JPMorgan Chase & Co. lifted their price target on shares of Acushnet from $67.00 to $74.00 and gave the company an “underweight” rating in a report on Monday, December 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Acushnet in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Acushnet presently has an average rating of “Hold” and a consensus price target of $79.83.

Acushnet Stock Performance

GOLF traded up $1.90 during mid-day trading on Thursday, reaching $93.25. 20,117 shares of the company traded hands, compared to its average volume of 390,837. The stock has a market capitalization of $5.47 billion, a P/E ratio of 25.48 and a beta of 0.88. Acushnet has a 52-week low of $55.31 and a 52-week high of $93.53. The company has a quick ratio of 1.30, a current ratio of 2.42 and a debt-to-equity ratio of 1.03. The company’s fifty day moving average price is $82.97 and its 200-day moving average price is $79.83.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.81 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 firm had revenue of $657.66 million for the quarter, compared to analysts’ expectations of $632.76 million. During the same quarter last year, the company posted $0.89 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts expect that Acushnet will post 3.06 EPS for the current year.

Insider Activity at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $84.66, for a total transaction of $1,693,200.00. Following the sale, the insider owned 76,006 shares of the company’s stock, valued at $6,434,667.96. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Eugene Maher sold 26,939 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $79.33, for a total transaction of $2,137,070.87. Following the transaction, the chief executive officer owned 852,092 shares of the company’s stock, valued at $67,596,458.36. This trade represents a 3.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 71,460 shares of company stock valued at $5,786,311 in the last 90 days. 53.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOLF. Royal Bank of Canada lifted its holdings in Acushnet by 6.6% during the 1st quarter. Royal Bank of Canada now owns 88,703 shares of the company’s stock valued at $6,090,000 after buying an additional 5,510 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Acushnet by 2.5% during the first quarter. AQR Capital Management LLC now owns 19,498 shares of the company’s stock worth $1,339,000 after acquiring an additional 475 shares during the period. Integrated Wealth Concepts LLC raised its stake in shares of Acushnet by 13.5% during the first quarter. Integrated Wealth Concepts LLC now owns 4,603 shares of the company’s stock valued at $316,000 after acquiring an additional 548 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Acushnet by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,560 shares of the company’s stock valued at $1,137,000 after purchasing an additional 460 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Acushnet by 39.0% during the first quarter. Goldman Sachs Group Inc. now owns 249,807 shares of the company’s stock valued at $17,152,000 after buying an additional 70,095 shares during the period. Hedge funds and other institutional investors own 53.12% of the company’s stock.

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.