Acushnet (NYSE:GOLF) Price Target Raised to $28.00

Acushnet (NYSE:GOLF) had its price objective hoisted by Wells Fargo & Co from $25.00 to $28.00 in a report issued on Tuesday, AnalystRatings.com reports. They currently have a market perform rating on the stock.

GOLF has been the subject of a number of other reports. Imperial Capital upped their price objective on shares of Acushnet from $24.00 to $27.00 and gave the stock an inline rating in a report on Friday, November 1st. Morgan Stanley set a $28.00 price objective on shares of Acushnet and gave the stock a hold rating in a report on Friday, November 1st. Jefferies Financial Group upped their price objective on shares of Acushnet from $27.00 to $34.00 and gave the stock a buy rating in a report on Thursday, October 31st. SunTrust Banks set a $26.00 price objective on shares of Acushnet and gave the stock a hold rating in a report on Friday, November 1st. Finally, Compass Point cut shares of Acushnet from a neutral rating to a sell rating and upped their price target for the company from $23.00 to $23.50 in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $28.45.

Shares of Acushnet stock traded down $0.16 on Tuesday, hitting $30.60. 201,580 shares of the company traded hands, compared to its average volume of 185,352. The company has a market cap of $2.21 billion, a PE ratio of 23.18, a PEG ratio of 3.75 and a beta of 0.98. Acushnet has a 12-month low of $20.24 and a 12-month high of $31.18. The company has a 50-day moving average price of $27.58 and a 200 day moving average price of $26.13. The company has a quick ratio of 1.06, a current ratio of 1.95 and a debt-to-equity ratio of 0.33.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.10. The firm had revenue of $417.20 million during the quarter, compared to analysts’ expectations of $398.32 million. Acushnet had a net margin of 6.92% and a return on equity of 12.07%. Acushnet’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. Equities research analysts anticipate that Acushnet will post 1.57 EPS for the current year.

In other Acushnet news, insider Christopher Aaron Lindner sold 10,436 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $29.68, for a total transaction of $309,740.48. Following the completion of the sale, the insider now directly owns 79,944 shares in the company, valued at $2,372,737.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 53.90% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in GOLF. Amundi Pioneer Asset Management Inc. raised its position in shares of Acushnet by 80.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 467,827 shares of the company’s stock valued at $10,826,000 after buying an additional 208,527 shares during the last quarter. SG Americas Securities LLC raised its position in Acushnet by 294.8% in the second quarter. SG Americas Securities LLC now owns 32,235 shares of the company’s stock worth $846,000 after purchasing an additional 24,070 shares in the last quarter. Aperio Group LLC acquired a new position in Acushnet in the second quarter worth about $135,000. Janus Henderson Group PLC raised its position in Acushnet by 16.1% in the second quarter. Janus Henderson Group PLC now owns 1,903,825 shares of the company’s stock worth $49,994,000 after purchasing an additional 264,101 shares in the last quarter. Finally, Amica Mutual Insurance Co. acquired a new position in Acushnet in the second quarter worth about $686,000. 48.08% of the stock is owned by institutional investors and hedge funds.

Acushnet Company Profile

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.

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Analyst Recommendations for Acushnet (NYSE:GOLF)

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