Acushnet (NYSE:GOLF) Price Target Lowered to $70.00 at KeyCorp

Acushnet (NYSE:GOLF - Free Report) had its price target trimmed by KeyCorp from $77.00 to $70.00 in a report published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock. KeyCorp also issued estimates for Acushnet's Q1 2025 earnings at $1.33 EPS, Q2 2025 earnings at $1.43 EPS, Q3 2025 earnings at $1.11 EPS, Q4 2025 earnings at ($0.12) EPS, FY2025 earnings at $3.79 EPS and FY2026 earnings at $4.25 EPS.

Several other research firms have also recently weighed in on GOLF. Truist Financial lowered their price target on shares of Acushnet from $68.00 to $64.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Compass Point upgraded shares of Acushnet from a "neutral" rating to a "buy" rating and upped their price target for the company from $77.00 to $80.00 in a research note on Tuesday, March 4th. StockNews.com cut shares of Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Finally, JPMorgan Chase & Co. lowered shares of Acushnet from a "neutral" rating to an "underweight" rating and decreased their target price for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $70.60.

Acushnet Stock Up 2.5 %

NYSE GOLF traded up $1.48 on Thursday, reaching $61.06. The company had a trading volume of 167,280 shares, compared to its average volume of 369,178. The company's fifty day moving average is $64.70 and its 200-day moving average is $67.36. Acushnet has a 1-year low of $55.31 and a 1-year high of $76.65. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 20.75 and a beta of 0.84. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10.

Acushnet (NYSE:GOLF - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $445.17 billion for the quarter, compared to analyst estimates of $454.83 million. On average, research analysts forecast that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.235 dividend. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.54%. Acushnet's payout ratio is presently 28.23%.

Insider Activity at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $70.86, for a total value of $1,417,200.00. Following the sale, the insider now directly owns 96,006 shares in the company, valued at approximately $6,802,985.16. This trade represents a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 54.60% of the stock is currently owned by insiders.

Institutional Trading of Acushnet

A number of hedge funds have recently added to or reduced their stakes in GOLF. Praxis Investment Management Inc. bought a new position in shares of Acushnet in the 1st quarter valued at $290,000. State of Alaska Department of Revenue bought a new stake in shares of Acushnet during the first quarter worth about $1,040,000. Azzad Asset Management Inc. ADV increased its stake in shares of Acushnet by 24.3% in the first quarter. Azzad Asset Management Inc. ADV now owns 13,506 shares of the company's stock valued at $927,000 after buying an additional 2,641 shares during the period. SG Americas Securities LLC raised its holdings in Acushnet by 783.2% in the 1st quarter. SG Americas Securities LLC now owns 17,391 shares of the company's stock valued at $1,194,000 after buying an additional 15,422 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Acushnet by 96.1% during the 1st quarter. GAMMA Investing LLC now owns 651 shares of the company's stock worth $45,000 after acquiring an additional 319 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company's stock.

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.