Acushnet (NYSE:GOLF) had its target price boosted by KeyCorp from $27.00 to $33.00 in a research report released on Wednesday, Stock Target Advisor reports. KeyCorp currently has an overweight rating on the stock. KeyCorp also issued estimates for Acushnet’s Q4 2019 earnings at $0.24 EPS, FY2019 earnings at $1.60 EPS and FY2020 earnings at $1.70 EPS.
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Other equities research analysts have also recently issued reports about the stock. SunTrust Banks set a $26.00 price target on shares of Acushnet and gave the company a hold rating in a research report on Friday, November 1st. Imperial Capital lifted their price target on shares of Acushnet from $24.00 to $27.00 and gave the company an inline rating in a research report on Friday, November 1st. Zacks Investment Research upgraded shares of Acushnet from a hold rating to a buy rating and set a $33.00 price target for the company in a research report on Tuesday, November 5th. Compass Point cut shares of Acushnet from a neutral rating to a sell rating and lifted their price target for the company from $23.00 to $23.50 in a research report on Tuesday, October 29th. Finally, Wells Fargo & Co lifted their price target on shares of Acushnet from $25.00 to $28.00 and gave the company a market perform rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $28.45.
Shares of GOLF opened at $30.60 on Wednesday. Acushnet has a 1-year low of $20.24 and a 1-year high of $31.18. The stock has a market cap of $2.21 billion, a PE ratio of 23.18, a P/E/G ratio of 3.75 and a beta of 0.98. The firm has a 50-day simple moving average of $27.58 and a two-hundred day simple moving average of $26.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.95 and a quick ratio of 1.06.
Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. Acushnet had a net margin of 6.92% and a return on equity of 12.07%. The business had revenue of $417.20 million during the quarter, compared to analysts’ expectations of $398.32 million. During the same period last year, the business earned $0.09 earnings per share. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, sell-side analysts expect that Acushnet will post 1.57 earnings per share for the current fiscal year.
In related news, insider Christopher Aaron Lindner sold 10,436 shares of Acushnet stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $29.68, for a total value of $309,740.48. Following the completion of the transaction, the insider now owns 79,944 shares in the company, valued at $2,372,737.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 53.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its stake in Acushnet by 3,520.6% in the third quarter. Tower Research Capital LLC TRC now owns 1,231 shares of the company’s stock worth $32,000 after acquiring an additional 1,197 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Acushnet by 38.2% during the 3rd quarter. SG Americas Securities LLC now owns 44,543 shares of the company’s stock worth $1,176,000 after buying an additional 12,308 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Acushnet by 131.6% during the 3rd quarter. First Trust Advisors LP now owns 136,437 shares of the company’s stock worth $3,602,000 after buying an additional 77,523 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Acushnet during the 3rd quarter worth approximately $139,000. Finally, Comerica Bank lifted its position in shares of Acushnet by 37.3% during the 3rd quarter. Comerica Bank now owns 242,008 shares of the company’s stock worth $6,929,000 after buying an additional 65,709 shares during the last quarter. Institutional investors own 48.08% 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.
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