KeyCorp Issues Positive Forecast for Acushnet (NYSE:GOLF) Stock Price

Acushnet (NYSE:GOLF) had its price target upped by KeyCorp from $85.00 to $90.00 in a report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

GOLF has been the topic of several other research reports. Morgan Stanley raised their price objective on Acushnet from $63.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Zacks Research lowered shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Acushnet in a research report on Wednesday, October 8th. Finally, Truist Financial raised their price objective on shares of Acushnet from $65.00 to $74.00 and gave the stock a “hold” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $76.50.

Acushnet Stock Up 2.8%

Shares of NYSE:GOLF traded up $2.15 during trading on Thursday, hitting $79.75. The company’s stock had a trading volume of 235,923 shares, compared to its average volume of 294,320. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $84.40. The company has a market capitalization of $4.68 billion, a PE ratio of 21.20 and a beta of 0.90. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 2.42. The business has a 50 day moving average price of $77.88 and a two-hundred day moving average price of $75.11.

Acushnet (NYSE:GOLF) last announced 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). The company had revenue of $657.66 million for the quarter, compared to analyst estimates of $632.76 million. Acushnet had a return on equity of 27.50% and a net margin of 8.80%.The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 earnings per share. Acushnet has set its FY 2025 guidance at EPS. As a group, research analysts expect that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $0.235 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.94 dividend on an annualized basis and a yield of 1.2%. Acushnet’s dividend payout ratio (DPR) is 25.68%.

Insider Activity

In related news, insider Mary Louise Bohn sold 13,190 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $78.85, for a total value of $1,040,031.50. Following the completion of the transaction, the insider directly owned 191,786 shares of the company’s stock, valued at $15,122,326.10. This trade represents a 6.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 53.60% of the company’s stock.

Hedge Funds Weigh In On Acushnet

Several hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted 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 purchasing an additional 295 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Acushnet by 83.7% during the second quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock worth $39,000 after buying an additional 246 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Acushnet by 78.6% in the second quarter. Bessemer Group Inc. now owns 575 shares of the company’s stock valued at $42,000 after acquiring an additional 253 shares in the last quarter. GAMMA Investing LLC increased its position 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 purchasing an additional 319 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in Acushnet by 197.5% in the 3rd quarter. Federated Hermes Inc. now owns 598 shares of the company’s stock valued at $47,000 after purchasing an additional 397 shares during the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

About Acushnet

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.