KeyCorp Reaffirms “Overweight” Rating for Acushnet (NYSE:GOLF)

Acushnet (NYSE:GOLF)‘s stock had its “overweight” rating restated by research analysts at KeyCorp in a research note issued on Friday, MarketBeat reports. They presently have a $80.00 price objective on the stock, up from their prior price objective of $75.00. KeyCorp’s target price would suggest a potential upside of 9.92% from the company’s previous close.

GOLF has been the subject of several other reports. Wall Street Zen cut Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Truist Financial boosted their target price on Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Finally, Compass Point cut Acushnet from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $80.00 to $71.00 in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $71.00.

Acushnet Price Performance

Shares of NYSE GOLF opened at $72.78 on Friday. The stock has a market cap of $4.28 billion, a PE ratio of 20.22 and a beta of 0.84. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $76.65. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.21 and a current ratio of 2.21. The stock has a fifty day moving average of $69.29 and a 200-day moving average of $67.89.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.30. The company had revenue of $703.37 million during the quarter, compared to analysts’ expectations of $697.82 million. Acushnet had a return on equity of 26.81% and a net margin of 9.21%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.35 earnings per share. Equities research analysts anticipate that Acushnet will post 3.06 earnings per share for the current year.

Institutional Investors Weigh In On Acushnet

Several hedge funds have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB lifted its stake in shares of Acushnet by 15.4% in the 4th quarter. Handelsbanken Fonder AB now owns 10,500 shares of the company’s stock valued at $746,000 after acquiring an additional 1,400 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Acushnet by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 271,995 shares of the company’s stock valued at $19,333,000 after acquiring an additional 18,036 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Acushnet by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 361,744 shares of the company’s stock valued at $25,713,000 after purchasing an additional 2,793 shares during the last quarter. Atria Investments Inc raised its position in Acushnet by 35.0% during the 4th quarter. Atria Investments Inc now owns 31,890 shares of the company’s stock valued at $2,267,000 after purchasing an additional 8,268 shares during the last quarter. Finally, M&T Bank Corp raised its position in Acushnet by 5.0% during the 4th quarter. M&T Bank Corp now owns 28,858 shares of the company’s stock valued at $2,051,000 after purchasing an additional 1,370 shares during the last quarter. Institutional investors 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.