Acushnet (NYSE:GOLF) Stock Rating Upgraded by JPMorgan Chase & Co.

Acushnet (NYSE:GOLF) was upgraded by investment analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report issued on Friday, MarketBeat reports. The brokerage presently has a $96.00 target price on the stock, up from their previous target price of $74.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 1.89% from the stock’s current price.

Several other research analysts have also recently issued reports on GOLF. Weiss Ratings reiterated a “buy (b)” rating on shares of Acushnet in a report on Wednesday. Morgan Stanley upped their target price on Acushnet from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday. Roth Mkm reaffirmed a “neutral” rating and set a $80.00 price target on shares of Acushnet in a research note on Thursday, November 6th. Zacks Research raised Acushnet from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. Finally, Truist Financial upped their price objective on Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Acushnet currently has a consensus rating of “Hold” and an average target price of $84.33.

Acushnet Trading Up 1.3%

NYSE GOLF opened at $94.22 on Friday. Acushnet has a one year low of $55.31 and a one year high of $95.64. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.30 and a current ratio of 2.42. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 25.74 and a beta of 0.88. The company’s 50 day moving average price is $84.72 and its 200 day moving average price is $80.67.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Acushnet had a return on equity of 27.50% and a net margin of 8.80%.The business had revenue of $657.66 million for the quarter, compared to analyst estimates of $632.76 million. During the same quarter last year, the firm posted $0.89 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts predict that Acushnet will post 3.06 EPS for the current year.

Insiders Place Their Bets

In other news, CEO David Eugene Maher sold 26,939 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $79.33, for a total transaction of $2,137,070.87. Following the sale, the chief executive officer directly owned 852,092 shares of the company’s stock, valued at $67,596,458.36. The trade was a 3.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $84.66, for a total value of $1,693,200.00. Following the sale, the insider directly owned 76,006 shares of the company’s stock, valued at approximately $6,434,667.96. This represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 71,460 shares of company stock worth $5,786,311 over the last ninety days. 53.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in shares of Acushnet by 2.0% during the third quarter. PNC Financial Services Group Inc. now owns 7,046 shares of the company’s stock valued at $553,000 after acquiring an additional 140 shares during the period. GAMMA Investing LLC increased its position in shares of Acushnet by 8.4% during the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock worth $149,000 after purchasing an additional 144 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its position in shares of Acushnet by 0.3% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 46,246 shares of the company’s stock worth $3,630,000 after purchasing an additional 148 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Acushnet by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 14,038 shares of the company’s stock valued at $1,120,000 after purchasing an additional 167 shares during the last quarter. Finally, Allworth Financial LP boosted its position in Acushnet by 57.3% in the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after buying an additional 184 shares in the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Acushnet Company Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.