Acushnet Holdings Corp (NYSE:GOLF) shares hit a new 52-week high during trading on Thursday . The company traded as high as $33.35 and last traded at $33.35, with a volume of 6717 shares trading hands. The stock had previously closed at $32.86.
A number of brokerages have recently commented on GOLF. Compass Point raised Acushnet from a “neutral” rating to a “buy” rating in a report on Thursday, January 2nd. Imperial Capital raised their price target on Acushnet from $24.00 to $27.00 and gave the company an “inline” rating in a report on Friday, November 1st. Zacks Investment Research lowered Acushnet from a “buy” rating to a “hold” rating and set a $36.00 price target on the stock. in a report on Wednesday, January 1st. Wells Fargo & Co raised their price target on Acushnet from $25.00 to $28.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group lowered Acushnet from a “buy” rating to a “hold” rating and set a $34.00 price target on the stock. in a report on Monday, January 6th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $28.72.
The business has a fifty day moving average of $31.85 and a 200-day moving average of $28.26. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 3.86 and a beta of 1.01. 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 released its earnings results on Thursday, October 31st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The firm had revenue of $417.20 million for the quarter, compared to analyst estimates of $398.32 million. Acushnet had a return on equity of 12.07% and a net margin of 6.92%. Acushnet’s revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. As a group, research analysts anticipate that Acushnet Holdings Corp will post 1.59 EPS for the current year.
In related news, insider Christopher Aaron Lindner sold 10,436 shares of Acushnet stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $29.68, for a total transaction of $309,740.48. Following the transaction, the insider now directly owns 79,944 shares of the company’s stock, valued at $2,372,737.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 53.90% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of GOLF. Amundi Pioneer Asset Management Inc. increased its stake in Acushnet by 80.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 467,827 shares of the company’s stock worth $10,826,000 after purchasing an additional 208,527 shares in the last quarter. Millennium Management LLC increased its stake in Acushnet by 362.6% in the 3rd quarter. Millennium Management LLC now owns 200,446 shares of the company’s stock worth $5,291,000 after purchasing an additional 157,119 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Acushnet in the 2nd quarter worth about $3,257,000. Northern Trust Corp increased its stake in Acushnet by 21.1% in the 2nd quarter. Northern Trust Corp now owns 689,297 shares of the company’s stock worth $18,102,000 after purchasing an additional 120,224 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Acushnet by 131.6% in the 3rd quarter. First Trust Advisors LP now owns 136,437 shares of the company’s stock worth $3,602,000 after purchasing an additional 77,523 shares in the last quarter. 48.66% of the stock is currently owned by hedge funds and other institutional investors.
Acushnet Company Profile (NYSE:GOLF)
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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