Acushnet (NYSE:GOLF) Shares Gap Down to $67.14

Acushnet Holdings Corp. (NYSE:GOLF)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $67.14, but opened at $64.14. Acushnet shares last traded at $60.71, with a volume of 5,906 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Truist Financial increased their target price on shares of Acushnet from $62.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. upped their price target on shares of Acushnet from $62.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $66.38.

Acushnet Stock Up 1.4 %

The company has a quick ratio of 1.46, a current ratio of 2.69 and a debt-to-equity ratio of 0.91. The firm has a market cap of $4.30 billion, a P/E ratio of 23.66 and a beta of 0.85. The business has a fifty day moving average of $65.52 and a 200 day moving average of $64.80.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.19. The business had revenue of $707.55 million for the quarter, compared to the consensus estimate of $692.41 million. Acushnet had a net margin of 8.03% and a return on equity of 20.65%. On average, equities research analysts predict that Acushnet Holdings Corp. will post 3.12 EPS for the current year.

Insider Buying and Selling

In other Acushnet news, Director Holdings Corp. Fila sold 587,520 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $63.83, for a total value of $37,501,401.60. Following the completion of the transaction, the director now directly owns 32,522,966 shares of the company’s stock, valued at $2,075,940,919.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 54.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. increased its position in shares of Acushnet by 18.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 5,075 shares of the company’s stock valued at $321,000 after acquiring an additional 798 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Acushnet during the fourth quarter worth $9,318,000. Wakefield Asset Management LLLP acquired a new position in Acushnet during the fourth quarter worth $893,000. Cerity Partners LLC bought a new stake in Acushnet during the fourth quarter worth $572,000. Finally, Strs Ohio acquired a new stake in Acushnet in the fourth quarter valued at $890,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

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.