Acushnet (NYSE:GOLF) Cut to Underweight at JPMorgan Chase & Co.

Acushnet (NYSE:GOLF) was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued to investors on Thursday, MarketBeat reports. They presently have a $64.00 price target on the stock, down from their previous price target of $69.00. JPMorgan Chase & Co.‘s target price suggests a potential downside of 14.07% from the stock’s current price.

Separately, Truist Financial increased their price objective on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a report on Friday, November 8th.

Acushnet Stock Performance

Shares of Acushnet stock opened at $74.48 on Thursday. The firm has a market capitalization of $4.53 billion, a P/E ratio of 25.33 and a beta of 0.88. Acushnet has a 52 week low of $58.54 and a 52 week high of $76.65. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The firm’s 50 day moving average is $72.27 and its two-hundred day moving average is $67.81.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. The business had revenue of $620.50 million during the quarter, compared to the consensus estimate of $620.40 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. Research analysts forecast that Acushnet will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Acushnet news, insider Christopher Aaron Lindner sold 5,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.91, for a total value of $369,550.00. Following the completion of the transaction, the insider now owns 88,710 shares in the company, valued at approximately $6,556,556.10. This represents a 5.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 54.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GOLF. Blue Trust Inc. raised its position in Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after acquiring an additional 176 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new position in shares of Acushnet in the third quarter valued at $40,000. Prospera Private Wealth LLC purchased a new position in shares of Acushnet in the third quarter valued at $41,000. nVerses Capital LLC purchased a new position in shares of Acushnet in the third quarter valued at $57,000. Finally, Quarry LP increased its position in shares of Acushnet by 745.6% in the third quarter. Quarry LP now owns 1,057 shares of the company’s stock valued at $67,000 after buying an additional 932 shares in the last quarter. Hedge funds and other 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.