Acushnet Holdings Corp. [NYSE: GOLF] gained 0.95% or 0.45 points to close at $47.61 with a heavy trading volume of 519107 shares. The company report on November 3, 2022 that Acushnet Holdings Corp. Announces Third Quarter 2022 Financial Results.
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News Release Available on www.AcushnetHoldingsCorp.com.
Acushnet Holdings Corp. (NYSE:GOLF) (“Acushnet”) published its third quarter 2022 financial results on November 3, 2022. The results are available via the Acushnet Investor Relations (http://www.acushnetholdingscorp.com/ir) and the U.S. Securities and Exchange Commission (https://www.sec.gov/cgi-bin/browse-edgar?company=acushnet&owner=exclude&action=getcompany) websites.
It opened the trading session at $46.44, the shares rose to $48.50 and dropped to $46.44, the range by which the price of stock traded the whole day. The daily chart for GOLF points out that the company has recorded 1.23% gains over the past six months. However, it is still -27.1% lower than its most recent low trading price.
If we look at the average trading volume of 304.09K shares, GOLF reached to a volume of 519107 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Acushnet Holdings Corp. [GOLF]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GOLF shares is $49.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GOLF stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
ROTH Capital have made an estimate for Acushnet Holdings Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 18, 2022. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $56 to $48. The new note on the price target was released on April 25, 2022, representing the official price target for Acushnet Holdings Corp. stock. Previously, the target price had yet another raise from $30 to $45, while JP Morgan kept a Neutral rating on GOLF stock.
The Average True Range (ATR) for Acushnet Holdings Corp. is set at 1.25, with the Price to Sales ratio for GOLF stock in the period of the last 12 months amounting to 1.48. The Price to Book ratio for the last quarter was 3.38, with the Price to Cash per share for the same quarter was set at 1.56.
Trading performance analysis for GOLF stock
Acushnet Holdings Corp. [GOLF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.88. With this latest performance, GOLF shares gained by 0.55% in over the last four-week period, additionally plugging by 1.23% over the last 6 months – not to mention a drop of -7.37% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GOLF stock in for the last two-week period is set at 66.05, with the RSI for the last a single of trading hit 75.19, and the three-weeks RSI is set at 60.49 for Acushnet Holdings Corp. [GOLF]. The present Moving Average for the last 50 days of trading for this stock 44.98, while it was recorded at 45.28 for the last single week of trading, and 44.73 for the last 200 days.
Acushnet Holdings Corp. [GOLF]: A deeper dive into fundamental analysis
Acushnet Holdings Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 2.20.
Acushnet Holdings Corp. [GOLF]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GOLF. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Acushnet Holdings Corp. go to 5.00%.
An analysis of insider ownership at Acushnet Holdings Corp. [GOLF]
There are presently around $1,655 million, or 51.40% of GOLF stock, in the hands of institutional investors. The top three institutional holders of GOLF stocks are: KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC with ownership of 7,928,651, which is approximately -0.537% of the company’s market cap and around 1.70% of the total institutional ownership; VANGUARD GROUP INC, holding 3,091,124 shares of the stock with an approximate value of $147.17 million in GOLF stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $124.5 million in GOLF stock with ownership of nearly 1.059% of the company’s market capitalization.
Positions in Acushnet Holdings Corp. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 93 institutional holders increased their position in Acushnet Holdings Corp. [NYSE:GOLF] by around 1,371,022 shares. Additionally, 91 investors decreased positions by around 1,727,516 shares, while 38 investors held positions by with 31,661,656 shares. The mentioned changes placed institutional holdings at 34,760,194 shares, according to the latest SEC report filing. GOLF stock had 33 new institutional investments in for a total of 419,139 shares, while 27 institutional investors sold positions of 302,365 shares during the same period.