StockNews.com Downgrades Acushnet (NYSE:GOLF) to Hold

Acushnet (NYSE:GOLFGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

A number of other equities analysts also recently weighed in on GOLF. Tigress Financial started coverage on shares of Acushnet in a research note on Friday, September 16th. They issued a “neutral” rating and a $50.00 price target on the stock. Truist Financial increased their target price on shares of Acushnet from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $53.17.

Acushnet Price Performance

Shares of NYSE:GOLF opened at $45.64 on Wednesday. The company’s fifty day moving average is $49.08 and its two-hundred day moving average is $44.27. The company has a quick ratio of 1.10, a current ratio of 1.95 and a debt-to-equity ratio of 0.26. Acushnet has a 12-month low of $37.46 and a 12-month high of $57.87. The company has a market cap of $3.25 billion, a P/E ratio of 21.03 and a beta of 0.76.

Acushnet (NYSE:GOLFGet Rating) last announced its earnings results on Thursday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.19. Acushnet had a net margin of 7.36% and a return on equity of 14.53%. The company had revenue of $658.60 million for the quarter, compared to the consensus estimate of $581.89 million. During the same period in the previous year, the business earned $1.08 EPS. The company’s revenue was up 5.4% on a year-over-year basis. Equities analysts expect that Acushnet will post 2.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GOLF. Invesco Ltd. raised its position in Acushnet by 981.6% in the fourth quarter. Invesco Ltd. now owns 453,413 shares of the company’s stock worth $24,068,000 after purchasing an additional 411,493 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Acushnet by 21.9% during the first quarter. Victory Capital Management Inc. now owns 1,321,463 shares of the company’s stock worth $53,202,000 after buying an additional 237,659 shares in the last quarter. Macquarie Group Ltd. increased its holdings in shares of Acushnet by 21.1% during the second quarter. Macquarie Group Ltd. now owns 1,306,948 shares of the company’s stock worth $54,474,000 after buying an additional 228,162 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Acushnet by 6.1% during the second quarter. JPMorgan Chase & Co. now owns 2,307,902 shares of the company’s stock worth $96,194,000 after buying an additional 133,079 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Acushnet by 53.9% during the first quarter. First Trust Advisors LP now owns 354,722 shares of the company’s stock worth $14,281,000 after buying an additional 124,282 shares in the last quarter. Institutional investors and hedge funds own 49.33% of the company’s stock.

Acushnet Company Profile

(Get Rating)

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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Analyst Recommendations for Acushnet (NYSE:GOLF)

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