Acushnet (NYSE:GOLF) Cut to “Hold” at StockNews.com

Acushnet (NYSE:GOLFGet Rating) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other research analysts have also issued reports on the stock. Tigress Financial initiated coverage on shares of Acushnet in a report on Friday, September 16th. They issued a “neutral” rating and a $50.00 target price on the stock. Truist Financial upped their target price on shares of Acushnet from $44.00 to $50.00 and gave the company a “hold” rating in a report on Friday, August 5th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Acushnet has a consensus rating of “Hold” and a consensus price target of $53.17.

Acushnet Price Performance

Shares of NYSE GOLF opened at $48.20 on Wednesday. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 22.21 and a beta of 0.76. Acushnet has a 52 week low of $37.46 and a 52 week high of $57.87. The company’s 50-day moving average price is $49.04 and its 200 day moving average price is $44.23. The company has a current ratio of 1.95, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Acushnet by 0.8% in the first quarter. Vanguard Group Inc. now owns 3,126,762 shares of the company’s stock valued at $125,883,000 after acquiring an additional 24,312 shares in the last quarter. JPMorgan Chase & Co. grew its position 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. Dimensional Fund Advisors LP grew its position in shares of Acushnet by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,530,671 shares of the company’s stock worth $61,630,000 after buying an additional 64,464 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Acushnet by 8.8% during the second quarter. Victory Capital Management Inc. now owns 1,437,750 shares of the company’s stock worth $59,925,000 after buying an additional 116,287 shares in the last quarter. Finally, Macquarie Group Ltd. grew its position 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. Hedge funds and other institutional investors 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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