Acushnet (NYSE:GOLF) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Acushnet (NYSE:GOLF) from a strong-buy rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

Several other research analysts have also recently weighed in on GOLF. Roth Mkm reiterated a “neutral” rating and set a $80.00 price target on shares of Acushnet in a research note on Thursday, November 6th. Morgan Stanley increased their price objective on Acushnet from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 22nd. KeyCorp reaffirmed a “sector weight” rating on shares of Acushnet in a report on Friday, January 16th. JPMorgan Chase & Co. upgraded Acushnet from an “underweight” rating to a “neutral” rating and raised their target price for the company from $74.00 to $96.00 in a research report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Acushnet presently has an average rating of “Hold” and a consensus price target of $87.83.

Acushnet Trading Down 0.1%

Shares of GOLF stock opened at $99.98 on Tuesday. The company’s fifty day simple moving average is $90.96 and its two-hundred day simple moving average is $83.16. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.42 and a quick ratio of 1.30. Acushnet has a 1 year low of $55.31 and a 1 year high of $104.81. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 27.32 and a beta of 0.89.

Insiders Place Their Bets

In other news, insider Steven Francis Pelisek sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $84.66, for a total transaction of $1,693,200.00. Following the completion of the sale, the insider directly owned 76,006 shares of the company’s stock, valued at $6,434,667.96. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 53.60% of the company’s stock.

Institutional Investors Weigh In On Acushnet

Several hedge funds have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. increased its stake in Acushnet by 389.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after purchasing an additional 261 shares in the last quarter. Kelleher Financial Advisors acquired a new stake in Acushnet in the 3rd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC lifted its stake in Acushnet by 149.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after acquiring an additional 295 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Acushnet by 83.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock worth $39,000 after acquiring an additional 246 shares in the last quarter. Finally, Allworth Financial LP lifted its position in Acushnet by 57.3% during the 3rd quarter. Allworth Financial LP now owns 505 shares of the company’s stock worth $40,000 after buying an additional 184 shares in the last quarter. Institutional investors own 53.12% of the company’s stock.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.