Acushnet (GOLF) Upgraded to Buy at Roth Capital

Acushnet (NYSE:GOLF) was upgraded by research analysts at Roth Capital from a “neutral” rating to a “buy” rating in a report issued on Thursday, Marketbeat.com reports. The firm presently has a $28.00 price target on the stock, up from their previous price target of $27.00. Roth Capital’s price objective would indicate a potential upside of 12.04% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Wells Fargo & Co lowered their target price on shares of Acushnet from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Monday, March 4th. KeyCorp lifted their target price on shares of Acushnet from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Zacks Investment Research downgraded shares of Acushnet from a “buy” rating to a “hold” rating in a report on Friday, February 15th. ValuEngine raised shares of Acushnet from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Finally, Compass Point downgraded shares of Acushnet from a “buy” rating to a “neutral” rating and set a $24.91 target price on the stock. in a report on Friday, March 1st. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $25.59.

NYSE GOLF traded up $0.26 during trading on Thursday, reaching $24.99. The company’s stock had a trading volume of 214,911 shares, compared to its average volume of 300,720. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 2.25. The firm has a market cap of $1.87 billion, a PE ratio of 18.93, a P/E/G ratio of 2.40 and a beta of 0.91. Acushnet has a twelve month low of $20.24 and a twelve month high of $27.87.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.11). The business had revenue of $433.70 million during the quarter, compared to analyst estimates of $445.66 million. Acushnet had a net margin of 5.74% and a return on equity of 10.19%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 earnings per share. Research analysts predict that Acushnet will post 1.55 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. boosted its holdings in Acushnet by 29.9% during the fourth quarter. Advisor Group Inc. now owns 1,986 shares of the company’s stock worth $42,000 after buying an additional 457 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Acushnet by 0.8% during the first quarter. Parametric Portfolio Associates LLC now owns 82,825 shares of the company’s stock worth $1,917,000 after buying an additional 688 shares in the last quarter. Raymond James & Associates boosted its holdings in Acushnet by 0.3% during the fourth quarter. Raymond James & Associates now owns 238,268 shares of the company’s stock worth $5,020,000 after buying an additional 752 shares in the last quarter. Stone Ridge Asset Management LLC boosted its holdings in Acushnet by 1.6% during the fourth quarter. Stone Ridge Asset Management LLC now owns 47,382 shares of the company’s stock worth $998,000 after buying an additional 768 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Acushnet by 3.4% during the fourth quarter. California Public Employees Retirement System now owns 38,921 shares of the company’s stock worth $820,000 after buying an additional 1,273 shares in the last quarter. 50.54% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Acushnet (NYSE:GOLF)

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