Acushnet (NYSE:GOLF) Stock Rating Lowered by Zacks Research

Acushnet (NYSE:GOLF) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

GOLF has been the subject of several other reports. Compass Point lowered Acushnet from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. Truist Financial upped their price target on Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. KeyCorp upped their price target on Acushnet from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Finally, Morgan Stanley increased their target price on Acushnet from $63.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Acushnet currently has a consensus rating of “Hold” and a consensus price target of $73.33.

Acushnet Stock Performance

NYSE GOLF opened at $79.5520 on Thursday. The company has a market capitalization of $4.67 billion, a PE ratio of 21.27 and a beta of 0.84. The company has a current ratio of 2.25, a quick ratio of 1.21 and a debt-to-equity ratio of 1.13. The business’s 50-day moving average price is $77.21 and its 200 day moving average price is $70.08. Acushnet has a twelve month low of $55.31 and a twelve month high of $84.40.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.08). The firm had revenue of $720.48 million for the quarter, compared to analyst estimates of $713.70 million. Acushnet had a return on equity of 28.05% and a net margin of 9.24%.The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 earnings per share. On average, research analysts predict that Acushnet will post 3.06 earnings per share for the current year.

Insider Buying and Selling

In other Acushnet news, Director Holdings Corp. Misto sold 953,406 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the completion of the sale, the director owned 29,523,653 shares in the company, valued at $1,935,570,690.68. This trade represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mary Louise Bohn sold 13,190 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $78.85, for a total value of $1,040,031.50. Following the sale, the insider owned 191,786 shares of the company’s stock, valued at approximately $15,122,326.10. This trade represents a 6.43% decrease in their position. The disclosure for this sale can be found here. 53.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Acushnet

Hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio acquired a new stake in Acushnet during the 4th quarter valued at approximately $31,000. EverSource Wealth Advisors LLC lifted its holdings in Acushnet by 149.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after buying an additional 295 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in 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 buying an additional 246 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Acushnet by 78.6% in the 2nd quarter. Bessemer Group Inc. now owns 575 shares of the company’s stock worth $42,000 after purchasing an additional 253 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of Acushnet in the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

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.