StockNews.com Upgrades Acushnet (NYSE:GOLF) to “Buy”

Acushnet (NYSE:GOLF) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other equities research analysts also recently commented on GOLF. KeyCorp lowered their price objective on Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday. Truist Financial lifted their price objective on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. downgraded Acushnet from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Acushnet has an average rating of “Hold” and a consensus price target of $72.00.

Acushnet Stock Performance

NYSE GOLF opened at $64.29 on Friday. Acushnet has a fifty-two week low of $58.54 and a fifty-two week high of $76.65. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 21.87 and a beta of 0.86. The business has a fifty day moving average of $68.95 and a 200-day moving average of $67.59. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $445.17 billion during the quarter, compared to analysts’ expectations of $454.83 million. As a group, analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acushnet

Institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in Acushnet by 6.7% during the third quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock valued at $64,632,000 after acquiring an additional 63,294 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Acushnet in the third quarter worth about $1,443,000. FMR LLC boosted its position in shares of Acushnet by 2.5% in the third quarter. FMR LLC now owns 441,069 shares of the company’s stock worth $28,118,000 after buying an additional 10,762 shares during the period. Tidal Investments LLC purchased a new stake in shares of Acushnet in the third quarter worth about $508,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Acushnet in the third quarter worth about $7,986,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.

About Acushnet

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.