Acushnet (NYSE:GOLF) Raised to “Buy” at Compass Point

Acushnet (NYSE:GOLF) was upgraded by stock analysts at Compass Point from a “neutral” rating to a “buy” rating in a report released on Tuesday, Marketbeat reports. The brokerage presently has a $80.00 target price on the stock, up from their previous target price of $77.00. Compass Point’s price target points to a potential upside of 20.84% from the stock’s current price.

GOLF has been the subject of a number of other research reports. JPMorgan Chase & Co. downgraded Acushnet from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. Truist Financial increased their price target on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. KeyCorp lowered their price target on Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, StockNews.com upgraded Acushnet from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Acushnet has an average rating of “Hold” and a consensus price target of $72.80.

Acushnet Stock Up 2.1 %

GOLF stock opened at $66.21 on Tuesday. Acushnet has a fifty-two week low of $58.54 and a fifty-two week high of $76.65. The stock’s 50 day simple moving average is $68.70 and its 200 day simple moving average is $67.58. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The company has a market cap of $3.97 billion, a P/E ratio of 22.52 and a beta of 0.79.

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

Institutional Investors Weigh In On Acushnet

A number of large investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in Acushnet in the fourth quarter worth $62,713,000. Jane Street Group LLC increased its holdings in shares of Acushnet by 702.1% in the 3rd quarter. Jane Street Group LLC now owns 508,705 shares of the company’s stock worth $32,430,000 after purchasing an additional 445,281 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in Acushnet during the 4th quarter valued at about $28,641,000. Norges Bank bought a new stake in Acushnet in the 4th quarter worth approximately $14,825,000. Finally, Point72 Asset Management L.P. lifted its holdings in Acushnet by 258.9% in the third quarter. Point72 Asset Management L.P. now owns 266,200 shares of the company’s stock valued at $16,970,000 after acquiring an additional 192,034 shares during the period. 53.12% of the stock is currently owned by 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.