StockNews.com Downgrades Acushnet (NYSE:GOLF) to Hold

Acushnet (NYSE:GOLF) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

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

Acushnet Trading Down 0.3 %

Shares of GOLF opened at $68.40 on Friday. Acushnet has a twelve month low of $58.54 and a twelve month high of $76.65. The stock has a market capitalization of $4.10 billion, a P/E ratio of 23.27 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The firm has a fifty day simple moving average of $68.51 and a two-hundred day simple moving average of $67.59.

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

Institutional Trading of Acushnet

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its holdings in shares of Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after buying an additional 176 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Acushnet during the fourth quarter worth $31,000. Prospera Private Wealth LLC bought a new stake in shares of Acushnet during the third quarter worth $41,000. Lazard Asset Management LLC purchased a new stake in shares of Acushnet during the fourth quarter valued at $51,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Acushnet by 39.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company’s stock worth $58,000 after purchasing an additional 232 shares during the last quarter. 53.12% 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.