Acushnet (NYSE:GOLF) Downgraded by Compass Point to "Neutral"

Acushnet (NYSE:GOLF - Get Free Report) was downgraded by equities research analysts at Compass Point from a "buy" rating to a "neutral" rating in a note issued to investors on Monday, MarketBeat Ratings reports. They currently have a $71.00 target price on the stock. Compass Point's target price points to a potential upside of 6.72% from the stock's previous close.

GOLF has been the subject of several other reports. StockNews.com lowered shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Truist Financial lowered their price target on shares of Acushnet from $68.00 to $64.00 and set a "hold" rating for the company in a report on Monday, April 14th. KeyCorp cut their price target on shares of Acushnet from $77.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. lowered 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Acushnet currently has a consensus rating of "Hold" and a consensus price target of $68.80.

Acushnet Trading Up 1.1 %

GOLF opened at $66.53 on Monday. The company has a fifty day moving average price of $64.24 and a two-hundred day moving average price of $67.39. The company has a market cap of $3.99 billion, a P/E ratio of 22.63 and a beta of 0.90. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. Acushnet has a 1-year low of $55.31 and a 1-year high of $76.65.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data 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 business 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%. Analysts predict that Acushnet will post 3.06 EPS for the current fiscal year.

Insider Transactions at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the completion of the sale, the insider now directly owns 96,006 shares in the company, valued at approximately $6,802,985.16. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 54.60% of the company's stock.

Hedge Funds Weigh In On Acushnet

Several large investors have recently bought and sold shares of the business. Blue Trust Inc. raised its stake in shares of Acushnet by 100.6% during the fourth quarter. Blue Trust Inc. now owns 351 shares of the company's stock worth $25,000 after purchasing an additional 176 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Acushnet during the fourth quarter valued at approximately $31,000. KBC Group NV acquired a new stake in Acushnet in the 1st quarter worth about $44,000. GAMMA Investing LLC boosted its position in shares of Acushnet by 96.1% in the first quarter. GAMMA Investing LLC now owns 651 shares of the company's stock worth $45,000 after acquiring an additional 319 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Acushnet in the 4th quarter worth $51,000. 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.

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