Acushnet (NYSE:GOLF) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Acushnet from “hold” to “buy,” though the broader analyst consensus remains “Hold,” with an average price target of $99.17.
• Acushnet reported stronger-than-expected quarterly results, including EPS of $2.08 versus $1.63 expected and revenue of $819.95 million, up 13.8% year over year.
• The stock opened at $89.76, below its 50-day moving average of $105.26; insiders recently sold shares, while institutional investors and hedge funds own roughly 53% of the company.

Acushnet (NYSE:GOLF - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

GOLF has been the topic of several other reports. Weiss Ratings upgraded Acushnet from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday. JPMorgan Chase & Co. upped their target price on Acushnet from $96.00 to $118.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. Roth Capital reissued a "neutral" rating and set a $95.00 price target on shares of Acushnet in a research report on Friday, August 7th. Finally, Truist Financial raised their price target on Acushnet from $95.00 to $97.00 and gave the company a "hold" rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Acushnet has a consensus rating of "Hold" and an average price target of $99.17.

Acushnet Price Performance

Acushnet stock opened at $89.76 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.55 and a quick ratio of 1.48. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 24.46 and a beta of 0.81. The firm has a 50-day moving average of $105.26 and a two-hundred day moving average of $98.47. Acushnet has a 1 year low of $73.09 and a 1 year high of $119.65.

Acushnet (NYSE:GOLF - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.45. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The business had revenue of $819.95 million for the quarter, compared to analyst estimates of $788.24 million. During the same period last year, the company posted $1.25 earnings per share. The company's quarterly revenue was up 13.8% compared to the same quarter last year. On average, research analysts forecast that Acushnet will post 3.99 earnings per share for the current year.

Insider Activity at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 15,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the sale, the insider owned 70,512 shares of the company's stock, valued at approximately $6,434,925.12. This trade represents a 17.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas N. Mohamed sold 529 shares of Acushnet stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total value of $50,255.00. Following the completion of the transaction, the insider owned 2,868 shares in the company, valued at $272,460. This represents a 15.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 53.30% of the company's stock.

Institutional Investors Weigh In On Acushnet

A number of hedge funds have recently made changes to their positions in the stock. Millstone Evans Group LLC grew its stake in Acushnet by 170.2% in the first quarter. Millstone Evans Group LLC now owns 281 shares of the company's stock valued at $26,000 after purchasing an additional 177 shares during the last quarter. Global Retirement Partners LLC bought a new position in Acushnet in the second quarter worth about $36,000. Brown Brothers Harriman & Co. lifted its position in shares of Acushnet by 389.6% during the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company's stock valued at $26,000 after buying an additional 261 shares during the last quarter. Kelleher Financial Advisors purchased a new stake in shares of Acushnet during the second quarter valued at about $42,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Acushnet by 149.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company's stock valued at $36,000 after buying an additional 295 shares in the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Company Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company's portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet's product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.

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