Acushnet (NYSE:GOLF) Rating Increased to Hold at Stephens

Key Points

• Stephens upgraded Acushnet to “Hold”, joining a broader analyst consensus of Hold; eight analysts rate the stock Hold and one rates it Buy, with an average price target of $97.57.
• Acushnet reported stronger-than-expected quarterly results, with EPS of $2.08 versus the $1.63 consensus estimate and revenue of $819.95 million, up 13.8% year over year.
• Shares opened at $82.88, well below their 52-week high of $119.65, while institutional investors own 53.12% of the company.

Acushnet (NYSE:GOLF - Get Free Report) was upgraded by research analysts at Stephens to a "hold" rating in a research report issued on Tuesday, Zacks reports.

GOLF has been the subject of a number of other reports. Truist Financial increased their target price on shares of Acushnet from $95.00 to $97.00 and gave the stock a "hold" rating in a report on Tuesday, May 19th. Weiss Ratings raised Acushnet from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Roth Capital restated a "neutral" rating and issued a $95.00 target price on shares of Acushnet in a research note on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Acushnet from $96.00 to $118.00 and gave the stock a "neutral" rating in a research note on Friday, June 26th. Finally, Wall Street Zen raised Acushnet from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $97.57.

Acushnet Price Performance

GOLF opened at $82.88 on Tuesday. 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's 50 day simple moving average is $95.63 and its 200 day simple moving average is $96.41. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 22.58 and a beta of 0.80. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.45. The firm had revenue of $819.95 million for the quarter, compared to analysts' expectations of $788.24 million. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The business's revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business earned $1.25 earnings per share. As a group, analysts predict that Acushnet will post 4.02 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nykredit A S purchased a new stake in Acushnet in the second quarter worth approximately $164,000. Corient Private Wealth LP lifted its holdings in shares of Acushnet by 598.9% during the 2nd quarter. Corient Private Wealth LP now owns 41,237 shares of the company's stock valued at $4,888,000 after buying an additional 35,337 shares during the period. HighTower Advisors LLC boosted its stake in shares of Acushnet by 42.8% in the 2nd quarter. HighTower Advisors LLC now owns 9,864 shares of the company's stock worth $1,169,000 after buying an additional 2,957 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Acushnet in the 2nd quarter worth $225,000. Finally, Empowered Funds LLC bought a new stake in shares of Acushnet in the second quarter worth $353,000. Institutional investors own 53.12% of the company's stock.

Acushnet Company Profile

Acushnet Holdings Corp. develops, manufactures and distributes golf equipment, apparel and accessories. The company's portfolio includes golf balls, clubs, wedges, putters, golf gloves, footwear, clothing, bags and other products serving recreational and professional golfers.

Acushnet's principal brands include Titleist, known for golf balls and equipment; FootJoy, which offers golf footwear, gloves and apparel; and Scotty Cameron, which designs premium putters. The company also markets products under brands including Vokey Design, KJUS and Linksoul.

Founded in 1910, Acushnet is headquartered in Fairhaven, Massachusetts, and serves customers through a global network of retailers, golf courses, distributors and direct-to-consumer channels.

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