Acushnet (NYSE:GOLF) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Acushnet from “buy” to “hold.” Analysts overall are similarly cautious: one rates the stock Buy and eight rate it Hold, with an average price target of $97.67.
• Acushnet reported quarterly EPS of $0.83, missing the $0.98 consensus estimate, while revenue of $649.23 million slightly exceeded forecasts. Revenue declined 1.3% year over year.
• Institutional investors own 53.12% of Acushnet shares; several investors, including BlackRock, established new positions during the second quarter.

Acushnet (NYSE:GOLF - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

A number of other research analysts also recently issued reports on GOLF. Roth Capital reissued a "neutral" rating and issued a $95.00 price objective on shares of Acushnet in a research note on Friday, August 7th. Weiss Ratings cut Acushnet from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, September 28th. Finally, Stephens cut their price target on shares of Acushnet from $88.00 to $81.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 14th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $97.67.

Acushnet Stock Performance

NYSE:GOLF opened at $80.88 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 company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 22.64 and a beta of 0.77. The business has a 50 day moving average of $83.16 and a 200 day moving average of $94.04. Acushnet has a 1-year low of $76.96 and a 1-year high of $119.65.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.15). The business had revenue of $649.23 million for the quarter, compared to analysts' expectations of $647.99 million. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The business's quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 earnings per share. On average, sell-side analysts predict that Acushnet will post 4.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Acushnet during the 2nd quarter valued at $496,463,000. Neumeier Poma Investment Counsel LLC bought a new stake in shares of Acushnet in the second quarter worth $45,290,194. Bank of New York Mellon Corp acquired a new position in Acushnet in the 2nd quarter worth approximately $31,800,000. Bank of America Corp DE acquired a new position in shares of Acushnet in the 2nd quarter valued at $19,732,000. Finally, Callan Family Office LLC bought a new stake in shares of Acushnet in the 2nd quarter valued at $10,271,000. 53.12% of the stock is currently owned by institutional investors.

Acushnet Company Profile

Acushnet Holdings Corp. is a golf equipment and performance-wear company headquartered in Fairhaven, Massachusetts. Through a portfolio of recognized brands, the company develops, manufactures and markets products used by golfers and golf facilities worldwide.

Its principal brands include Titleist, which offers golf balls, clubs, golf bags, gloves and accessories; FootJoy, which specializes in golf footwear, apparel and gloves; Scotty Cameron, known for premium putters and related accessories; and KJUS, which produces high-performance golf and outdoor apparel.

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