Acushnet (NYSE:GOLF) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Acushnet from “buy” to “hold.” Other analysts are similarly cautious, with an overall consensus “hold” rating and an average price target of $97.57.
• Acushnet reported a strong quarter, posting EPS of $2.08 versus the $1.63 consensus estimate and revenue of $819.95 million, up 13.8% year over year.
• The stock opened at $80.61, well below its 52-week high of $119.65; institutional investors own 53.12% of Acushnet’s outstanding shares.

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

Several other brokerages also recently commented on GOLF. Weiss Ratings upgraded Acushnet from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Stephens started coverage on shares of Acushnet in a report on Tuesday. They set an "equal weight" rating and a $88.00 price objective for the company. Roth Capital reiterated a "neutral" rating and issued a $95.00 target price on shares of Acushnet in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Acushnet from $96.00 to $118.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $97.57.

Acushnet Price Performance

NYSE GOLF opened at $80.61 on Friday. The firm has a market cap of $4.71 billion, a P/E ratio of 21.97 and a beta of 0.80. The stock's 50-day moving average is $94.39 and its two-hundred day moving average is $96.15. Acushnet has a fifty-two week low of $73.09 and a fifty-two week high of $119.65. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.55 and a quick ratio of 1.48.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $2.08 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.45. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.The business had revenue of $819.95 million for the quarter, compared to analyst estimates of $788.24 million. During the same quarter in the prior year, the firm posted $1.25 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. On average, analysts anticipate that Acushnet will post 4.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acushnet

Several hedge funds have recently modified their holdings of the business. Millstone Evans Group LLC raised its stake in Acushnet by 170.2% during the 1st 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 acquired a new stake in Acushnet in the 2nd quarter worth $36,000. Kelleher Financial Advisors bought a new position in shares of Acushnet during the 2nd quarter worth about $42,000. EverSource Wealth Advisors LLC increased its holdings in shares of Acushnet by 43.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 535 shares of the company's stock worth $50,000 after purchasing an additional 163 shares during the period. Finally, Hantz Financial Services Inc. raised its position in shares of Acushnet by 320.5% during the fourth quarter. Hantz Financial Services Inc. now owns 656 shares of the company's stock valued at $52,000 after buying an additional 500 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

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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