Weiss Ratings Reiterates Buy (B) Rating for Acushnet (NYSE:GOLF)

Key Points

• Weiss Ratings has reiterated a "Buy (B)" rating for Acushnet (NYSE:GOLF), indicating strong confidence in the company's stock performance.
• Acushnet reported quarterly earnings of $1.25 per share, which missed analyst estimates of $1.33 but showed a revenue increase of 5.4% year-over-year to $720.48 million.
• Analyst ratings for Acushnet include two "Buy," four "Hold," and one "Sell," with a consensus price target currently set at $73.00.

Acushnet (NYSE:GOLF - Get Free Report)'s stock had its "buy (b)" rating reissued by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

GOLF has been the topic of a number of other reports. Morgan Stanley increased their price objective on shares of Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Zacks Research cut shares of Acushnet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Finally, KeyCorp increased their price objective on shares of Acushnet from $80.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Acushnet presently has an average rating of "Hold" and a consensus price target of $73.00.

Acushnet Stock Performance

GOLF traded up $1.33 during trading on Wednesday, hitting $81.61. The stock had a trading volume of 57,151 shares, compared to its average volume of 454,362. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.21 and a current ratio of 2.25. The firm has a market capitalization of $4.79 billion, a P/E ratio of 21.80 and a beta of 0.89. The company's 50-day moving average price is $77.26 and its 200 day moving average price is $72.41. Acushnet has a twelve month low of $55.31 and a twelve month high of $84.40.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.25 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.08). Acushnet had a return on equity of 28.05% and a net margin of 9.24%.The company had revenue of $720.48 million for the quarter, compared to analyst estimates of $713.70 million. During the same period last year, the company earned $1.11 earnings per share. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Acushnet will post 3.06 EPS for the current fiscal year.

Insider Transactions at Acushnet

In other news, Director Holdings Corp. Misto sold 953,406 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the transaction, the director directly owned 29,523,653 shares in the company, valued at $1,935,570,690.68. This represents a 3.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mary Louise Bohn sold 13,190 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $78.85, for a total transaction of $1,040,031.50. Following the transaction, the insider owned 191,786 shares in the company, valued at approximately $15,122,326.10. The trade was a 6.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 53.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Acushnet by 9.6% during the 1st quarter. Vanguard Group Inc. now owns 3,090,666 shares of the company's stock worth $212,205,000 after acquiring an additional 269,742 shares during the period. Dimensional Fund Advisors LP increased its position in Acushnet by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,549,266 shares of the company's stock worth $106,366,000 after purchasing an additional 42,533 shares in the last quarter. Wellington Management Group LLP increased its position in Acushnet by 6.7% during the 1st quarter. Wellington Management Group LLP now owns 1,310,965 shares of the company's stock worth $90,011,000 after purchasing an additional 82,247 shares in the last quarter. Principal Financial Group Inc. increased its position in Acushnet by 7.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,104,699 shares of the company's stock worth $75,849,000 after purchasing an additional 80,676 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in Acushnet by 0.4% during the 2nd quarter. Raymond James Financial Inc. now owns 952,453 shares of the company's stock worth $69,358,000 after purchasing an additional 4,243 shares in the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

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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