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

Key Points

• Weiss Ratings has reaffirmed its "buy (B)" rating for Acushnet (NYSE:GOLF), indicating positive sentiment from the ratings agency towards the company.
• Acushnet's stock has seen a price increase, trading at $82.32, and is approaching its 52-week high of $84.40.
• The company reported earnings per share of $1.25 for the last quarter, missing estimates slightly, but achieved a 5.4% increase in revenue year-over-year.

Acushnet (NYSE:GOLF - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by stock analysts at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

Several other research analysts also recently commented on the stock. KeyCorp increased their price objective on shares of Acushnet from $80.00 to $85.00 and gave the company an "overweight" rating in a report on Friday, August 8th. 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 report on Friday, July 18th. Finally, Zacks Research downgraded shares of Acushnet from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Acushnet has a consensus rating of "Hold" and an average price target of $73.00.

Acushnet Price Performance

GOLF stock traded up $1.03 during trading on Friday, reaching $82.32. The company's stock had a trading volume of 92,258 shares, compared to its average volume of 445,256. Acushnet has a 1 year low of $55.31 and a 1 year high of $84.40. The company has a quick ratio of 1.21, a current ratio of 2.25 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $4.83 billion, a P/E ratio of 22.01 and a beta of 0.89. The company's fifty day moving average is $77.74 and its 200-day moving average is $73.58.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.25 earnings per share (EPS) 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 business had revenue of $720.48 million during the quarter, compared to analysts' expectations of $713.70 million. During the same quarter in the previous year, the company posted $1.11 EPS. The company's quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts expect that Acushnet will post 3.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Mary Louise Bohn sold 13,190 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $78.85, for a total value of $1,040,031.50. Following the sale, the insider directly owned 191,786 shares of the company's stock, valued at $15,122,326.10. This represents a 6.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 53.60% of the stock is owned by company insiders.

Institutional Trading of Acushnet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its position in Acushnet by 6.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company's stock worth $240,000 after purchasing an additional 203 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Acushnet by 7.1% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 3,472 shares of the company's stock worth $253,000 after acquiring an additional 230 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Acushnet by 4.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 5,618 shares of the company's stock worth $409,000 after acquiring an additional 232 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Acushnet by 3.7% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,789 shares of the company's stock worth $494,000 after acquiring an additional 241 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Acushnet by 83.7% during the second quarter. Nisa Investment Advisors LLC now owns 540 shares of the company's stock worth $39,000 after acquiring an additional 246 shares during the period. 53.12% of the stock is owned by hedge funds and other institutional investors.

Acushnet Company Profile

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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