Acushnet (NYSE:GOLF) Upgraded by StockNews.com to Buy

Acushnet (NYSE:GOLFGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

GOLF has been the topic of a number of other research reports. KeyCorp reduced their price target on Acushnet from $63.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, March 3rd. Zacks Investment Research downgraded Acushnet from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Morgan Stanley reduced their price objective on Acushnet from $56.00 to $48.00 and set an “equal weight” rating for the company in a report on Monday, April 25th. Finally, Truist Financial cut their price target on Acushnet from $48.00 to $44.00 and set a “hold” rating for the company in a report on Monday, April 11th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $53.14.

NYSE:GOLF traded up $1.70 during mid-day trading on Thursday, hitting $42.56. The company had a trading volume of 265,125 shares, compared to its average volume of 284,143. The firm has a market cap of $3.07 billion, a P/E ratio of 18.19 and a beta of 0.76. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.13 and a current ratio of 1.97. The business’s fifty day moving average is $41.16 and its two-hundred day moving average is $46.03. Acushnet has a fifty-two week low of $37.46 and a fifty-two week high of $57.87.

Acushnet (NYSE:GOLFGet Rating) last issued its earnings results on Thursday, May 5th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.80 by $0.30. The company had revenue of $606.10 million during the quarter, compared to the consensus estimate of $571.20 million. Acushnet had a return on equity of 15.47% and a net margin of 8.05%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.13 EPS. Equities analysts forecast that Acushnet will post 2.76 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. increased its position in shares of Acushnet by 80.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 467,827 shares of the company’s stock worth $10,826,000 after purchasing an additional 208,527 shares in the last quarter. Morgan Stanley raised its holdings in Acushnet by 5.2% in the 2nd quarter. Morgan Stanley now owns 412,058 shares of the company’s stock valued at $20,357,000 after acquiring an additional 20,238 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in Acushnet by 15.0% in the 3rd quarter. Advisor Group Holdings Inc. now owns 5,562 shares of the company’s stock valued at $260,000 after acquiring an additional 724 shares during the last quarter. First Republic Investment Management Inc. increased its holdings in shares of Acushnet by 22.8% during the 3rd quarter. First Republic Investment Management Inc. now owns 26,074 shares of the company’s stock worth $1,218,000 after buying an additional 4,844 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Acushnet during the 3rd quarter worth $321,000. Hedge funds and other institutional investors own 49.45% of the company’s stock.

About Acushnet (Get Rating)

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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