Acushnet (NYSE:GOLF) Cut to “Hold” at StockNews.com

Acushnet (NYSE:GOLFGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

GOLF has been the subject of several other research reports. Morgan Stanley cut 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. KeyCorp cut their price objective on Acushnet from $63.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, March 3rd. Finally, Truist Financial cut their price objective on Acushnet from $48.00 to $44.00 and set a “hold” rating for the company in a report on Monday, April 11th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $54.17.

Shares of GOLF stock opened at $39.29 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.13 and a current ratio of 1.97. Acushnet has a 1 year low of $37.46 and a 1 year high of $57.87. The stock has a fifty day moving average of $41.21 and a two-hundred day moving average of $44.72. The firm has a market capitalization of $2.84 billion, a PE ratio of 16.79 and a beta of 0.76.

Acushnet (NYSE:GOLFGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.30. The company had revenue of $606.10 million during the quarter, compared to analyst estimates of $571.20 million. Acushnet had a return on equity of 15.47% and a net margin of 8.05%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 EPS. Equities research analysts predict that Acushnet will post 2.78 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Acushnet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,126,762 shares of the company’s stock worth $125,883,000 after purchasing an additional 24,312 shares during the last quarter. BlackRock Inc. increased its position in Acushnet by 1.5% in the 4th quarter. BlackRock Inc. now owns 2,454,747 shares of the company’s stock worth $130,299,000 after purchasing an additional 36,778 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Acushnet by 4.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,174,823 shares of the company’s stock valued at $87,559,000 after acquiring an additional 84,806 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Acushnet by 4.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,671 shares of the company’s stock valued at $61,630,000 after acquiring an additional 64,464 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Acushnet by 21.9% during the 1st quarter. Victory Capital Management Inc. now owns 1,321,463 shares of the company’s stock valued at $53,202,000 after acquiring an additional 237,659 shares during the last quarter. 49.45% of the stock is currently owned by institutional investors.

Acushnet Company Profile (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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Analyst Recommendations for Acushnet (NYSE:GOLF)

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