StockNews.com assumed coverage on shares of Acushnet (NYSE:GOLF – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the stock.
A number of other brokerages also recently weighed in on GOLF. Tigress Financial raised shares of Acushnet from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $50.00 to $62.00 in a research note on Tuesday. Compass Point cut shares of Acushnet from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $65.00 to $55.00 in a report on Tuesday. Stephens raised their price target on shares of Acushnet from $52.00 to $53.00 and gave the stock an “equal weight” rating in a report on Thursday, March 2nd. Finally, Morgan Stanley raised their price target on shares of Acushnet from $50.00 to $54.00 and gave the stock an “equal weight” rating in a report on Friday, March 3rd. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $52.00.
Acushnet Price Performance
Shares of NYSE GOLF opened at $48.81 on Thursday. Acushnet has a twelve month low of $37.46 and a twelve month high of $54.11. The firm has a fifty day simple moving average of $48.46 and a 200 day simple moving average of $46.64. The company has a market capitalization of $3.27 billion, a PE ratio of 17.88 and a beta of 0.77. The company has a quick ratio of 0.70, a current ratio of 1.93 and a debt-to-equity ratio of 0.54.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOLF. Norges Bank purchased a new position in Acushnet during the fourth quarter worth about $16,261,000. Raymond James & Associates boosted its holdings in Acushnet by 146.4% during the third quarter. Raymond James & Associates now owns 546,263 shares of the company’s stock worth $23,757,000 after purchasing an additional 324,564 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Acushnet by 21.1% during the second quarter. Macquarie Group Ltd. now owns 1,306,948 shares of the company’s stock worth $54,474,000 after purchasing an additional 228,162 shares during the last quarter. Marshall Wace LLP raised its position in Acushnet by 719.0% in the fourth quarter. Marshall Wace LLP now owns 211,502 shares of the company’s stock worth $8,980,000 after acquiring an additional 185,677 shares during the period. Finally, Lansdowne Partners UK LLP bought a new stake in Acushnet in the fourth quarter worth about $7,062,000. 49.39% of the stock is currently owned by hedge funds and other institutional investors.
Acushnet Holdings Corp. engages in the design, development, manufacture, and distribution of performance-driven golf products. It operates through the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, FootJoy Golf Wear, and Other. The Titleist Golf Balls segment is involved in the design and manufacture of golf balls.
- Get a free copy of the StockNews.com research report on Acushnet (GOLF)
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