Research analysts at Jefferies Group started coverage on shares of Golfsmith International Holdings, Inc. (NASDAQ:GOLF) in a report released on Tuesday. The firm set a “buy” rating on the stock.

The analysts wrote, “We believe GOLF should see steady growth as it drives further market share gains, and benefits from an improving industry backdrop. A loyal customer base and high consumables penetration add a key aspect of predictability. We initiate coverage of GOLF with a Buy rating & $25 PT and see the risk/reward skewed to the upside. We expect the stock to be driven by multiple expansion, as GOLF trades below its peer set. JEF was a passive bookrunner in the Oct. ’16 IPO. Acushnet is the beneficiary of a stabilizing golf industry. We see several demographic tailwinds fueling the golf industry, including the 76M baby boomers entering retirement (and planning to play more golf) and improving participation from beginner/ junior golfers. Golf rounds played inflected up in 2015 and are tracking up YTD, speaking to this trend.”

A number of other equities research analysts have also recently weighed in on GOLF. Nomura initiated coverage on Acushnet Holdings in a research note on Tuesday. They issued a “buy” rating for the company. KeyCorp initiated coverage on Acushnet Holdings in a research note on Tuesday. They set an “overweight” rating for the company. JPMorgan Chase & Co. initiated coverage on Acushnet Holdings in a research note on Tuesday. They set a “neutral” rating for the company. SunTrust Banks Inc. initiated coverage on Acushnet Holdings in a research note on Tuesday. They set a “buy” rating for the company. Finally, Wells Fargo & Co. initiated coverage on Acushnet Holdings in a research note on Tuesday. They set a “market perform” rating for the company. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $23.25.

Analyst Recommendations for Golfsmith International Holdings (NASDAQ:GOLF)

Acushnet Holdings (NYSE:GOLF) opened at 19.02 on Tuesday. The stock’s market cap is $415.04 million. The firm has a 50-day moving average price of $18.20 and a 200-day moving average price of $18.20. Acushnet Holdings has a one year low of $16.90 and a one year high of $19.18.

In related news, major shareholder Wb Atlas Llc sold 4,029,099 shares of the company’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $17.00, for a total transaction of $68,494,683.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Walter R. Uihlein acquired 70,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $1,190,000.00. Following the acquisition, the chief executive officer now directly owns 702,196 shares of the company’s stock, valued at $11,937,332. The disclosure for this purchase can be found here.

About Acushnet Holdings Inc.

Acushnet Holdings Inc. is involved in the design, development, manufacture and distribution of performance-driven golf products. Their brands include Titleist, one of golf’s leading performance equipment brands, and FootJoy, one of golf’s leading performance wear brands.

5 Day Chart for NASDAQ:GOLF

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