Wall Street Zen Upgrades Acushnet (NYSE:GOLF) to Buy

Acushnet (NYSE:GOLF) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other research firms have also recently issued reports on GOLF. Roth Capital reiterated a “neutral” rating and issued a $95.00 target price on shares of Acushnet in a research note on Friday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Weiss Ratings raised shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Truist Financial lifted their price objective on shares of Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Acushnet has a consensus rating of “Hold” and a consensus price target of $99.17.

Acushnet Stock Down 0.3%

NYSE:GOLF opened at $89.76 on Friday. The company has a current ratio of 2.55, a quick ratio of 1.48 and a debt-to-equity ratio of 1.01. The stock has a 50 day moving average of $105.26 and a 200-day moving average of $98.50. The firm has a market capitalization of $5.24 billion, a PE ratio of 24.46 and a beta of 0.81. Acushnet has a 52 week low of $73.09 and a 52 week high of $119.65.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Thursday, August 6th. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.45. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.The business had revenue of $819.95 million for the quarter, compared to the consensus estimate of $788.24 million. During the same quarter last year, the business posted $1.25 EPS. The business’s revenue was up 13.8% on a year-over-year basis. Analysts predict that Acushnet will post 3.99 EPS for the current year.

Insider Buying and Selling at Acushnet

In other news, insider Steven Francis Pelisek sold 15,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total value of $1,368,900.00. Following the completion of the transaction, the insider owned 70,512 shares of the company’s stock, valued at approximately $6,434,925.12. This represents a 17.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nicholas N. Mohamed sold 529 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total value of $50,255.00. Following the transaction, the insider directly owned 2,868 shares in the company, valued at $272,460. This trade represents a 15.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 53.30% of the company’s stock.

Hedge Funds Weigh In On Acushnet

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Acushnet during the second quarter valued at approximately $496,463,000. Neumeier Poma Investment Counsel LLC bought a new stake in Acushnet during the second quarter worth approximately $45,290,194,000. Bank of New York Mellon Corp acquired a new stake in Acushnet in the second quarter worth approximately $31,800,000. Morgan Stanley boosted its stake in Acushnet by 22.3% during the 4th quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock valued at $110,091,000 after purchasing an additional 251,889 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Acushnet by 668.1% during the 4th quarter. M&T Bank Corp now owns 159,874 shares of the company’s stock valued at $12,761,000 after purchasing an additional 139,060 shares in the last quarter. Institutional investors own 53.12% of the company’s stock.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.