Acushnet (NYSE:GOLF) Upgraded by Stephens to “Hold” Rating

Acushnet (NYSE:GOLF) was upgraded by analysts at Stephens to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

Other research analysts also recently issued research reports about the company. Wall Street Zen raised Acushnet from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. raised their target price on shares of Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Roth Capital reiterated a “neutral” rating and issued a $95.00 price target on shares of Acushnet in a research report on Friday, August 7th. Finally, Truist Financial upped their price target on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $97.57.

Acushnet Stock Performance

Shares of NYSE GOLF opened at $82.88 on Tuesday. Acushnet has a 12-month low of $73.09 and a 12-month high of $119.65. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 22.58 and a beta of 0.80. 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 firm has a 50 day moving average of $95.63 and a 200 day moving average of $96.41.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, August 6th. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.45. The firm had revenue of $819.95 million during the quarter, compared to the consensus estimate of $788.24 million. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 EPS. On average, research analysts anticipate that Acushnet will post 4.02 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millstone Evans Group LLC boosted its position in shares of Acushnet by 170.2% during the first quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock worth $26,000 after acquiring an additional 177 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Acushnet in the 2nd quarter valued at $36,000. Kelleher Financial Advisors purchased a new stake in Acushnet in the 2nd quarter worth $42,000. Public Employees Retirement System of Ohio purchased a new stake in Acushnet in the 2nd quarter worth $52,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Acushnet by 43.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 535 shares of the company’s stock valued at $50,000 after purchasing an additional 163 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors.

About Acushnet

Acushnet Holdings Corp. develops, manufactures and distributes golf equipment, apparel and accessories. The company’s portfolio includes golf balls, clubs, wedges, putters, golf gloves, footwear, clothing, bags and other products serving recreational and professional golfers.

Acushnet’s principal brands include Titleist, known for golf balls and equipment; FootJoy, which offers golf footwear, gloves and apparel; and Scotty Cameron, which designs premium putters. The company also markets products under brands including Vokey Design, KJUS and Linksoul.

Founded in 1910, Acushnet is headquartered in Fairhaven, Massachusetts, and serves customers through a global network of retailers, golf courses, distributors and direct-to-consumer channels.