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

Acushnet (NYSE:GOLF) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Other equities research analysts have also issued research reports about the stock. Truist Financial boosted their price target on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating and raised their price target for the company from $77.00 to $80.00 in a research note on Tuesday. Finally, KeyCorp lowered their price objective on Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $72.80.

Acushnet Price Performance

NYSE:GOLF opened at $68.40 on Friday. The firm’s fifty day moving average is $68.51 and its two-hundred day moving average is $67.59. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 23.27 and a beta of 0.79. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. Acushnet has a one year low of $58.54 and a one year high of $76.65.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.31. The firm had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. Research analysts expect that Acushnet will post 3.06 EPS for the current year.

Institutional Trading of Acushnet

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in Acushnet by 100.6% during the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after purchasing an additional 176 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Acushnet during the fourth quarter worth about $31,000. Prospera Private Wealth LLC purchased a new stake in shares of Acushnet during the third quarter worth approximately $41,000. Lazard Asset Management LLC acquired a new stake in Acushnet in the fourth quarter valued at approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in Acushnet by 39.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company’s stock worth $58,000 after acquiring an additional 232 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Company Profile

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.