Zacks Research Downgrades Acushnet (NYSE:GOLF) to Hold

Acushnet (NYSE:GOLF) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Morgan Stanley raised their price target on Acushnet from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 22nd. Roth Mkm reissued a “neutral” rating and set a $80.00 price objective on shares of Acushnet in a research note on Thursday, November 6th. Truist Financial lifted their target price on shares of Acushnet from $74.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, February 9th. KeyCorp reiterated a “sector weight” rating on shares of Acushnet in a report on Friday, January 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Acushnet in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Acushnet has a consensus rating of “Hold” and a consensus price target of $87.83.

Acushnet Price Performance

Shares of NYSE:GOLF opened at $100.15 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 2.42 and a debt-to-equity ratio of 1.03. The stock has a market cap of $5.87 billion, a PE ratio of 27.36 and a beta of 0.89. The company’s fifty day moving average is $90.67 and its 200 day moving average is $83.04. Acushnet has a 52 week low of $55.31 and a 52 week high of $104.81.

Insider Transactions at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $84.66, for a total value of $1,693,200.00. Following the completion of the transaction, the insider directly owned 76,006 shares in the company, valued at approximately $6,434,667.96. This represents a 20.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 53.60% of the company’s stock.

Institutional Investors Weigh In On Acushnet

Large investors have recently modified their holdings of the stock. Brown Brothers Harriman & Co. lifted its holdings in Acushnet by 389.6% in the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after buying an additional 261 shares during the period. Kelleher Financial Advisors bought a new position in shares of Acushnet in the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its stake in shares of Acushnet by 149.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after purchasing an additional 295 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Acushnet by 83.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock valued at $39,000 after purchasing an additional 246 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Acushnet by 57.3% during the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after purchasing an additional 184 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.