Acushnet (NYSE:GOLF) Stock Rating Upgraded by Stephens

Acushnet (NYSE:GOLF) was upgraded by Stephens to a “hold” rating in a report released on Tuesday, Zacks reports.

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

Acushnet Stock Down 0.3%

Acushnet stock opened at $82.88 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 2.55 and a debt-to-equity ratio of 1.01. Acushnet has a 12-month low of $73.09 and a 12-month high of $119.65. The firm’s fifty day moving average is $95.63 and its 200 day moving average is $96.41. The company has a market capitalization of $4.84 billion, a PE ratio of 22.58 and a beta of 0.80.

Acushnet (NYSE:GOLF) last issued its 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 net margin of 8.12% and a return on equity of 27.98%. The business had revenue of $819.95 million for the quarter, compared to analyst estimates of $788.24 million. During the same period in the prior year, the firm earned $1.25 earnings per share. Acushnet’s revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts predict that Acushnet will post 4.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Acushnet

A number of hedge funds have recently added to or reduced their stakes in the stock. Millstone Evans Group LLC raised its stake in shares of Acushnet by 170.2% in the first quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock worth $26,000 after purchasing an additional 177 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of Acushnet during the second quarter valued at approximately $36,000. Kelleher Financial Advisors purchased a new position in shares of Acushnet during the second quarter valued at approximately $42,000. Public Employees Retirement System of Ohio bought a new stake in Acushnet during the second quarter worth $52,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Acushnet by 43.8% during the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the company’s stock worth $50,000 after buying an additional 163 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Company Profile

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.