Acushnet (NYSE:GOLF) Downgraded to Hold Rating by Zacks Research

Acushnet (NYSE:GOLF) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on GOLF. Roth Mkm reissued a “neutral” rating and set a $80.00 target price on shares of Acushnet in a research note on Thursday, November 6th. JPMorgan Chase & Co. raised Acushnet from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $74.00 to $96.00 in a research report on Friday, January 23rd. Morgan Stanley boosted their target price on Acushnet from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, January 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, January 21st. Finally, Truist Financial lifted their price target on Acushnet from $74.00 to $95.00 and gave the company a “hold” rating in a report on Monday, February 9th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $87.83.

Acushnet Stock Performance

Shares of Acushnet stock opened at $100.15 on Tuesday. The business has a fifty day simple moving average of $90.67 and a 200-day simple moving average of $83.04. 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. Acushnet has a 12 month low of $55.31 and a 12 month high of $104.81.

Insider Buying and Selling at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $84.66, for a total value of $1,693,200.00. Following the completion of the sale, the insider directly owned 76,006 shares in the company, valued at approximately $6,434,667.96. The trade was a 20.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 53.60% of the company’s stock.

Institutional Trading of Acushnet

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