Zacks Research Upgrades Acushnet (NYSE:GOLF) to Strong-Buy

Acushnet (NYSE:GOLF) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

GOLF has been the topic of a number of other reports. Truist Financial raised their price objective on Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. increased their target price on Acushnet from $67.00 to $74.00 and gave the company an “underweight” rating in a report on Monday, December 15th. KeyCorp reaffirmed a “sector weight” rating on shares of Acushnet in a research note on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, October 8th. Finally, Roth Capital restated a “neutral” rating and issued a $80.00 target price on shares of Acushnet in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Acushnet has an average rating of “Hold” and an average price target of $79.83.

Acushnet Trading Down 1.6%

Shares of GOLF stock opened at $90.43 on Monday. Acushnet has a 12-month low of $55.31 and a 12-month high of $94.18. The company has a 50 day moving average of $83.94 and a 200-day moving average of $80.33. 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 firm has a market cap of $5.30 billion, a P/E ratio of 24.71 and a beta of 0.88.

Acushnet (NYSE:GOLF) last posted its earnings results on Wednesday, November 5th. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business had revenue of $657.66 million for the quarter, compared to analysts’ expectations of $632.76 million. Acushnet had a return on equity of 27.50% and a net margin of 8.80%.Acushnet’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Sell-side analysts anticipate that Acushnet will post 3.06 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO David Eugene Maher sold 26,939 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $79.33, for a total value of $2,137,070.87. Following the completion of the sale, the chief executive officer directly owned 852,092 shares of the company’s stock, valued at approximately $67,596,458.36. This trade represents a 3.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction that occurred 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 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 71,460 shares of company stock valued at $5,786,311. 53.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Acushnet

Several hedge funds and other institutional investors have recently modified their holdings of GOLF. Royal Bank of Canada grew its holdings in shares of Acushnet by 6.6% in the first quarter. Royal Bank of Canada now owns 88,703 shares of the company’s stock worth $6,090,000 after acquiring an additional 5,510 shares during the period. AQR Capital Management LLC lifted its stake in shares of Acushnet by 2.5% in the 1st quarter. AQR Capital Management LLC now owns 19,498 shares of the company’s stock worth $1,339,000 after purchasing an additional 475 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in shares of Acushnet by 13.5% in the first quarter. Integrated Wealth Concepts LLC now owns 4,603 shares of the company’s stock worth $316,000 after buying an additional 548 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Acushnet by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,560 shares of the company’s stock valued at $1,137,000 after buying an additional 460 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Acushnet by 39.0% in the first quarter. Goldman Sachs Group Inc. now owns 249,807 shares of the company’s stock worth $17,152,000 after acquiring an additional 70,095 shares during the period. 53.12% of the stock is owned by institutional investors.

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.