Wall Street Zen Upgrades Acushnet (NYSE:GOLF) to “Buy”

Acushnet (NYSE:GOLF) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also commented on GOLF. JPMorgan Chase & Co. raised their price target on shares of Acushnet from $96.00 to $118.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Stephens cut their price target on Acushnet from $88.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday. Weiss Ratings downgraded Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, September 28th. Finally, Roth Capital reiterated a “neutral” rating and set a $95.00 price objective on shares of Acushnet in a research report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Acushnet presently has an average rating of “Hold” and an average target price of $96.57.

Acushnet Stock Down 0.1%

Acushnet stock opened at $80.21 on Friday. The company has a 50-day simple moving average of $84.85 and a 200-day simple moving average of $94.38. The firm has a market capitalization of $4.68 billion, a P/E ratio of 21.86 and a beta of 0.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.48 and a current ratio of 2.55. Acushnet has a one year low of $75.16 and a one year high of $119.65.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, August 6th. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.45. The business had revenue of $819.95 million for the quarter, compared to analysts’ expectations of $788.24 million. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. As a group, equities analysts expect that Acushnet will post 4.02 earnings per share for the current year.

Institutional Investors Weigh In On Acushnet

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Acushnet in the second quarter valued at approximately $496,463,000. Neumeier Poma Investment Counsel LLC acquired a new position in shares of Acushnet during the second quarter valued at approximately $45,290,194. Bank of New York Mellon Corp acquired a new position in shares of Acushnet during the second quarter valued at approximately $31,800,000. Bank of America Corp DE acquired a new position in shares of Acushnet during the second quarter valued at approximately $19,732,000. Finally, Sei Investments Co. raised its holdings in Acushnet by 7.6% during the first quarter. Sei Investments Co. now owns 108,255 shares of the company’s stock worth $10,120,000 after purchasing an additional 7,604 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors.

Acushnet Company Profile

Acushnet Holdings Corp. is a golf equipment and apparel company that develops, manufactures and markets products for golfers worldwide. Its portfolio includes golf clubs, golf balls, golf shoes, gloves, apparel, accessories and other golf-related equipment.

The company’s principal brands include Titleist, known for golf balls, clubs and equipment; FootJoy, which offers golf footwear, gloves and apparel; Scotty Cameron, which produces premium putters; Vokey Design, which specializes in wedges; and KJUS, a performance golf and outdoor apparel brand.