Zacks Investment Research upgraded shares of Acushnet (NYSE:GOLF) from a hold rating to a buy rating in a report released on Tuesday, Zacks.com reports. The firm currently has $33.00 price objective on the stock.
According to Zacks, “Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products. The company’s operating segment consists of Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear and FootJoy Golf Wear. Acushnet Holdings Corp. is headquartered in Fairhaven, Massachusetts. “
Other analysts have also recently issued research reports about the stock. Morgan Stanley set a $28.00 price objective on shares of Acushnet and gave the company a hold rating in a research report on Friday, November 1st. Compass Point cut shares of Acushnet from a neutral rating to a sell rating and upped their price objective for the company from $23.00 to $23.50 in a research report on Tuesday, October 29th. Wells Fargo & Co upped their price objective on shares of Acushnet from $25.00 to $28.00 and gave the company a market perform rating in a research report on Tuesday. Imperial Capital increased their target price on Acushnet from $24.00 to $27.00 and gave the stock an inline rating in a report on Friday, November 1st. Finally, Jefferies Financial Group increased their target price on Acushnet from $27.00 to $34.00 and gave the stock a buy rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $28.45.
GOLF opened at $30.60 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.95 and a debt-to-equity ratio of 0.33. Acushnet has a 12 month low of $20.24 and a 12 month high of $31.18. The company has a fifty day simple moving average of $27.58 and a 200 day simple moving average of $26.13. The stock has a market cap of $2.21 billion, a P/E ratio of 23.18, a P/E/G ratio of 3.75 and a beta of 0.98.
Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.10. Acushnet had a net margin of 6.92% and a return on equity of 12.07%. The business had revenue of $417.20 million during the quarter, compared to analysts’ expectations of $398.32 million. During the same quarter in the prior year, the company earned $0.09 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. On average, equities research analysts expect that Acushnet will post 1.57 earnings per share for the current fiscal year.
In other Acushnet news, insider Christopher Aaron Lindner sold 10,436 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $29.68, for a total transaction of $309,740.48. Following the completion of the transaction, the insider now owns 79,944 shares in the company, valued at approximately $2,372,737.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 53.90% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of GOLF. Janus Henderson Group PLC boosted its stake in shares of Acushnet by 16.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,903,825 shares of the company’s stock worth $49,994,000 after buying an additional 264,101 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Acushnet by 80.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 467,827 shares of the company’s stock worth $10,826,000 after buying an additional 208,527 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of Acushnet during the 2nd quarter worth about $4,476,000. Nuveen Asset Management LLC acquired a new position in shares of Acushnet during the 2nd quarter worth about $3,257,000. Finally, Northern Trust Corp boosted its stake in shares of Acushnet by 21.1% during the 2nd quarter. Northern Trust Corp now owns 689,297 shares of the company’s stock worth $18,102,000 after buying an additional 120,224 shares during the last quarter. Institutional investors own 48.08% of the company’s stock.
Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.
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