Acushnet (NYSE:GOLF) Upgraded at Compass Point

Acushnet (NYSE:GOLF) was upgraded by equities researchers at Compass Point from a “neutral” rating to a “buy” rating in a report released on Tuesday, Marketbeat.com reports. The firm currently has a $80.00 price objective on the stock. Compass Point’s price target points to a potential upside of 25.02% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Truist Financial lifted their price objective on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, November 8th. KeyCorp dropped their target price on Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday. JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. Finally, StockNews.com raised shares of Acushnet from a “hold” rating to a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.80.

Acushnet Stock Down 0.5 %

Shares of NYSE:GOLF opened at $63.99 on Tuesday. The business has a 50-day moving average price of $68.82 and a 200 day moving average price of $67.59. Acushnet has a 12-month low of $58.54 and a 12-month high of $76.65. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 21.77 and a beta of 0.86.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm had revenue of $445.17 billion for the quarter, compared to analyst estimates of $454.83 million. Sell-side analysts expect that Acushnet will post 3.06 EPS for the current year.

Hedge Funds Weigh In On Acushnet

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock valued at $25,000 after acquiring an additional 176 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Acushnet in the 4th quarter valued at approximately $31,000. Prospera Private Wealth LLC acquired a new stake in shares of Acushnet in the 3rd quarter valued at $41,000. Lazard Asset Management LLC purchased a new stake in shares of Acushnet during the 4th quarter worth $51,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Acushnet by 39.6% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company’s stock worth $58,000 after purchasing an additional 232 shares in the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Acushnet Company Profile

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.