Acushnet (GOLF) Upgraded to “B” by TheStreet

Acushnet (NYSE:GOLF) was upgraded by investment analysts at TheStreet from a “c+” rating to a “b” rating in a research report issued on Friday, March 29th, TheStreetRatingsTable reports.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Co reduced their price objective on Acushnet from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Monday, March 4th. Compass Point upgraded Acushnet from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 2nd. Stephens started coverage on Acushnet in a research note on Tuesday, January 8th. They set an “equal weight” rating on the stock. JPMorgan Chase & Co. started coverage on Acushnet in a research note on Thursday, December 20th. They set a “hold” rating and a $24.00 price objective on the stock. Finally, ValuEngine cut Acushnet from a “buy” rating to a “hold” rating in a research note on Friday, November 30th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $25.32.

Shares of Acushnet stock traded up $0.20 on Friday, hitting $25.23. 225,100 shares of the company’s stock traded hands, compared to its average volume of 169,964. The stock has a market cap of $1.91 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 2.45 and a beta of 0.87. The company has a current ratio of 2.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. Acushnet has a 52-week low of $20.24 and a 52-week high of $27.87.

Acushnet (NYSE:GOLF) last released its earnings results on Thursday, February 28th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). Acushnet had a net margin of 6.11% and a return on equity of 10.99%. The business had revenue of $343.36 million for the quarter, compared to analysts’ expectations of $340.46 million. As a group, equities analysts predict that Acushnet will post 1.54 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Brinker Capital Inc. lifted its stake in Acushnet by 11.6% in the first quarter. Brinker Capital Inc. now owns 14,713 shares of the company’s stock valued at $340,000 after buying an additional 1,524 shares during the last quarter. Geode Capital Management LLC lifted its stake in Acushnet by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 373,304 shares of the company’s stock valued at $7,864,000 after buying an additional 30,524 shares during the last quarter. Norges Bank bought a new stake in Acushnet in the fourth quarter valued at $6,301,000. Dimensional Fund Advisors LP lifted its stake in Acushnet by 36.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,221,960 shares of the company’s stock valued at $25,747,000 after buying an additional 323,961 shares during the last quarter. Finally, River & Mercantile Asset Management LLP increased its holdings in shares of Acushnet by 32.9% during the fourth quarter. River & Mercantile Asset Management LLP now owns 315,156 shares of the company’s stock valued at $6,634,000 after purchasing an additional 77,967 shares during the period. Institutional investors own 50.85% of the company’s stock.

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.

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Analyst Recommendations for Acushnet (NYSE:GOLF)

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