ValuEngine Downgrades Acushnet (NYSE:GOLF) to Hold

Acushnet (NYSE:GOLF) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday, ValuEngine reports.

Other equities research analysts have also recently issued research reports about the company. SunTrust Banks cut Acushnet from a “buy” rating to a “hold” rating and set a $26.00 target price on the stock. in a research note on Wednesday. Zacks Investment Research upgraded Acushnet from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Roth Capital upgraded Acushnet from a “neutral” rating to a “buy” rating and boosted their target price for the company from $27.00 to $28.00 in a research note on Thursday, May 9th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Acushnet has a consensus rating of “Hold” and a consensus target price of $26.10.

NYSE GOLF traded down $0.06 during trading on Thursday, hitting $25.16. The stock had a trading volume of 141,137 shares, compared to its average volume of 120,150. The firm has a market cap of $1.93 billion, a P/E ratio of 19.06, a PEG ratio of 3.34 and a beta of 1.00. The company has a 50-day moving average price of $26.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.89 and a quick ratio of 1.08. Acushnet has a 12 month low of $20.24 and a 12 month high of $27.87.

Acushnet (NYSE:GOLF) last released its earnings results on Wednesday, May 8th. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.11). The firm had revenue of $433.70 million during the quarter, compared to the consensus estimate of $445.66 million. Acushnet had a net margin of 5.74% and a return on equity of 10.10%. The company’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 EPS. Sell-side analysts expect that Acushnet will post 1.53 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Icon Wealth Partners LLC bought a new stake in shares of Acushnet during the 1st quarter worth approximately $34,000. Advisor Group Inc. increased its holdings in shares of Acushnet by 29.9% during the 4th quarter. Advisor Group Inc. now owns 1,986 shares of the company’s stock worth $42,000 after acquiring an additional 457 shares during the last quarter. Amica Retiree Medical Trust acquired a new position in shares of Acushnet during the 2nd quarter worth approximately $109,000. Aperio Group LLC acquired a new position in shares of Acushnet during the 2nd quarter worth approximately $135,000. Finally, SG Americas Securities LLC acquired a new position in shares of Acushnet during the 1st quarter worth approximately $189,000. Institutional investors own 50.17% 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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