SunTrust Banks Lowers Acushnet (NYSE:GOLF) to Hold

SunTrust Banks lowered shares of Acushnet (NYSE:GOLF) from a buy rating to a hold rating in a report issued on Wednesday, BenzingaRatingsTable reports. The firm currently has $26.00 price objective on the stock.

Several other analysts also recently commented on GOLF. Zacks Investment Research raised shares of Acushnet from a sell rating to a hold rating in a report on Wednesday, May 8th. Roth Capital raised shares of Acushnet from a neutral rating to a buy rating and upped their price objective for the company from $27.00 to $28.00 in a report on Thursday, May 9th. Finally, ValuEngine raised shares of Acushnet from a hold rating to a buy rating in a report on Friday, May 10th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Acushnet currently has a consensus rating of Hold and an average price target of $25.99.

GOLF stock opened at $25.16 on Wednesday. The company has a fifty day simple moving average of $26.35. The stock has a market cap of $1.91 billion, a P/E ratio of 20.50, a P/E/G ratio of 3.29 and a beta of 1.00. 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 quarterly earnings data on Wednesday, May 8th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.11). The business had revenue of $433.70 million during the quarter, compared to analysts’ expectations of $445.66 million. Acushnet had a net margin of 5.74% and a return on equity of 10.10%. The firm’s revenue was down 1.9% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. As a group, equities analysts forecast that Acushnet will post 1.53 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Icon Wealth Partners LLC purchased a new stake in Acushnet during the first quarter worth $34,000. Advisor Group Inc. boosted its holdings in Acushnet by 29.9% during the fourth quarter. Advisor Group Inc. now owns 1,986 shares of the company’s stock worth $42,000 after buying an additional 457 shares in the last quarter. Amica Retiree Medical Trust purchased a new stake in Acushnet during the second quarter worth $109,000. Aperio Group LLC purchased a new stake in Acushnet during the second quarter worth $135,000. Finally, SG Americas Securities LLC purchased a new stake in Acushnet during the first quarter worth $189,000. 50.17% of the stock is currently owned by hedge funds and other institutional investors.

About Acushnet

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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