Compass Point Upgrades Acushnet (NYSE:GOLF) to “Buy”

Acushnet (NYSE:GOLF) was upgraded by investment analysts at Compass Point from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, Marketbeat.com reports. The firm presently has a $80.00 price target on the stock. Compass Point’s price target indicates a potential upside of 25.02% from the company’s previous close.

A number of other analysts have also recently commented on GOLF. Truist Financial boosted their price objective on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. StockNews.com raised shares of Acushnet from a “hold” rating to a “buy” rating in a report on Friday. Finally, KeyCorp reduced their price target on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $72.80.

Acushnet Stock Performance

Shares of NYSE GOLF opened at $63.99 on Tuesday. Acushnet has a 1 year low of $58.54 and a 1 year high of $76.65. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The company’s fifty day moving average price is $68.82 and its 200 day moving average price is $67.59. The company has a market capitalization of $3.89 billion, a PE ratio of 21.77 and a beta of 0.86.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The firm had revenue of $445.17 billion for the quarter, compared to analysts’ expectations of $454.83 million. On average, research analysts predict that Acushnet will post 3.06 earnings per share for the current year.

Hedge Funds Weigh In On Acushnet

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. grew its stake in Acushnet by 100.6% during the 4th 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 acquired a new position in shares of Acushnet during the 4th quarter worth approximately $31,000. Prospera Private Wealth LLC purchased a new stake in shares of Acushnet in the third quarter valued at approximately $41,000. Lazard Asset Management LLC acquired a new stake in shares of Acushnet in the fourth quarter valued at approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in 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 buying an additional 232 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

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.