Acushnet (NYSE:GOLF) Rating Lowered to Neutral at Compass Point

Acushnet (NYSE:GOLF) was downgraded by Compass Point from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $71.00 price target on the stock, down from their previous price target of $80.00. Compass Point’s price target points to a potential upside of 9.05% from the company’s current price.

Several other equities research analysts have also issued reports on GOLF. Truist Financial reduced their price objective on shares of Acushnet from $68.00 to $64.00 and set a “hold” rating for the company in a research note on Monday, April 14th. KeyCorp decreased their price target on Acushnet from $77.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. JPMorgan Chase & Co. downgraded Acushnet from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. Finally, StockNews.com cut Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Acushnet has a consensus rating of “Hold” and a consensus target price of $68.80.

Acushnet Price Performance

Shares of NYSE:GOLF opened at $65.11 on Monday. 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 has a market capitalization of $3.91 billion, a PE ratio of 22.15 and a beta of 0.90. The stock has a fifty day moving average of $64.24 and a 200-day moving average of $67.40. Acushnet has a one year low of $55.31 and a one year high of $76.65.

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

Insider Activity

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the completion of the transaction, the insider now directly owns 96,006 shares in the company, valued at $6,802,985.16. This represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 54.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Acushnet

Several large investors have recently made changes to their positions in the company. Cetera Investment Advisers boosted its holdings in shares of Acushnet by 10.4% in the 1st quarter. Cetera Investment Advisers now owns 3,965 shares of the company’s stock worth $272,000 after acquiring an additional 374 shares in the last quarter. Avantax Advisory Services Inc. acquired a new position in Acushnet in the first quarter worth $207,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Acushnet during the first quarter worth $223,000. Allianz Asset Management GmbH bought a new position in shares of Acushnet in the first quarter valued at about $564,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in Acushnet during the 1st quarter worth about $629,000. Institutional investors own 53.12% 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.