Acushnet (NYSE:GOLF) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of Acushnet (NYSE:GOLF) from a hold rating to a buy rating in a research report report published on Thursday, ValuEngine reports.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Co set a $25.00 target price on Acushnet and gave the company a hold rating in a report on Friday, August 9th. SunTrust Banks downgraded Acushnet from a buy rating to a hold rating and set a $26.00 target price for the company. in a report on Wednesday, July 31st. Finally, Zacks Investment Research downgraded Acushnet from a buy rating to a hold rating in a report on Saturday, August 10th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Acushnet presently has a consensus rating of Hold and an average target price of $26.24.

Shares of NYSE GOLF traded down $0.16 during mid-day trading on Thursday, hitting $28.29. 5,995 shares of the company traded hands, compared to its average volume of 145,656. Acushnet has a 1 year low of $20.24 and a 1 year high of $28.51. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 3.62 and a beta of 0.97. The company has a quick ratio of 1.24, a current ratio of 2.15 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average of $25.61 and a two-hundred day moving average of $25.05.

Acushnet (NYSE:GOLF) last announced its earnings results on Wednesday, August 7th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.08). Acushnet had a net margin of 5.71% and a return on equity of 9.81%. The company had revenue of $462.22 million for the quarter, compared to analysts’ expectations of $484.88 million. During the same period in the prior year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, research analysts anticipate that Acushnet will post 1.51 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, August 29th. Acushnet’s payout ratio is 42.42%.

Large investors have recently bought and sold shares of the stock. Comerica Bank raised its position in Acushnet by 0.3% during the second quarter. Comerica Bank now owns 176,299 shares of the company’s stock valued at $4,705,000 after buying an additional 604 shares during the period. Aperio Group LLC acquired a new position in Acushnet during the second quarter valued at $135,000. Amica Mutual Insurance Co. acquired a new position in Acushnet during the second quarter valued at $686,000. Victory Capital Management Inc. raised its position in Acushnet by 25.9% during the first quarter. Victory Capital Management Inc. now owns 57,584 shares of the company’s stock valued at $1,332,000 after buying an additional 11,843 shares during the period. Finally, Icon Wealth Partners LLC acquired a new position in Acushnet during the first quarter valued at $34,000. 47.68% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Acushnet (NYSE:GOLF)

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