Acushnet (NYSE:GOLF) Stock Gets Downgrade from Wall Street Zen

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

A number of other brokerages have also recently commented on GOLF. Weiss Ratings cut shares of Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, September 28th. Stephens dropped their target price on shares of Acushnet from $88.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 14th. Finally, Roth Capital restated a “neutral” rating and set a $95.00 target price on shares of Acushnet in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Acushnet has an average rating of “Hold” and a consensus target price of $97.67.

Acushnet Stock Performance

NYSE GOLF opened at $80.88 on Friday. The business has a 50 day moving average price of $83.16 and a 200 day moving average price of $94.04. The company has a market capitalization of $4.63 billion, a P/E ratio of 21.92 and a beta of 0.77. Acushnet has a 1-year low of $76.96 and a 1-year high of $119.65. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.02 and a quick ratio of 1.07.

Acushnet (NYSE:GOLF) last posted its earnings results on Wednesday, November 4th. The company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.15). The firm had revenue of $649.23 million for the quarter, compared to analysts’ expectations of $647.99 million. Acushnet had a return on equity of 27.92% and a net margin of 8.17%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 earnings per share. Sell-side analysts expect that Acushnet will post 3.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Acushnet

Several hedge funds have recently bought and sold shares of GOLF. Global Retirement Partners LLC purchased a new stake in shares of Acushnet during the second quarter worth about $36,000. Kelleher Financial Advisors acquired a new position in shares of Acushnet in the second quarter valued at approximately $42,000. Public Employees Retirement System of Ohio acquired a new position in shares of Acushnet in the second quarter valued at approximately $52,000. Compass Wealth Management LLC purchased a new position in shares of Acushnet during the third quarter valued at approximately $39,000. Finally, Signaturefd LLC lifted its stake in shares of Acushnet by 93.1% during the third quarter. Signaturefd LLC now owns 475 shares of the company’s stock valued at $39,000 after buying an additional 229 shares during the period. Hedge funds and other institutional investors own 53.12% of the company’s stock.

About Acushnet