Acushnet (NYSE:GOLF) Cut to Hold at Zacks Research

Acushnet (NYSE:GOLF) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

GOLF has been the subject of a number of other reports. Roth Mkm reissued a “neutral” rating and issued a $80.00 target price on shares of Acushnet in a report on Thursday, November 6th. Truist Financial upped their target price on shares of Acushnet from $74.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, February 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Acushnet in a report on Wednesday, January 21st. Morgan Stanley raised their price objective on shares of Acushnet from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. upgraded shares of Acushnet from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $74.00 to $96.00 in a research note on Friday, January 23rd. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $87.83.

Acushnet Price Performance

Shares of Acushnet stock opened at $100.15 on Tuesday. Acushnet has a twelve month low of $55.31 and a twelve month high of $104.81. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.30 and a current ratio of 2.42. The firm has a market cap of $5.87 billion, a P/E ratio of 27.36 and a beta of 0.89. The firm’s 50-day simple moving average is $90.67 and its 200-day simple moving average is $83.04.

Insider Activity at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $84.66, for a total value of $1,693,200.00. Following the completion of the transaction, the insider owned 76,006 shares in the company, valued at $6,434,667.96. The trade was a 20.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 53.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Acushnet

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of Acushnet by 6.6% during the first quarter. Royal Bank of Canada now owns 88,703 shares of the company’s stock valued at $6,090,000 after acquiring an additional 5,510 shares during the period. AQR Capital Management LLC raised its holdings in Acushnet by 2.5% during the 1st quarter. AQR Capital Management LLC now owns 19,498 shares of the company’s stock worth $1,339,000 after purchasing an additional 475 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in Acushnet by 13.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,603 shares of the company’s stock valued at $316,000 after purchasing an additional 548 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Acushnet by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,560 shares of the company’s stock valued at $1,137,000 after purchasing an additional 460 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Acushnet by 39.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 249,807 shares of the company’s stock worth $17,152,000 after buying an additional 70,095 shares during the period. 53.12% of the stock is owned by institutional investors and hedge funds.

Acushnet Company Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.