Acushnet (NYSE:GOLF) Downgraded to Hold Rating by Zacks Research

Zacks Research downgraded shares of Acushnet (NYSE:GOLF) from a strong-buy rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

Several other equities research analysts also recently commented on GOLF. Weiss Ratings reissued a “buy (b)” rating on shares of Acushnet in a report on Wednesday, January 21st. Truist Financial upped their price target on shares of Acushnet from $74.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, February 9th. KeyCorp reissued a “sector weight” rating on shares of Acushnet in a research report on Friday, January 16th. Morgan Stanley boosted their price objective on shares of Acushnet from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 22nd. Finally, Roth Mkm reiterated a “neutral” rating and issued a $80.00 target price on shares of Acushnet in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Acushnet currently has an average rating of “Hold” and an average target price of $87.83.

Acushnet Trading Up 0.7%

Shares of NYSE:GOLF opened at $100.15 on Tuesday. The company’s 50-day moving average price is $90.67 and its two-hundred day moving average price is $83.04. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.42 and a quick ratio of 1.30. Acushnet has a one year low of $55.31 and a one year high of $104.81. The stock has a market capitalization of $5.87 billion, a PE ratio of 27.36 and a beta of 0.89.

Insider Transactions at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $84.66, for a total value of $1,693,200.00. Following the transaction, the insider owned 76,006 shares of the company’s stock, valued at approximately $6,434,667.96. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 53.60% of the stock is owned by company insiders.

Institutional Trading of Acushnet

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

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.