SunTrust Banks Comments on Golfsmith International Holdings, Inc.’s Q1 2018 Earnings (GOLF)

Golfsmith International Holdings, Inc. (NASDAQ:GOLF) – Research analysts at SunTrust Banks upped their Q1 2018 earnings per share (EPS) estimates for shares of Golfsmith International in a note issued to investors on Thursday. SunTrust Banks analyst M. Swartz now forecasts that the specialty retailer will post earnings per share of $0.52 for the quarter, up from their prior forecast of $0.49. SunTrust Banks has a “Buy” rating and a $24.00 price objective on the stock. SunTrust Banks also issued estimates for Golfsmith International’s Q3 2018 earnings at $0.14 EPS, Q4 2018 earnings at $0.18 EPS, FY2018 earnings at $1.36 EPS and FY2019 earnings at $1.48 EPS.

Several other equities analysts also recently issued reports on the stock. KeyCorp upped their price objective on shares of Golfsmith International from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Zacks Investment Research upgraded shares of Golfsmith International from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Friday, November 10th. Imperial Capital increased their price target on shares of Golfsmith International from $15.00 to $17.00 and gave the stock an “in-line” rating in a report on Friday, November 10th. Nomura increased their price target on shares of Golfsmith International from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. Finally, Morgan Stanley increased their price target on shares of Golfsmith International from $19.50 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, November 9th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Golfsmith International has a consensus rating of “Buy” and an average price target of $20.25.

Golfsmith International (NASDAQ GOLF) opened at $21.68 on Monday. Golfsmith International has a fifty-two week low of $15.16 and a fifty-two week high of $22.08.

Golfsmith International (NASDAQ:GOLF) last posted its quarterly earnings data on Wednesday, November 8th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.03. The company had revenue of $347.30 million for the quarter, compared to analyst estimates of $339.73 million. The business’s quarterly revenue was up 2.4% compared to the same quarter last year.

In related news, insider Mirae Asset Partners Private E sold 9,165,542 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $17.00, for a total value of $155,814,214.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Hedge funds and other institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. acquired a new stake in shares of Golfsmith International during the 2nd quarter worth approximately $256,000. Suntrust Banks Inc. acquired a new stake in shares of Golfsmith International during the 2nd quarter worth approximately $273,000. The Manufacturers Life Insurance Company grew its stake in shares of Golfsmith International by 4.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,348 shares of the specialty retailer’s stock worth $404,000 after purchasing an additional 904 shares during the period. OxFORD Asset Management LLP acquired a new stake in shares of Golfsmith International during the 2nd quarter worth approximately $515,000. Finally, Rhumbline Advisers grew its stake in shares of Golfsmith International by 28.9% during the 2nd quarter. Rhumbline Advisers now owns 30,924 shares of the specialty retailer’s stock worth $614,000 after purchasing an additional 6,925 shares during the period.

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About Golfsmith International

Golfsmith International Holdings, Inc, the parent company of Golfsmith International, Inc, is a holding company. The Company is a specialty retailer of golf and tennis equipment, apparel, footwear and accessories. The Company operates as an integrated multi-channel retailer, providing its customers the convenience of shopping in the retail stores across United States, through its Internet site, www.golfsmith.com, and from its catalogs.

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