Acushnet (GOLF) Cut to Hold at ValuEngine

Acushnet (NYSE:GOLF) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.

Several other research firms have also recently weighed in on GOLF. Morgan Stanley increased their price target on shares of Acushnet from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, August 3rd. KeyCorp reissued a “buy” rating and issued a $28.00 price target on shares of Acushnet in a research note on Friday, August 3rd. Imperial Capital increased their price target on shares of Acushnet from $22.00 to $26.00 and gave the company an “in-line” rating in a research note on Monday, August 6th. Compass Point reissued a “hold” rating and issued a $25.00 price target on shares of Acushnet in a research note on Thursday, August 2nd. Finally, SunTrust Banks restated a “buy” rating and issued a $28.00 price objective on shares of Acushnet in a report on Thursday, August 2nd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Acushnet presently has an average rating of “Hold” and a consensus price target of $25.50.

Shares of Acushnet stock traded down $0.38 during mid-day trading on Friday, hitting $24.88. The stock had a trading volume of 227,200 shares, compared to its average volume of 208,307. Acushnet has a 12-month low of $16.91 and a 12-month high of $27.87. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.24 and a quick ratio of 1.31. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 2.54 and a beta of 0.20.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.05). Acushnet had a net margin of 6.32% and a return on equity of 11.81%. The firm had revenue of $478.14 million during the quarter, compared to analysts’ expectations of $453.42 million. Equities analysts expect that Acushnet will post 1.44 earnings per share for the current fiscal year.

Acushnet Company Profile

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products worldwide. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear. The Titleist Golf Balls segment designs, manufactures, and sells golf balls under the Titleist brands, such as Tour Soft, Velocity, and DT TruSoft, as well as under the Pinnacle brand.

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Analyst Recommendations for Acushnet (NYSE:GOLF)

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