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Acushnet Holdings (GOLF) Gets a Hold from Morgan Stanley

Morgan Stanley analyst Brian harbour maintained a Hold rating on Acushnet Holdings (GOLFResearch Report) today and set a price target of $50.00. The company’s shares opened today at $44.31.

According to TipRanks, harbour is a 2-star analyst with an average return of -1.2% and a 22.22% success rate.

Currently, the analyst consensus on Acushnet Holdings is a Hold with an average price target of $47.80, a 7.88% upside from current levels. In a report released on November 4, J.P. Morgan also maintained a Hold rating on the stock with a $46.00 price target.

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Based on Acushnet Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $658.6 million and a net profit of $66.45 million. In comparison, last year the company earned a revenue of $624.85 million and had a net profit of $81.09 million

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Acushnet Holdings Corp. engages in the design, development, manufacture, and distribution of golf products. It operates through the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, FootJoy Golf Wear, and Other. The Titleist Golf Balls segment involves in the design and manufacture of golf balls. The Titleist Golf Clubs segment designs, assembles, and sells golf clubs such as drivers, fairways, hybrids, and irons. The Titleist Golf Gear segment offers golf bags, headwear, gloved, travel gear, and head covers. The FootJoy Golf Wear segment includes golf shoes, gloves, and apparel. The company was founded by Phil Young in 1910 and is headquartered in Fairhaven, MA.

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