Golfsmith International Holdings, Inc. (GOLF) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Golfsmith International Holdings, Inc. (NASDAQ:GOLF) from a hold rating to a buy rating in a research note issued to investors on Friday. The brokerage currently has $21.00 price target on the specialty retailer’s stock.

According to Zacks, “Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products. The company’s operating segment consists of Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear and FootJoy Golf Wear. Acushnet Holdings Corp. is headquartered in Fairhaven, Massachusetts. “

A number of other research analysts have also recently issued reports on the stock. Imperial Capital raised their price target on shares of Golfsmith International Holdings from $15.00 to $17.00 and gave the stock an in-line rating in a report on Friday. Nomura raised their price target on shares of Golfsmith International Holdings from $18.00 to $19.00 and gave the stock a buy rating in a report on Thursday. Morgan Stanley raised their price target on shares of Golfsmith International Holdings from $19.50 to $20.00 and gave the stock an overweight rating in a report on Thursday. KeyCorp reiterated an overweight rating on shares of Golfsmith International Holdings in a research note on Thursday. Finally, Jefferies Group LLC set a $22.00 price objective on shares of Golfsmith International Holdings and gave the stock a buy rating in a research note on Thursday, October 26th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Golfsmith International Holdings currently has an average rating of Hold and an average price target of $20.19.

Golfsmith International Holdings (NASDAQ:GOLF) last posted its quarterly earnings results on Wednesday, November 8th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.03. The company had revenue of $347.30 million during the quarter, compared to analysts’ expectations of $339.73 million. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.48 annualized dividend and a dividend yield of Infinity.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. grew its position in shares of Golfsmith International Holdings by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 70,554 shares of the specialty retailer’s stock valued at $1,400,000 after purchasing an additional 361 shares during the period. Wells Fargo & Company MN grew its position in shares of Golfsmith International Holdings by 14.1% in the second quarter. Wells Fargo & Company MN now owns 92,496 shares of the specialty retailer’s stock valued at $1,834,000 after purchasing an additional 11,440 shares during the period. Bank of America Corp DE grew its position in shares of Golfsmith International Holdings by 469.6% in the first quarter. Bank of America Corp DE now owns 17,606 shares of the specialty retailer’s stock valued at $304,000 after purchasing an additional 14,515 shares during the period. Swiss National Bank acquired a new stake in shares of Golfsmith International Holdings in the second quarter valued at about $734,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Golfsmith International Holdings in the second quarter valued at about $9,920,000.

Golfsmith International Holdings Company Profile

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