Acushnet (GOLF) Soars 7.2%: Is Further Upside Left in the Stock?

Acushnet (GOLF) shares soared 7.2% in the last trading session to close at $107.73. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 12.8% gain over the past four weeks.Acushnet stock moved higher as a more favorable macroeconomic backdrop, including reduced geopolitical uncertainty, encouraged investors to take on risk. The gain was also driven by confidence in the company’s leading golf brands and expectations that healthy participation trends will continue to support business growth.This golf products maker is expected to post quarterly earnings of $1.60 per share in its upcoming report, which represents a year-over-year change of +28%. Revenues are expected to be $776.33 million, up 7.8% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Acushnet, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on GOLF going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Acushnet is a member of the Zacks Leisure and Recreation Products industry. One other stock in the same industry, American Outdoor Brands, Inc. (AOUT), finished the last trading session 3.4% higher at $10.13. AOUT has returned 7.6% over the past month.American Outdoor Brands' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.01. Compared to the company's year-ago EPS, this represents a change of -107.7%. American Outdoor Brands currently boasts a Zacks Rank of #3 (Hold).Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks