Acushnet (NYSE:GOLF) Reaches New 12-Month High – Time to Buy?

Acushnet (NYSE:GOLF) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $86.32 and last traded at $86.1920, with a volume of 72981 shares. The stock had previously closed at $84.50.

Analyst Upgrades and Downgrades

GOLF has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Acushnet from $67.00 to $74.00 and gave the company an “underweight” rating in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, October 8th. Roth Capital reissued a “neutral” rating and set a $80.00 target price on shares of Acushnet in a research note on Thursday, November 6th. Truist Financial boosted their target price on shares of Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Finally, KeyCorp increased their price target on Acushnet from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $78.17.

Acushnet Trading Up 1.1%

The company has a quick ratio of 1.30, a current ratio of 2.42 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $5.06 billion, a P/E ratio of 23.55 and a beta of 0.88. The firm’s 50 day simple moving average is $82.03 and its two-hundred day simple moving average is $79.34.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Acushnet had a return on equity of 27.50% and a net margin of 8.80%.The company had revenue of $657.66 million for the quarter, compared to the consensus estimate of $632.76 million. During the same period last year, the company earned $0.89 EPS. Acushnet’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts forecast that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, December 5th. Acushnet’s dividend payout ratio (DPR) is 25.68%.

Insider Buying and Selling

In other Acushnet news, CEO David Eugene Maher sold 26,939 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $79.33, for a total transaction of $2,137,070.87. Following the completion of the sale, the chief executive officer owned 852,092 shares in the company, valued at approximately $67,596,458.36. The trade was a 3.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $84.66, for a total transaction of $1,693,200.00. Following the transaction, the insider owned 76,006 shares in the company, valued at approximately $6,434,667.96. The trade was a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 71,460 shares of company stock worth $5,786,311 over the last ninety days. 53.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Acushnet

Several hedge funds and other institutional investors have recently made changes to their positions in GOLF. PNC Financial Services Group Inc. boosted its stake in Acushnet by 2.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,046 shares of the company’s stock valued at $553,000 after purchasing an additional 140 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Acushnet by 8.4% in the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $149,000 after purchasing an additional 144 shares in the last quarter. Vestmark Advisory Solutions Inc. boosted its position in shares of Acushnet by 0.3% during the third quarter. Vestmark Advisory Solutions Inc. now owns 46,246 shares of the company’s stock valued at $3,630,000 after buying an additional 148 shares during the last quarter. Allworth Financial LP grew its holdings in Acushnet by 57.3% during the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock worth $40,000 after buying an additional 184 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Acushnet by 7.1% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 3,472 shares of the company’s stock worth $253,000 after buying an additional 230 shares in the last quarter. 53.12% of the stock is owned by institutional investors.

Acushnet Company Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.