Acushnet (NYSE:GOLF) Hits New 12-Month High – Should You Buy?

Acushnet (NYSE:GOLF) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $88.45 and last traded at $88.92, with a volume of 11280 shares. The stock had previously closed at $88.00.

Analyst Ratings Changes

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

Acushnet Trading Up 0.5%

The stock has a market cap of $5.19 billion, a P/E ratio of 24.13 and a beta of 0.88. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.42 and a quick ratio of 1.30. The firm’s 50 day moving average price is $82.45 and its 200-day moving average price is $79.64.

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 the consensus estimate of $0.85 by ($0.04). The business had revenue of $657.66 million during the quarter, compared to the consensus estimate of $632.76 million. Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $0.89 earnings per share. As a group, equities research analysts forecast that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

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

Insider Activity

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were 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. This represents a 20.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Eugene Maher sold 26,939 shares of Acushnet stock in a transaction that occurred on Friday, November 14th. The stock was 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 of the company’s stock, valued at $67,596,458.36. This represents a 3.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 71,460 shares of company stock worth $5,786,311 in the last 90 days. Company insiders own 53.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GOLF. Royal Bank of Canada grew its position in shares of Acushnet by 6.6% during the 1st quarter. Royal Bank of Canada now owns 88,703 shares of the company’s stock valued at $6,090,000 after acquiring an additional 5,510 shares during the period. AQR Capital Management LLC increased its position in Acushnet by 2.5% in the first quarter. AQR Capital Management LLC now owns 19,498 shares of the company’s stock worth $1,339,000 after buying an additional 475 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in Acushnet by 13.5% in the first quarter. Integrated Wealth Concepts LLC now owns 4,603 shares of the company’s stock worth $316,000 after buying an additional 548 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Acushnet by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,560 shares of the company’s stock worth $1,137,000 after buying an additional 460 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Acushnet by 39.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 249,807 shares of the company’s stock valued at $17,152,000 after buying an additional 70,095 shares in the last quarter. 53.12% of the stock is currently 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.