Acushnet (NYSE:GOLF) Hits New 1-Year High – Time to Buy?

Acushnet (NYSE:GOLF) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $95.81 and last traded at $94.3950, with a volume of 81057 shares. The stock had previously closed at $94.85.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Roth Mkm reiterated a “neutral” rating and issued a $80.00 price objective on shares of Acushnet in a report on Thursday, November 6th. Zacks Research raised Acushnet from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. Morgan Stanley increased their price target on Acushnet from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, January 22nd. JPMorgan Chase & Co. raised Acushnet from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $74.00 to $96.00 in a research report on Friday, January 23rd. Finally, Truist Financial upped their target price on shares of Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $84.33.

Acushnet Stock Performance

The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.30 and a current ratio of 2.42. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 26.48 and a beta of 0.88. The firm has a 50-day simple moving average of $86.38 and a two-hundred day simple moving average of $81.25.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The business had revenue of $657.66 million during the quarter, compared to analysts’ expectations of $632.76 million. During the same period in the previous year, the business posted $0.89 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.0%. Acushnet’s dividend payout ratio is currently 25.68%.

Insider Buying and Selling at Acushnet

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

Institutional Trading of Acushnet

A number of large investors have recently made changes to their positions in the company. Raymond James Financial Inc. lifted its stake in Acushnet by 0.4% in the second quarter. Raymond James Financial Inc. now owns 952,453 shares of the company’s stock worth $69,358,000 after acquiring an additional 4,243 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Acushnet by 238.0% in the 3rd quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock valued at $55,269,000 after purchasing an additional 495,794 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Acushnet by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 662,194 shares of the company’s stock worth $48,227,000 after purchasing an additional 5,009 shares during the last quarter. Tributary Capital Management LLC lifted its position in shares of Acushnet by 92.6% during the 3rd quarter. Tributary Capital Management LLC now owns 457,490 shares of the company’s stock worth $35,908,000 after purchasing an additional 219,895 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Acushnet by 31.8% during the second quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock worth $33,312,000 after purchasing an additional 110,245 shares in the last quarter. 53.12% of the stock is currently owned by hedge funds and other 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.