Acushnet (NYSE:GOLF) Reaches New 12-Month High – Here’s Why

Acushnet (NYSE:GOLF)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $103.19 and last traded at $102.6150, with a volume of 11703 shares traded. The stock had previously closed at $101.54.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Roth Mkm reiterated a “neutral” rating and set a $80.00 price objective on shares of Acushnet in a research report on Thursday, November 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Acushnet in a research note on Friday, January 16th. Zacks Research upgraded Acushnet from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. Morgan Stanley upped their target price on Acushnet from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. raised shares of Acushnet from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $74.00 to $96.00 in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Acushnet has a consensus rating of “Hold” and an average target price of $84.33.

Acushnet Trading Up 1.0%

The business has a fifty day moving average of $87.98 and a 200-day moving average of $81.94. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 28.01 and a beta of 0.89. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.42 and a quick ratio of 1.30.

Insiders Place Their Bets

In other Acushnet news, CEO David Eugene Maher sold 26,939 shares of Acushnet stock in a transaction dated 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 transaction, the chief executive officer owned 852,092 shares of the company’s stock, valued at $67,596,458.36. The trade was a 3.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 76,006 shares of the company’s stock, valued at $6,434,667.96. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 71,460 shares of company stock valued at $5,786,311 in the last quarter. 53.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Acushnet

Hedge funds and other institutional investors have recently modified their holdings of the company. 12th Street Asset Management Company LLC increased its position in Acushnet by 0.4% in the 4th quarter. 12th Street Asset Management Company LLC now owns 61,918 shares of the company’s stock worth $4,942,000 after purchasing an additional 254 shares during the last quarter. Hantz Financial Services Inc. grew its position in Acushnet by 320.5% in the fourth quarter. Hantz Financial Services Inc. now owns 656 shares of the company’s stock worth $52,000 after acquiring an additional 500 shares in the last quarter. Coldstream Capital Management Inc. acquired a new position in shares of Acushnet during the 4th quarter worth $234,000. ProShare Advisors LLC boosted its stake in shares of Acushnet by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 5,368 shares of the company’s stock worth $428,000 after acquiring an additional 166 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Acushnet by 3.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,213 shares of the company’s stock valued at $336,000 after acquiring an additional 133 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.