Acushnet (NYSE:GOLF) Sets New 1-Year High – Still a Buy?

Shares of Acushnet (NYSE:GOLF) hit a new 52-week high during trading on Tuesday . The company traded as high as $118.71 and last traded at $118.5250, with a volume of 372269 shares traded. The stock had previously closed at $117.35.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Roth Mkm set a $87.00 price target on shares of Acushnet in a research note on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday. Weiss Ratings downgraded Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. Finally, Truist Financial upped their target price on Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $97.83.

Acushnet Price Performance

The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36. The firm’s 50-day moving average price is $95.20 and its two-hundred day moving average price is $93.78. The stock has a market cap of $6.94 billion, a PE ratio of 41.73 and a beta of 0.85.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.02). The business had revenue of $752.98 million for the quarter, compared to analysts’ expectations of $722.48 million. Acushnet had a net margin of 6.54% and a return on equity of 22.95%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 earnings per share. On average, equities analysts expect that Acushnet will post 3.82 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.02 dividend on an annualized basis and a yield of 0.9%. Acushnet’s dividend payout ratio (DPR) is presently 35.92%.

Insider Activity

In other news, insider Nicholas N. Mohamed sold 529 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $95.00, for a total value of $50,255.00. Following the sale, the insider directly owned 2,868 shares in the company, valued at approximately $272,460. This trade represents a 15.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Francis Pelisek sold 15,000 shares of Acushnet stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the completion of the transaction, the insider directly owned 70,512 shares in the company, valued at approximately $6,434,925.12. The trade was a 17.54% decrease in their position. The SEC filing for this sale provides additional information. 53.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Acushnet

Institutional investors have recently bought and sold shares of the company. Millstone Evans Group LLC lifted its holdings in shares of Acushnet by 170.2% during the 1st quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock valued at $26,000 after purchasing an additional 177 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in Acushnet by 389.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after buying an additional 261 shares during the last quarter. Kelleher Financial Advisors purchased a new position in Acushnet during the 3rd quarter worth $28,000. EverSource Wealth Advisors LLC increased its position in Acushnet by 149.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after buying an additional 295 shares in the last quarter. Finally, Allworth Financial LP increased its position in Acushnet by 57.3% during the 3rd quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after buying an additional 184 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

About Acushnet

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.