Acushnet (NYSE:GOLF) Sets New 1-Year High – Should You Buy?

Acushnet (NYSE:GOLF)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $119.65 and last traded at $116.8350, with a volume of 3328 shares changing hands. The stock had previously closed at $118.31.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GOLF shares. Weiss Ratings downgraded shares of Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. raised their price objective on shares of Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Truist Financial boosted their target price on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research report on Tuesday, May 19th. Finally, Roth Mkm set a $87.00 price target on Acushnet in a report on Thursday, May 7th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $97.83.

Acushnet Trading Down 1.0%

The company has a quick ratio of 1.59, a current ratio of 2.87 and a debt-to-equity ratio of 1.36. The firm’s 50 day moving average is $96.71 and its two-hundred day moving average is $94.70. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 40.83 and a beta of 0.80.

Acushnet (NYSE:GOLF) last issued its earnings results on Wednesday, May 6th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The company had revenue of $752.98 million during the quarter, compared to analyst estimates of $722.48 million. Acushnet had a net margin of 6.54% and a return on equity of 22.95%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.62 earnings per share. Equities analysts anticipate that Acushnet will post 3.82 EPS for the current year.

Acushnet Dividend Announcement

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 was Friday, June 5th. This represents a $1.02 dividend on an annualized basis and a yield of 0.9%. Acushnet’s payout ratio is currently 35.92%.

Insiders Place Their Bets

In other news, insider Steven Francis Pelisek sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were 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 owned 70,512 shares of the company’s stock, valued at approximately $6,434,925.12. The trade was a 17.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas N. Mohamed sold 529 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $50,255.00. Following the completion of 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 SEC filing for this sale provides additional information. 53.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GOLF. Millstone Evans Group LLC increased its stake in shares of Acushnet by 170.2% in the first 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 period. Brown Brothers Harriman & Co. boosted its position 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 acquiring an additional 261 shares during the period. Kelleher Financial Advisors bought a new position in shares of Acushnet in the third quarter worth $28,000. EverSource Wealth Advisors LLC grew its stake in shares of Acushnet by 149.7% in the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after purchasing an additional 295 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Acushnet by 57.3% during the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after purchasing an additional 184 shares during the period. Institutional investors own 53.12% of the company’s stock.

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.