Acushnet (NYSE:GOLF) Sets New 52-Week High – Still a Buy?

Shares of Acushnet (NYSE:GOLF) reached a new 52-week high during trading on Thursday . The company traded as high as $106.85 and last traded at $107.6610, with a volume of 55839 shares traded. The stock had previously closed at $100.49.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GOLF. Roth Mkm set a $87.00 price target on shares of Acushnet in a research report on Thursday, May 7th. UBS Group set a $100.00 target price on shares of Acushnet in a research note on Thursday, February 26th. Truist Financial upped their price objective on Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research report on Tuesday, May 19th. Weiss Ratings downgraded Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Acushnet in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.17.

Acushnet Price Performance

The stock has a market capitalization of $6.24 billion, a PE ratio of 37.48 and a beta of 0.85. The stock’s 50-day moving average is $93.01 and its 200 day moving average is $92.24. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.59 and a current ratio of 2.87.

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

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, June 5th. Acushnet’s dividend payout ratio (DPR) is 35.92%.

Insider Activity

In other Acushnet news, insider Steven Francis Pelisek sold 15,000 shares of the firm’s stock in a transaction dated 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 directly owned 70,512 shares in the company, valued at approximately $6,434,925.12. This trade represents a 17.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $50,255.00. Following the transaction, the insider owned 2,868 shares of the company’s stock, valued at $272,460. This trade represents a 15.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 53.30% of the company’s stock.

Hedge Funds Weigh In On Acushnet

Several hedge funds have recently added to or reduced their stakes in GOLF. Fisher Asset Management LLC increased its holdings in Acushnet by 238.0% during the 3rd quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock valued at $55,269,000 after acquiring an additional 495,794 shares in the last quarter. Morgan Stanley grew its holdings in shares of Acushnet by 22.3% during the fourth quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock worth $110,091,000 after buying an additional 251,889 shares in the last quarter. M&T Bank Corp grew its holdings in shares of Acushnet by 668.1% during the fourth quarter. M&T Bank Corp now owns 159,874 shares of the company’s stock worth $12,761,000 after buying an additional 139,060 shares in the last quarter. Neumeier Poma Investment Counsel LLC lifted its position in Acushnet by 51.7% during the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 384,424 shares of the company’s stock valued at $30,685,000 after buying an additional 130,990 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Acushnet by 8.5% during the fourth quarter. Capital Research Global Investors now owns 1,465,000 shares of the company’s stock worth $116,936,000 after purchasing an additional 115,000 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.