Acushnet (NYSE:GOLF) Reaches New 12-Month High – Still a Buy?

Acushnet (NYSE:GOLF) reached a new 52-week high during trading on Tuesday . The company traded as high as $88.45 and last traded at $88.92, with a volume of 11280 shares. The stock had previously closed at $88.00.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOLF. Truist Financial increased their price objective on shares of Acushnet from $65.00 to $74.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. increased their price target on Acushnet from $67.00 to $74.00 and gave the stock an “underweight” rating in a research note on Monday, December 15th. KeyCorp boosted their price objective on Acushnet from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, October 8th. Finally, Roth Capital restated a “neutral” rating and issued a $80.00 price target on shares of Acushnet in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $78.17.

Acushnet Trading Up 0.5%

The firm has a market cap of $5.19 billion, a P/E ratio of 24.13 and a beta of 0.88. The stock has a 50 day simple moving average of $82.45 and a 200-day simple moving average of $79.64. The company has a current ratio of 2.42, a quick ratio of 1.30 and a debt-to-equity ratio of 1.03.

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

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a $0.235 dividend. The ex-dividend date was Friday, December 5th. This represents a $0.94 annualized dividend and a yield of 1.1%. Acushnet’s dividend payout ratio (DPR) is currently 25.68%.

Insider Buying and Selling

In other news, CEO David Eugene Maher sold 26,939 shares of the business’s stock in a transaction that occurred on 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 approximately $67,596,458.36. The trade was a 3.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction on Tuesday, November 25th. The shares were 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 $6,434,667.96. The trade was a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 71,460 shares of company stock worth $5,786,311. Company insiders own 53.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Curated Wealth Partners LLC boosted its stake in shares of Acushnet by 28.3% during the 4th quarter. Curated Wealth Partners LLC now owns 10,147 shares of the company’s stock worth $810,000 after purchasing an additional 2,239 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Acushnet in the fourth quarter worth about $216,000. GAMMA Investing LLC boosted its position in shares of Acushnet by 8.4% during the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $149,000 after buying an additional 144 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of Acushnet during the third quarter valued at approximately $5,382,000. Finally, Allworth Financial LP lifted its stake in shares of Acushnet by 57.3% during the 3rd quarter. Allworth Financial LP now owns 505 shares of the company’s stock worth $40,000 after acquiring an additional 184 shares during the last quarter. Institutional investors own 53.12% of the company’s stock.

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.