Acushnet (NYSE:GOLF) Sets New 1-Year High – Time to Buy?

Acushnet (NYSE:GOLF)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $95.81 and last traded at $94.3950, with a volume of 81057 shares changing hands. The stock had previously closed at $94.85.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GOLF shares. KeyCorp reaffirmed a “sector weight” rating on shares of Acushnet in a research note on Friday, January 16th. Truist Financial raised their price objective on Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Morgan Stanley boosted their target price on Acushnet from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 22nd. Roth Mkm reissued a “neutral” rating and set a $80.00 price target on shares of Acushnet in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. upgraded shares of Acushnet from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $74.00 to $96.00 in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $84.33.

Acushnet Stock Down 0.3%

The company has a current ratio of 2.42, a quick ratio of 1.30 and a debt-to-equity ratio of 1.03. The firm has a market cap of $5.55 billion, a PE ratio of 25.85 and a beta of 0.88. The business’s 50-day simple moving average is $85.36 and its 200 day simple moving average is $80.92.

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

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, December 5th. Acushnet’s payout ratio is presently 25.68%.

Insider Transactions at Acushnet

In other news, CEO David Eugene Maher sold 26,939 shares of Acushnet stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $79.33, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction 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 transaction, the insider directly owned 76,006 shares in the company, valued at $6,434,667.96. This represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 71,460 shares of company stock worth $5,786,311. 53.60% of the stock is owned by corporate insiders.

Institutional Trading of Acushnet

A number of institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. increased its position in Acushnet by 389.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock valued at $26,000 after buying an additional 261 shares in the last quarter. Kelleher Financial Advisors acquired a new position in shares of Acushnet during the third quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its position in shares of Acushnet by 149.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after purchasing an additional 295 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Acushnet by 83.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock valued at $39,000 after purchasing an additional 246 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in Acushnet by 57.3% in the 3rd quarter. Allworth Financial LP now owns 505 shares of the company’s stock worth $40,000 after purchasing an additional 184 shares in the last quarter. Institutional investors and hedge funds 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.