Acushnet (NYSE:GOLF) Sets New 52-Week High – Here’s Why

Acushnet (NYSE:GOLF)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $111.21 and last traded at $109.13, with a volume of 9689 shares. The stock had previously closed at $108.06.

Analyst Ratings Changes

GOLF has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of Acushnet in a report on Thursday, February 26th. UBS Group set a $100.00 price objective on shares of Acushnet in a research note on Thursday, February 26th. Weiss Ratings downgraded Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 27th. Roth Mkm set a $87.00 price objective on Acushnet in a research note on Thursday, May 7th. Finally, Truist Financial boosted their price objective on Acushnet from $95.00 to $97.00 and gave the company 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. According to MarketBeat.com, Acushnet currently has a consensus rating of “Hold” and a consensus price target of $94.17.

Acushnet Trading Up 1.8%

The company’s 50-day moving average price is $93.83 and its 200-day moving average price is $92.91. 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 has a market cap of $6.44 billion, a price-to-earnings ratio of 38.60 and a beta of 0.85.

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

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, June 5th. Acushnet’s dividend payout ratio (DPR) is currently 35.92%.

Insider Transactions at Acushnet

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GOLF. Oregon Public Employees Retirement Fund lifted its holdings in Acushnet by 1.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,300 shares of the company’s stock worth $503,000 after buying an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Acushnet by 3.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,213 shares of the company’s stock worth $336,000 after acquiring an additional 133 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Acushnet by 2.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,779 shares of the company’s stock worth $461,000 after acquiring an additional 135 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Acushnet by 2.0% during the third quarter. PNC Financial Services Group Inc. now owns 7,046 shares of the company’s stock worth $553,000 after acquiring an additional 140 shares during the period. Finally, Illinois Municipal Retirement Fund raised its stake in shares of Acushnet by 1.0% in the first quarter. Illinois Municipal Retirement Fund now owns 15,021 shares of the company’s stock valued at $1,404,000 after acquiring an additional 142 shares in the last quarter. Hedge funds and other 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.