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

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Roth Capital set a $87.00 target price on shares of Acushnet in a research report on Thursday, May 7th. Weiss Ratings lowered Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. Truist Financial lifted their price target on Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. upped their price objective on Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $97.83.

Acushnet Stock Performance

The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.59 and a current ratio of 2.87. The firm has a market capitalization of $6.72 billion, a PE ratio of 40.40 and a beta of 0.80. The firm’s 50 day moving average price is $97.42 and its 200-day moving average price is $95.15.

Acushnet (NYSE:GOLF) last released its quarterly earnings results 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). The business had revenue of $752.98 million during the quarter, compared to analyst estimates of $722.48 million. Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 EPS. On average, research analysts expect that Acushnet will post 3.82 EPS for the current year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders 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 dividend yield of 0.9%. Acushnet’s dividend payout ratio (DPR) is 35.92%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Acushnet

Several institutional investors have recently bought and sold shares of the company. Millstone Evans Group LLC raised its holdings in shares of Acushnet by 170.2% during the first quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock valued at $26,000 after acquiring an additional 177 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Acushnet by 389.6% during the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after purchasing an additional 261 shares in the last quarter. Kelleher Financial Advisors acquired a new position in Acushnet in the 3rd quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its holdings in 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 in the last quarter. Finally, Allworth Financial LP lifted its holdings in Acushnet by 57.3% in the 3rd quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after purchasing an additional 184 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

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.