Acushnet (NYSE:GOLF) Reaches New 52-Week High – Time to Buy?

Acushnet Holdings Corp. (NYSE:GOLF) shares reached a new 52-week high on Wednesday . The stock traded as high as $76.62 and last traded at $76.57, with a volume of 33191 shares changing hands. The stock had previously closed at $75.78.

Analysts Set New Price Targets

Separately, Truist Financial upped their price objective on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a report on Friday, November 8th.

Acushnet Trading Down 1.7 %

The firm has a market cap of $4.53 billion, a PE ratio of 25.35 and a beta of 0.88. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The stock has a 50-day simple moving average of $72.05 and a two-hundred day simple moving average of $67.66.

Acushnet (NYSE:GOLF) last released its earnings results on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $620.50 million during the quarter, compared to analyst estimates of $620.40 million. During the same period in the prior year, the firm posted $0.85 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.215 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a yield of 1.15%. Acushnet’s dividend payout ratio is presently 29.25%.

Insider Buying and Selling

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.91, for a total transaction of $369,550.00. Following the transaction, the insider now owns 88,710 shares in the company, valued at approximately $6,556,556.10. This trade represents a 5.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 54.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Acushnet

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in Acushnet by 100.6% during the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock valued at $25,000 after acquiring an additional 176 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new stake in shares of Acushnet during the third quarter worth approximately $40,000. Prospera Private Wealth LLC purchased a new stake in shares of Acushnet during the third quarter worth approximately $41,000. nVerses Capital LLC purchased a new stake in shares of Acushnet during the third quarter worth approximately $57,000. Finally, Quarry LP boosted its stake in Acushnet by 745.6% during the third quarter. Quarry LP now owns 1,057 shares of the company’s stock worth $67,000 after buying an additional 932 shares during the last quarter. Institutional investors own 53.12% of the company’s stock.

About Acushnet

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.