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

Acushnet Holdings Corp. (NYSE:GOLF)’s stock price reached a new 52-week high during mid-day trading 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GOLF shares. Truist Financial lifted their price objective on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. cut Acushnet from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $69.00 to $64.00 in a research report on Thursday.

Acushnet Trading Down 1.2 %

The company has a 50-day moving average of $72.22 and a 200 day moving average of $67.85. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The company has a market cap of $4.08 billion, a PE ratio of 22.85 and a beta of 0.88.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. The company had revenue of $620.50 million during the quarter, compared to analysts’ expectations of $620.40 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 EPS. Analysts predict that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Friday, December 6th. Acushnet’s dividend payout ratio (DPR) is presently 29.25%.

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Christopher Aaron Lindner sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $73.91, for a total transaction of $369,550.00. Following the completion of the transaction, the insider now directly owns 88,710 shares of the company’s stock, valued at approximately $6,556,556.10. This trade represents a 5.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 54.60% of the company’s stock.

Hedge Funds Weigh In On Acushnet

Several institutional investors and hedge funds have recently modified their holdings of the business. Berry Wealth Group LP purchased a new position in Acushnet during the fourth quarter worth approximately $202,000. Blue Trust Inc. raised its holdings in shares of Acushnet by 100.6% during the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after acquiring an additional 176 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Acushnet by 34.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,662 shares of the company’s stock worth $331,000 after acquiring an additional 1,187 shares during the period. Heritage Family Offices LLP acquired a new position in shares of Acushnet during the 4th quarter valued at about $205,000. Finally, PFW Advisors LLC purchased a new stake in shares of Acushnet in the fourth quarter valued at about $264,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Acushnet Company Profile

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.