Acushnet (NYSE:GOLF) Hits New 1-Year High – Should You Buy?

Acushnet (NYSE:GOLF)’s share price hit a new 52-week high on Monday . The company traded as high as $103.19 and last traded at $102.6150, with a volume of 11703 shares traded. The stock had previously closed at $101.54.

Analyst Ratings Changes

GOLF has been the subject of several recent research reports. Zacks Research raised Acushnet from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. KeyCorp reissued a “sector weight” rating on shares of Acushnet in a research report on Friday, January 16th. JPMorgan Chase & Co. upgraded Acushnet from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $74.00 to $96.00 in a research note on Friday, January 23rd. Morgan Stanley lifted their target price on Acushnet from $90.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, January 22nd. Finally, Roth Mkm restated a “neutral” rating and set a $80.00 target price on shares of Acushnet in a research report on Thursday, November 6th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $84.33.

Acushnet Price Performance

The firm’s fifty day simple moving average is $87.98 and its 200-day simple moving average is $81.94. The firm has a market capitalization of $6.01 billion, a PE ratio of 28.01 and a beta of 0.89. The company has a quick ratio of 1.30, a current ratio of 2.42 and a debt-to-equity ratio of 1.03.

Insider Buying and Selling

In other Acushnet news, CEO David Eugene Maher sold 26,939 shares of Acushnet stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 852,092 shares of the company’s stock, valued at $67,596,458.36. This trade represents a 3.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven Francis Pelisek sold 20,000 shares of the firm’s stock in a transaction dated 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 position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 71,460 shares of company stock worth $5,786,311. Corporate insiders own 53.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. boosted its holdings 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 acquiring an additional 261 shares during the period. Kelleher Financial Advisors purchased a new position in Acushnet during the 3rd quarter worth $28,000. EverSource Wealth Advisors LLC grew its stake 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 holdings in Acushnet by 83.7% during the second quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock worth $39,000 after purchasing an additional 246 shares in the last quarter. Finally, Allworth Financial LP raised its position in Acushnet by 57.3% in the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock worth $40,000 after acquiring 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.