Acushnet (NYSE:GOLF) Hits New 52-Week High – Should You Buy?

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

Wall Street Analyst Weigh In

GOLF has been the subject of a number of research analyst reports. Truist Financial increased their price target 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. lowered Acushnet from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $69.00 to $64.00 in a research report on Thursday.

Acushnet Price Performance

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 firm has a market capitalization of $4.08 billion, a PE ratio of 22.85 and a beta of 0.88. The business’s 50 day moving average is $72.22 and its two-hundred day moving average is $67.85.

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

Acushnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Friday, December 6th. Acushnet’s dividend payout ratio (DPR) is currently 29.25%.

Insiders Place Their Bets

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the business’s stock in a transaction that occurred 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 directly owns 88,710 shares of the company’s stock, valued at approximately $6,556,556.10. The trade was a 5.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 54.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position in shares of 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 buying an additional 176 shares during the last quarter. Brown Lisle Cummings Inc. bought a new stake in shares of Acushnet in the third quarter worth approximately $40,000. Prospera Private Wealth LLC bought a new position in Acushnet during the third quarter valued at approximately $41,000. nVerses Capital LLC bought a new position in Acushnet during the third quarter valued at approximately $57,000. Finally, Quarry LP boosted its holdings in Acushnet by 745.6% in the third quarter. Quarry LP now owns 1,057 shares of the company’s stock worth $67,000 after purchasing an additional 932 shares during the last quarter. Hedge funds and other 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.