Acushnet (NYSE:GOLF) Sets New 52-Week High at $70.10

Shares of Acushnet Holdings Corp. (NYSE:GOLF) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $70.10 and last traded at $69.38, with a volume of 47492 shares trading hands. The stock had previously closed at $69.32.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GOLF shares. Truist Financial boosted their price target on shares of Acushnet from $62.00 to $63.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $66.38.

Acushnet Stock Performance

The company has a market capitalization of $4.40 billion, a P/E ratio of 24.21 and a beta of 0.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.69 and a quick ratio of 1.46. The stock’s 50 day simple moving average is $64.27 and its two-hundred day simple moving average is $64.26.

Acushnet (NYSE:GOLF) last announced its earnings results on Tuesday, May 7th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.19. Acushnet had a net margin of 8.03% and a return on equity of 20.65%. The company had revenue of $707.55 million during the quarter, compared to the consensus estimate of $692.41 million. As a group, research analysts expect that Acushnet Holdings Corp. will post 3.12 earnings per share for the current year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Friday, June 7th. Acushnet’s dividend payout ratio (DPR) is 29.86%.

Insider Buying and Selling

In other news, Director Holdings Corp. Fila sold 587,520 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total value of $37,501,401.60. Following the transaction, the director now directly owns 32,522,966 shares of the company’s stock, valued at $2,075,940,919.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 54.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Acushnet

Large investors have recently modified their holdings of the stock. New Covenant Trust Company N.A. bought a new position in Acushnet during the first quarter worth about $27,000. Federated Hermes Inc. bought a new position in Acushnet during the fourth quarter worth about $32,000. Gladius Capital Management LP bought a new position in Acushnet during the fourth quarter worth about $37,000. Principal Securities Inc. acquired a new stake in Acushnet during the fourth quarter worth about $37,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Acushnet by 101.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock worth $76,000 after buying an additional 585 shares in the last quarter. 53.12% of the stock is owned by institutional investors.

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.