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

Acushnet Holdings Corp. (NYSE:GOLF)’s share price hit 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 trading hands. The stock had previously closed at $75.78.

Analysts Set New Price Targets

Separately, Truist Financial upped their price target on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note 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 current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The business has a fifty day moving average price of $72.05 and a 200 day moving average price of $67.66.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $620.50 million during the quarter, compared to analysts’ expectations of $620.40 million. During the same period last year, the firm earned $0.85 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts forecast 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. Shareholders of record on Friday, December 6th were given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Friday, December 6th. Acushnet’s payout ratio is 29.25%.

Insiders Place Their Bets

In related news, insider Christopher Aaron Lindner sold 5,000 shares of Acushnet stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.91, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 54.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its holdings in Acushnet by 6.7% in the third quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock valued at $64,632,000 after buying an additional 63,294 shares during the last quarter. FMR LLC boosted its stake in Acushnet by 2.5% during the 3rd quarter. FMR LLC now owns 441,069 shares of the company’s stock valued at $28,118,000 after purchasing an additional 10,762 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Acushnet during the 3rd quarter valued at $1,443,000. Tidal Investments LLC bought a new stake in shares of Acushnet during the 3rd quarter worth $508,000. Finally, Raymond James & Associates boosted its stake in shares of Acushnet by 0.9% during the 3rd quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock worth $29,714,000 after acquiring an additional 4,300 shares in the last quarter. Institutional investors and hedge funds 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.