Acushnet (NYSE:GOLF) Sets New 12-Month High – Still a Buy?

Acushnet Holdings Corp. (NYSE:GOLF) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $76.40 and last traded at $76.40, with a volume of 369 shares traded. The stock had previously closed at $74.21.

Analysts Set New Price Targets

Several research firms recently commented on GOLF. Compass Point lowered their price objective on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Jefferies Financial Group lowered shares of Acushnet from a “buy” rating to a “hold” rating and decreased their target price for the company from $86.00 to $75.00 in a research note on Tuesday, September 17th. Finally, Truist Financial upped their price target on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $71.40.

Acushnet Stock Down 1.3 %

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 stock has a market cap of $4.43 billion, a price-to-earnings ratio of 25.33 and a beta of 0.85. The business has a fifty day moving average of $65.00 and a 200 day moving average of $65.39.

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

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.215 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.18%. Acushnet’s dividend payout ratio is currently 29.25%.

Insider Transactions at Acushnet

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $73.91, for a total value of $369,550.00. Following the completion of the sale, the insider now directly owns 88,710 shares in the company, valued at approximately $6,556,556.10. The trade was a 5.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 54.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in Acushnet by 871.1% in the 2nd quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock valued at $62,948,000 after buying an additional 889,515 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Acushnet by 702.1% in the third quarter. Jane Street Group LLC now owns 508,705 shares of the company’s stock worth $32,430,000 after acquiring an additional 445,281 shares during the last quarter. Point72 Asset Management L.P. increased its position in Acushnet by 258.9% during the third quarter. Point72 Asset Management L.P. now owns 266,200 shares of the company’s stock worth $16,970,000 after acquiring an additional 192,034 shares during the period. Eagle Asset Management Inc. increased its position in Acushnet by 133.0% during the third quarter. Eagle Asset Management Inc. now owns 298,958 shares of the company’s stock worth $19,059,000 after acquiring an additional 170,668 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Acushnet during the 3rd quarter valued at $7,986,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

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.