Acushnet (NYSE:GOLF) Sets New 12-Month High - Should You Buy?

Acushnet (NYSE:GOLF - Get Free Report) shares reached a new 52-week high on Thursday . The stock traded as high as $79.52 and last traded at $79.03, with a volume of 34740 shares traded. The stock had previously closed at $78.17.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Truist Financial upped their price target on shares of Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Morgan Stanley upped their price target on shares of Acushnet from $63.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Friday. KeyCorp reiterated an "overweight" rating and issued a $80.00 price objective (up previously from $75.00) on shares of Acushnet in a report on Friday, June 27th. Finally, Compass Point cut shares of Acushnet from a "buy" rating to a "neutral" rating and dropped their price target for the company from $80.00 to $71.00 in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Acushnet presently has an average rating of "Hold" and an average price target of $72.50.

Acushnet Trading Up 0.7%

The company has a debt-to-equity ratio of 1.19, a current ratio of 2.21 and a quick ratio of 1.21. The business's 50 day moving average price is $72.72 and its 200-day moving average price is $68.55. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 22.46 and a beta of 0.84.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.30. Acushnet had a net margin of 9.21% and a return on equity of 26.81%. The company had revenue of $703.37 million for the quarter, compared to the consensus estimate of $697.82 million. During the same quarter in the prior year, the firm earned $1.35 earnings per share. The company's revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts forecast that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Friday, June 6th. Acushnet's payout ratio is 26.11%.

Insider Activity

In related news, Director Holdings Corp. Misto sold 953,406 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the transaction, the director owned 29,523,653 shares of the company's stock, valued at approximately $1,935,570,690.68. This represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 53.60% of the company's stock.

Hedge Funds Weigh In On Acushnet

Several institutional investors and hedge funds have recently modified their holdings of GOLF. State of Alaska Department of Revenue boosted its holdings in shares of Acushnet by 3.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 15,746 shares of the company's stock valued at $1,146,000 after purchasing an additional 585 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Acushnet by 150.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,633 shares of the company's stock valued at $119,000 after purchasing an additional 982 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Acushnet by 89.6% in the 1st quarter. Rhumbline Advisers now owns 78,007 shares of the company's stock valued at $5,356,000 after purchasing an additional 36,865 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Acushnet by 61.2% in the 1st quarter. Jane Street Group LLC now owns 20,617 shares of the company's stock valued at $1,416,000 after purchasing an additional 7,831 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Acushnet by 1.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 91,537 shares of the company's stock valued at $6,285,000 after purchasing an additional 923 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.