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

Acushnet (NYSE:GOLF - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $82.88 and last traded at $82.46, with a volume of 590885 shares. The stock had previously closed at $80.90.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GOLF. Compass Point downgraded shares of Acushnet from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $80.00 to $71.00 in a report on Monday, May 5th. 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 report on Thursday, May 8th. KeyCorp reiterated an "overweight" rating and set a $80.00 price target (up from $75.00) on shares of Acushnet in a report on Friday, June 27th. Finally, 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 report on Friday, July 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $72.50.

Acushnet Stock Up 0.0%

The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 22.83 and a beta of 0.84. The stock has a fifty day moving average of $73.87 and a two-hundred day moving average of $68.92. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.21 and a quick ratio of 1.21.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $0.30. The business had revenue of $703.37 million during the quarter, compared to the consensus estimate of $697.82 million. Acushnet had a return on equity of 26.81% and a net margin of 9.21%. Acushnet's quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.35 earnings per share. Sell-side analysts anticipate that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a yield of 1.14%. Acushnet's dividend payout ratio (DPR) is currently 26.11%.

Insider Buying and Selling

In other Acushnet news, Director Holdings Corp. Misto sold 953,406 shares of the company's stock in a transaction 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 sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 53.60% of the company's stock.

Institutional Trading of Acushnet

A number of institutional investors have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky bought a new position in shares of Acushnet during the 1st quarter worth about $629,000. Praxis Investment Management Inc. bought a new position in shares of Acushnet during the 1st quarter worth about $290,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Acushnet by 6.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company's stock worth $240,000 after purchasing an additional 203 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Acushnet by 783.2% during the 1st quarter. SG Americas Securities LLC now owns 17,391 shares of the company's stock worth $1,194,000 after purchasing an additional 15,422 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Acushnet by 89.6% during the 1st quarter. Rhumbline Advisers now owns 78,007 shares of the company's stock worth $5,356,000 after purchasing an additional 36,865 shares in the last quarter. 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.