Acushnet (NYSE:GOLF) Sets New 1-Year High - Should You Buy?

Key Points

• Acushnet shares hit a new 52-week high, reaching as high as $119.65 before easing slightly, despite modest trading volume. The move comes after a strong run that pushed the stock well above its 50-day and 200-day moving averages.
• Wall Street remains cautious overall: the consensus rating is “Hold” with an average price target of $97.83, even though JPMorgan recently raised its target to $118. Analysts note one Buy and seven Hold ratings on the stock.
• Acushnet recently reported mixed quarterly results, missing EPS estimates by $0.02 but beating revenue expectations with $752.98 million in sales, up 7.1% year over year. The company also paid a quarterly dividend of $0.255 per share, yielding about 0.9% annually.

Acushnet (NYSE:GOLF - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as $119.65 and last traded at $116.8350, with a volume of 3328 shares. The stock had previously closed at $118.31.

Analysts Set New Price Targets

A number of research firms have issued reports on GOLF. JPMorgan Chase & Co. boosted their price target on Acushnet from $96.00 to $118.00 and gave the company a "neutral" rating in a research report on Friday, June 26th. Roth Mkm set a $87.00 price objective on Acushnet in a research note on Thursday, May 7th. Weiss Ratings downgraded shares of Acushnet from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, May 27th. Finally, Truist Financial raised their price target on shares of Acushnet from $95.00 to $97.00 and gave the company a "hold" rating in a report on Tuesday, May 19th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $97.83.

Acushnet Stock Down 1.0%

The firm has a 50-day simple moving average of $96.71 and a 200 day simple moving average of $94.70. The company has a market capitalization of $6.82 billion, a PE ratio of 40.83 and a beta of 0.80. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.87 and a quick ratio of 1.59.

Acushnet (NYSE:GOLF - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.02). The company had revenue of $752.98 million during the quarter, compared to analysts' expectations of $722.48 million. Acushnet had a return on equity of 22.95% and a net margin of 6.54%.Acushnet's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 EPS. On average, research analysts predict that Acushnet will post 3.82 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were given a $0.255 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.02 annualized dividend and a yield of 0.9%. Acushnet's dividend payout ratio (DPR) is 35.92%.

Insider Buying and Selling

In related news, insider Steven Francis Pelisek sold 15,000 shares of the firm's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the completion of the sale, the insider directly owned 70,512 shares of the company's stock, valued at approximately $6,434,925.12. This trade represents a 17.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas N. Mohamed sold 529 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $50,255.00. Following the sale, the insider directly owned 2,868 shares of the company's stock, valued at approximately $272,460. The trade was a 15.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 53.30% of the company's stock.

Hedge Funds Weigh In On Acushnet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millstone Evans Group LLC increased its position in shares of Acushnet by 170.2% during the first quarter. Millstone Evans Group LLC now owns 281 shares of the company's stock worth $26,000 after acquiring an additional 177 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Acushnet by 389.6% in the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company's stock worth $26,000 after acquiring an additional 261 shares in the last quarter. Kelleher Financial Advisors purchased a new position in Acushnet in the third quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its stake in Acushnet by 149.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company's stock valued at $36,000 after purchasing an additional 295 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Acushnet by 57.3% during the 3rd quarter. Allworth Financial LP now owns 505 shares of the company's stock valued at $40,000 after purchasing an additional 184 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Acushnet Company Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company's portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet's product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.

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