Acushnet (NYSE:GOLF) Sets New 1-Year High – Here’s Why

Acushnet Holdings Corp. (NYSE:GOLF)’s share price 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 changing hands. The stock had previously closed at $74.21.

Analyst Ratings Changes

GOLF has been the topic of several analyst reports. Truist Financial raised their price target on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Compass Point decreased their price objective on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Jefferies Financial Group downgraded Acushnet from a “buy” rating to a “hold” rating and cut their target price for the company from $86.00 to $75.00 in a research note on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $71.40.

Acushnet Trading Down 1.3 %

The business’s 50 day moving average price is $65.00 and its two-hundred day moving average price is $65.39. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 25.33 and a beta of 0.85.

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

Acushnet Announces Dividend

The firm 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. This represents a $0.86 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, December 6th. Acushnet’s dividend payout ratio (DPR) is presently 29.25%.

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Christopher Aaron Lindner sold 5,000 shares of Acushnet stock in a transaction that occurred 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 transaction, the insider now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 54.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Acushnet

Several large investors have recently modified their holdings of GOLF. Wedbush Securities Inc. lifted its position in shares of Acushnet by 5.2% in the 2nd quarter. Wedbush Securities Inc. now owns 3,535 shares of the company’s stock valued at $224,000 after acquiring an additional 176 shares in the last quarter. SkyView Investment Advisors LLC lifted its holdings in shares of Acushnet by 0.9% in the second quarter. SkyView Investment Advisors LLC now owns 20,396 shares of the company’s stock valued at $1,295,000 after purchasing an additional 187 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its position in shares of Acushnet by 2.0% in the third quarter. Azzad Asset Management Inc. ADV now owns 10,221 shares of the company’s stock worth $652,000 after buying an additional 204 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of Acushnet by 8.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,478 shares of the company’s stock worth $221,000 after buying an additional 260 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Acushnet by 7.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,898 shares of the company’s stock valued at $257,000 after buying an additional 269 shares in the last quarter. 53.12% of the stock is owned by institutional investors.

Acushnet Company Profile

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.