Acushnet (NYSE:GOLF) Sets New 52-Week High – What’s Next?

Shares of Acushnet Holdings Corp. (NYSE:GOLF) reached a new 52-week high 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.

Analyst Ratings Changes

Several brokerages have recently weighed in on GOLF. Truist Financial raised their price target on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a report on Friday, November 8th. Compass Point decreased their target price on shares of 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 cut shares of Acushnet from a “buy” rating to a “hold” rating and cut their price target for the company from $86.00 to $75.00 in a report on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $71.40.

Acushnet Trading Up 3.0 %

The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $4.65 billion, a PE ratio of 25.27 and a beta of 0.85. The stock’s fifty day simple moving average is $64.79 and its 200 day simple moving average is $65.32.

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

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.215 per share. The ex-dividend date is Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.13%. Acushnet’s payout ratio is currently 29.25%.

Institutional Investors Weigh In On Acushnet

A number of institutional investors and hedge funds have recently bought and sold shares of GOLF. New Covenant Trust Company N.A. purchased a new stake in shares of Acushnet during the first quarter worth about $27,000. Brown Lisle Cummings Inc. purchased a new position in shares of Acushnet in the third quarter valued at $40,000. Prospera Private Wealth LLC bought a new stake in Acushnet in the third quarter worth $41,000. nVerses Capital LLC purchased a new stake in Acushnet during the third quarter valued at $57,000. Finally, Quarry LP lifted its position in Acushnet by 745.6% during the third quarter. Quarry LP now owns 1,057 shares of the company’s stock valued at $67,000 after purchasing an additional 932 shares during 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.