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

Acushnet Holdings Corp. (NYSE:GOLF) hit 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.

Wall Street Analyst Weigh In

GOLF has been the subject of a number of research analyst reports. Truist Financial lifted their target price 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. Jefferies Financial Group lowered shares of Acushnet from a “buy” rating to a “hold” rating and reduced their target price for the stock from $86.00 to $75.00 in a research report on Tuesday, September 17th. Finally, Compass Point decreased their price objective on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $71.40.

Acushnet Trading Up 3.0 %

The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average price is $64.79 and its 200-day moving average price is $65.32. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 25.27 and a beta of 0.85.

Acushnet (NYSE:GOLF) last released its 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. The firm had revenue of $620.50 million for the quarter, compared to analysts’ expectations of $620.40 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 earnings per share. On average, equities analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company 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 dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a yield of 1.13%. Acushnet’s dividend payout ratio (DPR) is currently 29.25%.

Hedge Funds Weigh In On Acushnet

A number of institutional investors and hedge funds have recently modified their holdings of the business. New Covenant Trust Company N.A. bought a new position in shares of Acushnet in the 1st quarter worth $27,000. Brown Lisle Cummings Inc. bought a new stake in shares of Acushnet in the 3rd quarter worth $40,000. Prospera Private Wealth LLC purchased a new stake in shares of Acushnet during the third quarter valued at approximately $41,000. nVerses Capital LLC bought a new stake in Acushnet during the third quarter worth $57,000. Finally, Quarry LP grew its stake in Acushnet by 745.6% in the 3rd 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 period. 53.12% of the stock is currently owned by institutional investors.

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.