Acushnet (NYSE:GOLF) Hits New 12-Month High - What's Next?

Acushnet Holdings Corp. (NYSE:GOLF - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $76.40 and last traded at $76.40, with a volume of 369 shares trading hands. The stock had previously closed at $74.21.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOLF. Compass Point reduced their target price on Acushnet from $78.00 to $76.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Truist Financial upped their price target on Acushnet from $65.00 to $68.00 and gave the stock a "hold" rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group cut Acushnet from a "buy" rating to a "hold" rating and reduced their price target for the stock from $86.00 to $75.00 in a research note on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $71.40.

Acushnet Stock Performance

The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The company has a 50 day moving average of $64.79 and a two-hundred day moving average of $65.32. The company has a market capitalization of $4.50 billion, a PE ratio of 25.27 and a beta of 0.85.

Acushnet (NYSE:GOLF - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $620.50 million for the quarter, compared to the consensus estimate of $620.40 million. During the same period in the previous year, the company posted $0.85 earnings per share. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities research analysts predict that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, December 6th. Acushnet's dividend payout ratio (DPR) is 29.25%.

Insiders Place Their Bets

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.91, for a total transaction of $369,550.00. Following the transaction, the insider now directly owns 88,710 shares of the company's stock, valued at $6,556,556.10. This represents a 5.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 54.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GOLF. Victory Capital Management Inc. lifted its holdings in shares of Acushnet by 871.1% during the second quarter. Victory Capital Management Inc. now owns 991,627 shares of the company's stock valued at $62,948,000 after purchasing an additional 889,515 shares in the last quarter. Jane Street Group LLC boosted its position in Acushnet by 702.1% in the third quarter. Jane Street Group LLC now owns 508,705 shares of the company's stock worth $32,430,000 after purchasing an additional 445,281 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Acushnet by 258.9% in the third quarter. Point72 Asset Management L.P. now owns 266,200 shares of the company's stock worth $16,970,000 after purchasing an additional 192,034 shares during the last quarter. Eagle Asset Management Inc. boosted its position in Acushnet by 133.0% in the third quarter. Eagle Asset Management Inc. now owns 298,958 shares of the company's stock worth $19,059,000 after purchasing an additional 170,668 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Acushnet in the third quarter worth about $7,986,000. 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.