On Tuesday the Relative Strength (RS) Rating for Acushnet Holdings shot up to 82, from 74 on Monday. The maker of golf products continues to put up strong profit scores, making it an outstanding stock, vying for the equivalent of golf's green jacket, the ultimate symbol of success for golfers who win the Masters Tournament.
The 82 RS Rating tell you that Acushnet stock bested 82% of all stocks, regardless of industry, over the last 12 months. It's notable because market research shows that the top-performing stocks often have an 80 or better RS Rating as they launch their biggest climbs.
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Acushnet Stock A 'Steady Eddie' Play
Fairhaven, Mass.-based Acushnet designs, manufactures and distributes golf products and related accessories globally. Its brands include Titleist golf balls, golf bags and other gear; Vokey Design wedges and Scotty Cameron putters, among others.
Among its other ratings its boasts a 95 Earnings Per Share Rating, out of 99. It has an 83 Composite Rating and a C Accumulation/Distribution Rating, showing that about as many funds are buying its shares as selling.
Acushnet reported 20% earnings growth last quarter, to $1.09 per share. The previous three quarters it reported 38% growth, a reversal from a 36-cent loss a year earlier to a 1-cent loss and then 24% growth.
Revenue grew steadily over that period too, albeit at a slower pace. It grew 7%, 6%, 13% and 5% last quarter, to $689.4 million. Look for the next report on or around Nov. 2.
Acushnet stock is one of those "steady Eddie" type stocks that can be counted on over time. Shortly after Acushnet went public in late 2016 it traded for 17.41. By mid-January 2020 it had roughly doubled to close at 32.34.
On Aug. 4 this year it hit 61.98, having nearly doubled again. It took a breather from there but on Tuesday was driving down the fairway again, as it shot up 3.9% to 53.92.
Among Top 5 In Group
While now is not an ideal time to buy shares, see if the stock is able to establish and form a fresh base such as a three weeks tight or cup with handle and enter a buy zone in heavy trade.
Acushnet stock holds the No. 3 rank among its peers in the Leisure-Products industry group, according to IBD Stock Checkup. Canada-based powersports vehicle maker BRP is No. 2 in the group and powerboats maker Marine Products is No. 1.
When researching the best stocks to buy and watch, a stock's relative price strength vs. other stocks is a telling indicator.
This exclusive Relative Strength Rating from Investor's Business Daily identifies price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
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