In this article, we discuss 3 best golf stocks to buy now. If you want to see more stocks in this selection, check out 6 Best Golf Stocks to Buy Now.
3. Topgolf Callaway Brands Corp. (NYSE:MODG)
Number of Hedge Fund Holders: 29
Topgolf Callaway Brands Corp. (NYSE:MODG) is a California-based global sports equipment manufacturing company that designs, manufactures, and sells golf equipment, such as clubs, balls, bags, gloves, and caps. It is one of the best golf stocks to consider. Topgolf Callaway Brands Corp. (NYSE:MODG) also manufactures golf clothing and shoes through its subsidiaries. In 2021, Callaway Golf purchased Topgolf and rebranded as Topgolf Callaway Brands Corp. (NYSE:MODG). The company also operates a network of golf-related amusement centers.
On October 10, B. Riley analyst Eric Wold assumed coverage of Topgolf Callaway Brands Corp. (NYSE:MODG) with a Buy rating and a $29 price target. The analyst expects traditional golf participation to benefit from “long-term tailwinds following the incremental pandemic boost” and also sees the company’s pairing with Topgolf as a natural fit to generate resilient profitability and growth “as cross-promotion opportunities into traditional golf and apparel come into play.”
According to Insider Monkey’s data, 29 hedge funds were bullish on Topgolf Callaway Brands Corp. (NYSE:MODG) at the end of June 2022, and Dmitry Balyasny’s Balyasny Asset Management is a prominent stakeholder of the company, with 1.85 million shares worth $37.8 million.
2. Acushnet Holdings Corp. (NYSE:GOLF)
Number of Hedge Fund Holders: 11
Next on our list of the best golf stocks is Acushnet Holdings Corp. (NYSE:GOLF), which designs, manufactures, and sells golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. It operates through four segments – Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear. For the full-year 2022, Acushnet Holdings Corp. (NYSE:GOLF) expects consolidated net sales to be approximately $2.2 billion to $2.25 billion, versus the earlier forecast of $2.175 billion to $2.225 billion. Street consensus came in at $2.21 billion.
On October 5, Truist analyst Michael Swartz reiterated a Hold rating and lowered the price target on the shares to $48 from $50 as part of a broader research note on Recreation & Leisure. The analyst updated his model to factor in the effect of higher interest rates and a stronger U.S. dollar over the last 60 days.
According to Insider Monkey’s Q2 data, 11 hedge funds were bullish on Acushnet Holdings Corp. (NYSE:GOLF), compared to 18 funds in the last quarter. D E Shaw is the biggest position holder in the company, with 272,435 shares worth $11.35 million.
1. Sturm, Ruger & Company, Inc. (NYSE:RGR)
Number of Hedge Fund Holders: 14
Sturm, Ruger & Company, Inc. (NYSE:RGR) is a Connecticut-based company that manufactures and sells firearms under the Ruger trademark in the United States. Its subsidiary, Ruger Golf, manufactures steel and titanium castings for golf clubs made by a number of different brands. Sturm, Ruger & Company, Inc. (NYSE:RGR) features as one of the best golf stocks. It may be well-positioned to deliver surprises on both the top and bottom lines in Q3 2022 and Q4 2022.
According to Insider Monkey’s second quarter database, 14 hedge funds held stakes worth $90.5 million in Sturm, Ruger & Company, Inc. (NYSE:RGR), compared to 15 funds in the prior quarter worth $96.2 million. Jim Simons’ Renaissance Technologies is the leading position holder in the company, with 1.10 million shares valued at $70 million.
You can also take a look at 10 Best Gig Economy Stocks For the Short Term and Top 10 High Dividend Stocks To Buy Now.
