CNBC’s Jim Cramer on Thursday said investors should consider buying shares of Acushnet and tee-up for Callaway long-term. “Pure-play golf stocks have been obliterated here, and if you want to be opportunistic, especially in light of the [Masters Tournament], I like Acushnet more than Callaway, at least through the remainder of 2022,” the “Mad Money” host said. Many people turned…
Callaway stock decreased 0.98% on Thursday to $22.19, below its 52-week high of $37.75. Shares of Acushnet, which houses FootJoy and Titleist, dropped 0.39% on Thursday to $40.74, below its 52-week high of $57.87."tremendous sales and earnings growth last year," despite dealing with supply chain problems, he believes the stock is currently undervalued.
"Acushnet is selling for only 15 times this year's earnings estimates. I like that. It makes it as cheap as it's been at any point in the last two years. In short, I think this is a great moment to take a swing at Acushnet," Cramer said. As for Callaway, Cramer said while the stock is down, he's hesitant to advise investors to buy the stock in the current market because of its merger with sports entertainment company Topgolf in 2021.
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