What Are the Three Best Golf Stocks to Buy in 2021?
Avid golfers will be glued to the TV this weekend watching the U.S. Open PGA Tour, which starts on June 17. Millions of people are tuning in to the national golf championship. Golfs popularity surged in 2020 because it was an activity that people could do outside and while maintaining social distance from others. According to the National Golf Foundation, the number of golfers in the U.S. grew by 500,000 in 2020, as reported by GolfDigest . About 6.2 million new players decided to pick up a club and the number of women golfers grew by 8 percent. The revenue from U.S. golf courses and country clubs is projected to reach about $24.7 billion by 2024, according to the website Statista . Golf is a thriving industry and, therefore, one that you might want to consider investing in. There arent a lot of golf companies that are publicly traded. Investors who love golf might consider putting their money behind these three best golf stocks in 2021. Article continues below advertisement  Callaway Golf Company (ELY) If youre a golfer, you know Callaway Golf Company for its high-end golf clubs and golf balls. The brand has been used by pro golfers Phil Mickelson, Stuart Appleby, Ernie Els, and Marc Leishman. The COVID-19 pandemic was good to Callaway. In May, the company reported $652 million in revenue for the first quarter of 2021, which is a 47 percent increase from a year ago. The company also merged with the virtual driving range company Topgolf in March. Article continues below advertisement  Analysts forecast that Callaway shares could climb to $45 within the next 12 months. Callaway is currently trading at $33.41. Acushnet Holdings Corp. (GOLF) Acushnet Holdings Corp. is responsible for many of the top golf products on the market, including the Titleist brand golf equipment. Its other brands include FootJoy golf wear, Vokey Design wedges, Scotty Cameron putters, Pinnacle golf balls, and KJUS ski wear. Article continues below advertisement  The first quarter of 2021 was also profitable for Acushnet. The companys net sales of $581 million were 42 percent higher than the year prior. Analysts forecast the Acushnet stock could get to $56 in the next 12 months. The GOLF stock is currently trading at $47.77 per share. Acushnet also gives investors a 1.25 percent dividend yield. Source: Getty Images  Article continues below advertisement  Dicks Sporting Goods (DKS) Although mostly known as an overall sporting goods retailer, Dicks Sporting Goods also has a hand in the golf world. Dicks has owned the Golf Galaxy franchise since 2006 and purchased golf specialty retailer Golfsmith in 2016. In May, the company announced that it was opening 36 new Golf Galaxy stores. Golf Galaxy has 98 locations in 33 states. Shares of Dicks Sporting Goods are currently trading at $90.73, but analysts predict that it could go as high as $142 per share. The average target price is $106.40.