Callaway Golf Co (ELY) Given Average Rating of “Hold” by Brokerages

Callaway Golf Co (NYSE:ELY) has received a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $23.20.

A number of equities research analysts have issued reports on ELY shares. Zacks Investment Research upgraded Callaway Golf from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Berenberg Bank started coverage on Callaway Golf in a research note on Wednesday, February 13th. They set a “buy” rating and a $24.00 price target for the company. Imperial Capital cut their price target on Callaway Golf from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, February 7th. Finally, Stephens started coverage on Callaway Golf in a research note on Tuesday, January 8th. They set an “equal weight” rating and a $17.00 price target for the company.

In related news, Director Russell L. Fleischer acquired 5,000 shares of the stock in a transaction dated Tuesday, February 12th. The shares were purchased at an average cost of $15.50 per share, with a total value of $77,500.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $77,500. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.97% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Hancock Whitney Corp lifted its position in shares of Callaway Golf by 3.5% during the 4th quarter. Hancock Whitney Corp now owns 145,933 shares of the company’s stock valued at $2,232,000 after buying an additional 4,894 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Callaway Golf by 2.4% during the 3rd quarter. Legal & General Group Plc now owns 211,084 shares of the company’s stock valued at $5,118,000 after buying an additional 4,925 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Callaway Golf by 35.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,338,764 shares of the company’s stock valued at $178,259,000 after buying an additional 1,929,680 shares in the last quarter. Quantamental Technologies LLC purchased a new position in shares of Callaway Golf during the 4th quarter valued at about $137,000. Finally, Citigroup Inc. lifted its position in shares of Callaway Golf by 130.4% during the 4th quarter. Citigroup Inc. now owns 136,782 shares of the company’s stock valued at $2,093,000 after buying an additional 77,407 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Callaway Golf stock traded down $0.63 during trading hours on Thursday, reaching $16.73. 1,220,800 shares of the stock traded hands, compared to its average volume of 1,031,622. The company has a market cap of $1.65 billion, a P/E ratio of 15.64, a P/E/G ratio of 0.69 and a beta of 1.06. Callaway Golf has a one year low of $14.44 and a one year high of $24.67. The company has a quick ratio of 0.62, a current ratio of 1.73 and a debt-to-equity ratio of 0.01.

Callaway Golf (NYSE:ELY) last released its quarterly earnings results on Wednesday, February 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.32). The business had revenue of $181.00 million during the quarter, compared to the consensus estimate of $176.35 million. Callaway Golf had a return on equity of 14.01% and a net margin of 8.43%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.15) EPS. Research analysts anticipate that Callaway Golf will post 1 EPS for the current fiscal year.

Callaway Golf Company Profile

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other. The Golf Clubs segment provides golf drivers and fairway woods, hybrids, irons and wedges, putters, packaged sets, and pre-owned golf clubs.

See Also: Compound Annual Growth Rate (CAGR)

Analyst Recommendations for Callaway Golf (NYSE:ELY)

Receive News & Ratings for Callaway Golf Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callaway Golf and related companies with MarketBeat.com's FREE daily email newsletter.