Brokerages Set Callaway Golf Co (ELY) PT at $23.20

Shares of Callaway Golf Co (NYSE:ELY) have received an average rating of “Hold” from the fifteen brokerages that are currently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $23.20.

A number of research firms have recently commented on ELY. Berenberg Bank reissued a “buy” rating and set a $24.00 target price on shares of Callaway Golf in a research note on Thursday, February 28th. Roth Capital cut shares of Callaway Golf from a “buy” rating to a “hold” rating and cut their target price for the stock from $24.00 to $17.00 in a research note on Monday, December 17th. Zacks Investment Research raised shares of Callaway Golf from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Stephens started coverage on shares of Callaway Golf in a research note on Tuesday, January 8th. They set an “equal weight” rating and a $17.00 price objective for the company. Finally, Compass Point raised shares of Callaway Golf from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 18th.

In other Callaway Golf news, Director Russell L. Fleischer acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 12th. The stock was bought at an average price of $15.50 per share, with a total value of $77,500.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $77,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.97% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Callaway Golf by 0.6% in the 4th quarter. BlackRock Inc. now owns 13,292,414 shares of the company’s stock valued at $203,375,000 after buying an additional 80,255 shares during the period. Vanguard Group Inc. grew its stake in shares of Callaway Golf by 35.7% in 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 during the period. Vanguard Group Inc grew its stake in shares of Callaway Golf by 35.7% in 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 during the period. FMR LLC grew its stake in shares of Callaway Golf by 0.7% in the 4th quarter. FMR LLC now owns 3,809,347 shares of the company’s stock valued at $58,283,000 after buying an additional 27,426 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Callaway Golf by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,611,484 shares of the company’s stock valued at $39,143,000 after buying an additional 4,130 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

Shares of ELY stock traded up $0.05 on Friday, reaching $16.55. 37,168 shares of the company were exchanged, compared to its average volume of 923,682. The stock has a market capitalization of $1.56 billion, a P/E ratio of 15.48, a P/E/G ratio of 0.66 and a beta of 1.04. 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 has a 1 year low of $14.44 and a 1 year high of $24.67.

Callaway Golf (NYSE:ELY) last released its earnings results on Wednesday, February 6th. The company reported ($0.32) EPS for the quarter, hitting analysts’ consensus estimates of ($0.32). The business had revenue of $181.00 million during the quarter, compared to analysts’ expectations of $176.35 million. Callaway Golf had a net margin of 8.43% and a return on equity of 14.01%. The company’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.15) earnings per share. On average, analysts expect that Callaway Golf will post 1 earnings per share for the current 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.

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Analyst Recommendations for Callaway Golf (NYSE:ELY)

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