Callaway Golf Co (NYSE:ELY) Receives Consensus Recommendation of “Buy” from Analysts

Callaway Golf Co (NYSE:ELY) has earned a consensus rating of “Buy” from the fourteen analysts that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $23.09.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Farmland Partners from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. Berenberg Bank reiterated a “buy” rating and issued a $24.00 price target on shares of Callaway Golf in a research report on Sunday, May 12th. Roth Capital set a $75.00 price target on shares of First Solar and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, ValuEngine upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Friday, July 12th.

In other news, CEO Oliver G. Brewer III acquired 10,000 shares of the stock in a transaction on Monday, May 20th. The stock was acquired at an average cost of $15.14 per share, for a total transaction of $151,400.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Russell L. Fleischer acquired 5,000 shares of the stock in a transaction on Thursday, May 23rd. The shares were purchased at an average price of $14.75 per share, with a total value of $73,750.00. Following the completion of the transaction, the director now owns 15,859 shares of the company’s stock, valued at $233,920.25. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 21,575 shares of company stock valued at $324,630. 1.97% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Hancock Whitney Corp raised its position in Callaway Golf by 3.5% during the fourth quarter. Hancock Whitney Corp now owns 145,933 shares of the company’s stock valued at $2,232,000 after purchasing an additional 4,894 shares in the last quarter. Geode Capital Management LLC raised its position in Callaway Golf by 9.2% during the fourth quarter. Geode Capital Management LLC now owns 943,292 shares of the company’s stock valued at $14,432,000 after purchasing an additional 79,255 shares in the last quarter. Massey Quick Simon & CO. LLC raised its position in Callaway Golf by 30.0% during the first quarter. Massey Quick Simon & CO. LLC now owns 3,097 shares of the company’s stock valued at $49,000 after purchasing an additional 714 shares in the last quarter. Eqis Capital Management Inc. raised its position in Callaway Golf by 22.4% during the first quarter. Eqis Capital Management Inc. now owns 13,282 shares of the company’s stock valued at $212,000 after purchasing an additional 2,434 shares in the last quarter. Finally, We Are One Seven LLC raised its position in Callaway Golf by 101.1% during the first quarter. We Are One Seven LLC now owns 19,666 shares of the company’s stock valued at $313,000 after purchasing an additional 9,888 shares in the last quarter. Institutional investors and hedge funds own 89.70% of the company’s stock.

ELY stock traded down $0.04 during mid-day trading on Tuesday, hitting $18.17. 777,062 shares of the company were exchanged, compared to its average volume of 1,157,730. The business has a 50 day simple moving average of $17.27. The company has a quick ratio of 0.85, a current ratio of 1.59 and a debt-to-equity ratio of 0.76. The firm has a market cap of $1.71 billion, a PE ratio of 16.98, a PEG ratio of 0.70 and a beta of 1.26. Callaway Golf has a 1-year low of $14.44 and a 1-year high of $24.67.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.14. The firm had revenue of $516.20 million during the quarter, compared to the consensus estimate of $504.07 million. Callaway Golf had a net margin of 6.68% and a return on equity of 13.42%. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period last year, the business posted $0.65 earnings per share. Sell-side analysts predict that Callaway Golf will post 1.03 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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