Callaway Golf (NYSE:ELY) has been given a $17.00 price target by research analysts at Roth Capital in a research report issued to clients and investors on Monday, February 5th. The brokerage currently has a “buy” rating on the stock. Roth Capital’s price target suggests a potential upside of 11.62% from the stock’s current price.
ELY has been the subject of a number of other research reports. KeyCorp set a $16.00 target price on shares of Callaway Golf and gave the company a “buy” rating in a research note on Saturday, October 21st. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Friday, January 5th. FBR & Co set a $16.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a report on Thursday, October 26th. JPMorgan Chase & Co. initiated coverage on shares of Callaway Golf in a report on Thursday, December 14th. They issued an “overweight” rating and a $18.00 target price on the stock. Finally, Imperial Capital reiterated an “outperform” rating on shares of Callaway Golf in a report on Tuesday, January 30th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $16.40.
Shares of Callaway Golf (NYSE:ELY) opened at $15.23 on Monday. Callaway Golf has a 1-year low of $9.99 and a 1-year high of $15.95. The firm has a market cap of $1,399.14, a P/E ratio of 27.41, a P/E/G ratio of 1.43 and a beta of 1.15.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Wednesday, February 7th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.02. The firm had revenue of $192.00 million during the quarter, compared to analyst estimates of $184.74 million. Callaway Golf had a net margin of 3.89% and a return on equity of 7.85%. The company’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS. sell-side analysts forecast that Callaway Golf will post 0.69 EPS for the current fiscal year.
In other news, insider Neil Howie sold 24,838 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $15.75, for a total value of $391,198.50. Following the completion of the transaction, the insider now owns 95,803 shares in the company, valued at $1,508,897.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian P. Lynch sold 25,911 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $14.84, for a total transaction of $384,519.24. Following the completion of the transaction, the senior vice president now owns 31,599 shares of the company’s stock, valued at approximately $468,929.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,487 shares of company stock valued at $1,183,377. 2.59% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in ELY. Copper Rock Capital Partners LLC lifted its stake in Callaway Golf by 24.9% in the fourth quarter. Copper Rock Capital Partners LLC now owns 2,426,519 shares of the company’s stock valued at $34,117,000 after acquiring an additional 483,441 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Callaway Golf in the fourth quarter valued at $5,760,000. BlackRock Inc. lifted its stake in Callaway Golf by 3.0% in the fourth quarter. BlackRock Inc. now owns 12,070,025 shares of the company’s stock valued at $168,135,000 after acquiring an additional 351,863 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Callaway Golf by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 6,633,502 shares of the company’s stock valued at $95,720,000 after purchasing an additional 240,520 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of Callaway Golf by 165.2% in the second quarter. New York State Common Retirement Fund now owns 333,367 shares of the company’s stock valued at $4,260,000 after purchasing an additional 207,658 shares during the period. Hedge funds and other institutional investors own 88.56% of the company’s stock.
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Callaway Golf Company Profile
Callaway Golf Company designs, manufactures and sells golf clubs, golf balls, golf bags and other golf-related accessories. The Company has two segments: the golf clubs segment and golf balls segment. The golf clubs segment consists of its woods, hybrids, irons and wedges, and Odyssey putters. This segment also includes other golf-related accessories, royalties from licensing of its trademarks and service marks and sales of pre-owned golf clubs.
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