Callaway Golf (ELY) PT Set at $17.00 by Roth Capital

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.

WARNING: “Callaway Golf (ELY) PT Set at $17.00 by Roth Capital” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another publication, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2018/02/13/callaway-golf-ely-given-a-17-00-price-target-by-roth-capital-analysts.html.

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.

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.

Leave a Reply