Callaway Golf Company (NYSE:ELY) received a $14.00 price target from Cowen and Company in a note issued to investors on Tuesday. The firm currently has a “hold” rating on the stock. Cowen and Company’s target price would suggest a potential downside of 2.17% from the stock’s current price.

Several other equities analysts have also recently commented on ELY. BidaskClub upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Zacks Investment Research cut shares of Callaway Golf from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Jefferies Group LLC set a $18.00 price objective on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Friday, August 4th. Forward View cut shares of Callaway Golf to a “hold” rating and set a $14.00 price objective for the company. in a research report on Saturday, August 5th. Finally, Compass Point cut shares of Callaway Golf from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $13.60 to $13.75 in a research report on Monday, August 7th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $15.31.

Callaway Golf (NYSE ELY) traded down 0.175% on Tuesday, reaching $14.285. 747,321 shares of the company traded hands. Callaway Golf has a 52-week low of $9.77 and a 52-week high of $14.75. The firm has a market cap of $1.35 billion, a P/E ratio of 7.897 and a beta of 1.17. The stock has a 50-day moving average price of $14.13 and a 200-day moving average price of $12.99.

Callaway Golf (NYSE:ELY) last issued its earnings results on Thursday, August 3rd. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. The company had revenue of $304.50 million during the quarter, compared to analysts’ expectations of $295.70 million. Callaway Golf had a net margin of 18.09% and a return on equity of 6.60%. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 EPS. Analysts anticipate that Callaway Golf will post $0.44 earnings per share for the current fiscal year.

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In other news, insider Oliver G. Brewer III sold 131,884 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $13.31, for a total value of $1,755,376.04. Following the completion of the sale, the insider now owns 291,399 shares in the company, valued at $3,878,520.69. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Alan Hocknell sold 57,138 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $13.30, for a total transaction of $759,935.40. Following the completion of the sale, the senior vice president now owns 115,045 shares of the company’s stock, valued at approximately $1,530,098.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 281,113 shares of company stock valued at $3,792,388. 2.59% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ELY. Riverhead Capital Management LLC grew its position in Callaway Golf by 69.9% during the second quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock valued at $106,000 after buying an additional 3,426 shares during the period. C M Bidwell & Associates Ltd. bought a new position in Callaway Golf during the second quarter valued at about $109,000. Flinton Capital Management LLC grew its position in Callaway Golf by 71.6% during the second quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock valued at $145,000 after buying an additional 4,726 shares during the period. Amalgamated Bank grew its position in Callaway Golf by 1.3% during the second quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock valued at $164,000 after buying an additional 160 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in Callaway Golf during the second quarter valued at about $194,000. Institutional investors own 89.50% of the company’s stock.

About Callaway Golf

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)

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