Callaway Golf Company (ELY) Rating Reiterated by Forward View
Callaway Golf Company (NYSE:ELY)‘s stock had its “hold” rating reissued by Forward View in a research report issued on Saturday.
A number of other research firms also recently weighed in on ELY. KeyCorp set a $16.00 target price on shares of Callaway Golf and gave the company a “buy” rating in a research report on Saturday, October 21st. BidaskClub downgraded shares of Callaway Golf from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Aegis reaffirmed a “buy” rating on shares of Callaway Golf in a research report on Monday, September 4th. Imperial Capital reaffirmed an “outperform” rating and issued a $16.00 target price (up previously from $14.50) on shares of Callaway Golf in a research report on Wednesday, August 9th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Callaway Golf in a research report on Thursday, October 12th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $15.67.
Callaway Golf (NYSE:ELY) opened at 14.45 on Friday. The stock’s 50 day moving average is $14.21 and its 200 day moving average is $13.09. Callaway Golf has a 12-month low of $9.77 and a 12-month high of $15.63. The stock has a market capitalization of $1.36 billion, a PE ratio of 7.99 and a beta of 1.17.
Callaway Golf (NYSE:ELY) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. Callaway Golf had a net margin of 17.97% and a return on equity of 7.88%. The company had revenue of $243.60 million during the quarter, compared to the consensus estimate of $209.52 million. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. The firm’s revenue was up 29.7% compared to the same quarter last year. Analysts forecast that Callaway Golf will post $0.49 EPS for the current year.
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In other Callaway Golf news, SVP Brian P. Lynch sold 6,277 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $15.42, for a total value of $96,791.34. Following the completion of the sale, the senior vice president now owns 46,184 shares in the company, valued at $712,157.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Alan Hocknell sold 57,138 shares of the stock in a transaction on 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 295,893 shares of company stock valued at $4,016,299. Corporate insiders own 2.59% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ELY. BlackRock Inc. lifted its stake in Callaway Golf by 56,247.6% in the first quarter. BlackRock Inc. now owns 11,700,569 shares of the company’s stock valued at $129,526,000 after acquiring an additional 11,679,804 shares during the last quarter. Daruma Capital Management LLC acquired a new stake in Callaway Golf in the second quarter valued at $48,831,000. Cramer Rosenthal Mcglynn LLC acquired a new stake in shares of Callaway Golf during the 2nd quarter worth about $10,707,000. Dimensional Fund Advisors LP lifted its stake in shares of Callaway Golf by 10.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,392,982 shares of the company’s stock worth $81,702,000 after buying an additional 603,742 shares during the last quarter. Finally, Hodges Capital Management Inc. acquired a new stake in shares of Callaway Golf during the 2nd quarter worth about $5,934,000. Hedge funds and other institutional investors own 88.99% of the company’s stock.
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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