Shares of Callaway Golf Co (NYSE:ELY) have earned an average recommendation of “Buy” from the eighteen ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $15.96.

A number of research analysts recently weighed in on ELY shares. KeyCorp set a $16.00 price objective on shares of Callaway Golf and gave the company a “buy” rating in a research report 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 objective on the stock in a research report on Friday, January 5th. FBR & Co set a $16.00 price objective on shares of Callaway Golf and gave the company a “buy” rating in a research report on Thursday, October 26th. JPMorgan Chase & Co. started coverage on shares of Callaway Golf in a research report on Thursday, December 14th. They set an “overweight” rating and a $18.00 price objective on the stock. Finally, Cowen set a $14.00 price objective on shares of Callaway Golf and gave the company a “hold” rating in a research report on Tuesday, October 24th.

Callaway Golf (NYSE ELY) opened at $14.17 on Friday. The firm has a market cap of $1,330.00, a P/E ratio of 7.42, a P/E/G ratio of 1.59 and a beta of 1.11. Callaway Golf has a 52-week low of $9.93 and a 52-week high of $15.63.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.09. The company had revenue of $243.60 million for the quarter, compared to the consensus estimate of $209.52 million. Callaway Golf had a net margin of 17.97% and a return on equity of 7.88%. The firm’s revenue for the quarter was up 29.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. equities analysts forecast that Callaway Golf will post 0.51 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 22nd were given a $0.01 dividend. The ex-dividend date was Tuesday, November 21st. This represents a $0.04 annualized dividend and a yield of 0.28%. Callaway Golf’s payout ratio is presently 2.09%.

In other Callaway Golf news, insider Alex Mitchell Boezeman sold 16,738 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $15.31, for a total value of $256,258.78. Following the transaction, the insider now directly owns 120,873 shares in the company, valued at $1,850,565.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anthony S. Thornley sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $14.40, for a total transaction of $100,800.00. Following the completion of the transaction, the director now owns 47,034 shares in the company, valued at $677,289.60. The disclosure for this sale can be found here. Insiders sold 46,588 shares of company stock worth $694,031 over the last quarter. Insiders own 2.59% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELY. Daruma Capital Management LLC bought a new position in Callaway Golf in the second quarter worth approximately $48,831,000. Cramer Rosenthal Mcglynn LLC bought a new position in Callaway Golf in the second quarter worth approximately $10,707,000. Dimensional Fund Advisors LP raised its position in Callaway Golf by 10.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,392,982 shares of the company’s stock worth $81,702,000 after acquiring an additional 603,742 shares during the period. Copper Rock Capital Partners LLC raised its position 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 worth $34,117,000 after acquiring an additional 483,441 shares during the period. Finally, New York State Common Retirement Fund raised its position in 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 worth $4,260,000 after acquiring an additional 207,658 shares during the period. Institutional investors and hedge funds own 88.11% 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.

Analyst Recommendations for Callaway Golf (NYSE:ELY)

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