Callaway Golf’s (ELY) Buy Rating Reiterated at Jefferies Group

Callaway Golf (NYSE:ELY)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Group in a research note issued to investors on Thursday. They presently have a $21.00 price objective on the stock. Jefferies Group’s price target indicates a potential upside of 41.89% from the stock’s previous close. Jefferies Group also issued estimates for Callaway Golf’s Q2 2018 earnings at $0.35 EPS, Q3 2018 earnings at $0.02 EPS, FY2018 earnings at $0.70 EPS and FY2019 earnings at $0.85 EPS.

A number of other analysts also recently issued reports on the company. Compass Point downgraded Callaway Golf from a “neutral” rating to a “sell” rating and cut their target price for the stock from $15.06 to $13.50 in a research note on Wednesday, December 27th. Raymond James Financial reaffirmed a “hold” rating on shares of Callaway Golf in a research note on Wednesday, December 27th. Zacks Investment Research raised Callaway Golf from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Friday, January 5th. JPMorgan Chase & Co. started coverage on Callaway Golf in a research note on Thursday, December 14th. They issued an “overweight” rating and a $18.00 target price for the company. Finally, Forward View reaffirmed a “hold” rating on shares of Callaway Golf in a research note on Saturday, October 28th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Callaway Golf has an average rating of “Buy” and an average price target of $16.40.

Callaway Golf (NYSE:ELY) traded down $0.32 during midday trading on Thursday, reaching $14.80. The company had a trading volume of 1,825,124 shares, compared to its average volume of 966,895. 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 $1,399.13, a P/E ratio of 34.42, a P/E/G ratio of 1.46 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, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. Callaway Golf had a return on equity of 7.85% and a net margin of 3.89%. The firm had revenue of $192.00 million during the quarter, compared to the consensus estimate of $184.74 million. During the same period in the prior year, the company earned ($0.09) EPS. The firm’s revenue was up 17.1% compared to the same quarter last year. equities analysts predict that Callaway Golf will post 0.69 EPS for the current fiscal year.

In other news, SVP Brian P. Lynch sold 25,911 shares of the stock in a transaction on Friday, February 9th. The stock was 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 directly owns 31,599 shares in the company, valued at approximately $468,929.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Neil Howie sold 24,838 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $15.75, for a total value of $391,198.50. Following the transaction, the insider now owns 95,803 shares of the company’s stock, valued at $1,508,897.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,487 shares of company stock valued at $1,031,977. Company insiders own 2.59% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Callaway Golf by 3.0% during the 4th quarter. BlackRock Inc. now owns 12,070,025 shares of the company’s stock worth $168,135,000 after purchasing an additional 351,863 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Callaway Golf by 3.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,633,502 shares of the company’s stock worth $95,720,000 after purchasing an additional 240,520 shares during the period. Copper Rock Capital Partners LLC grew its holdings in shares of Callaway Golf by 24.9% during the 4th quarter. Copper Rock Capital Partners LLC now owns 2,426,519 shares of the company’s stock worth $34,117,000 after purchasing an additional 483,441 shares during the period. State Street Corp grew its holdings in shares of Callaway Golf by 2.8% during the 2nd quarter. State Street Corp now owns 2,215,678 shares of the company’s stock worth $28,317,000 after purchasing an additional 59,853 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Callaway Golf by 11.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,493,110 shares of the company’s stock worth $20,800,000 after purchasing an additional 148,068 shares during the period. Institutional investors and hedge funds own 89.58% 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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