Callaway Golf (NYSE:ELY) had its target price lifted by equities research analysts at Raymond James from $22.00 to $30.00 in a research note issued to investors on Friday, Anlyst Ratings reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective points to a potential upside of 13.77% from the stock’s current price.
Several other research firms have also recently issued reports on ELY. Roth Capital decreased their price target on Callaway Golf from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. KeyCorp raised their price target on Callaway Golf from $22.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, January 4th. Berenberg Bank started coverage on Callaway Golf in a report on Wednesday, October 28th. They issued a “buy” rating and a $23.00 price target on the stock. Jefferies Financial Group increased their target price on Callaway Golf from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, November 23rd. Finally, BidaskClub lowered Callaway Golf from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 1st. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.42.
Callaway Golf stock opened at $26.37 on Friday. The business’s 50-day simple moving average is $22.89 and its 200 day simple moving average is $19.62. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -21.10 and a beta of 2.16. Callaway Golf has a 12-month low of $4.75 and a 12-month high of $26.63. The company has a quick ratio of 1.62, a current ratio of 2.49 and a debt-to-equity ratio of 0.95.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Monday, November 9th. The company reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. The business had revenue of $476.00 million for the quarter, compared to analysts’ expectations of $451.30 million. Callaway Golf had a positive return on equity of 9.87% and a negative net margin of 7.57%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 earnings per share. As a group, sell-side analysts expect that Callaway Golf will post 0.76 EPS for the current year.
In other news, EVP Glenn F. Hickey sold 6,148 shares of the firm’s stock in a transaction dated Tuesday, December 1st. The stock was sold at an average price of $22.37, for a total transaction of $137,530.76. Following the sale, the executive vice president now owns 23,618 shares of the company’s stock, valued at $528,334.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Glenn F. Hickey sold 7,919 shares of the firm’s stock in a transaction dated Thursday, December 3rd. The stock was sold at an average price of $23.11, for a total value of $183,008.09. Company insiders own 2.19% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its position in Callaway Golf by 333.3% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,300 shares of the company’s stock valued at $25,000 after buying an additional 1,000 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in Callaway Golf in the 3rd quarter valued at approximately $49,000. Point72 Hong Kong Ltd acquired a new stake in Callaway Golf in the 2nd quarter valued at approximately $111,000. Advisors Asset Management Inc. raised its position in Callaway Golf by 23.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,055 shares of the company’s stock valued at $116,000 after buying an additional 1,152 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Callaway Golf by 7.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the company’s stock valued at $202,000 after buying an additional 808 shares during the last quarter. 96.00% of the stock is currently owned by institutional investors.
Callaway Golf Company Profile
Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs and golf balls, apparel, gear, and other products. It operates through two segments, Golf Equipment; and Apparel, Gear and Other. The Golf Equipment segment provides drivers, fairway woods, hybrids, irons, wedges and packaged sets, putters, and pre-owned golf clubs under the Callaway and Odyssey brands, as well as golf balls under the Callaway Golf and Strata brand names.
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