Callaway Golf (ELY) Rating Reiterated by Jefferies Financial Group

Callaway Golf (NYSE:ELY)‘s stock had its “buy” rating reiterated by analysts at Jefferies Financial Group in a research note issued on Monday. They presently have a $26.00 price target on the stock. Jefferies Financial Group’s price objective points to a potential upside of 18.61% from the company’s current price. Jefferies Financial Group also issued estimates for Callaway Golf’s Q4 2018 earnings at ($0.33) EPS, FY2018 earnings at $1.05 EPS and FY2019 earnings at $1.11 EPS.

Several other research firms also recently weighed in on ELY. Cowen set a $21.00 price target on Callaway Golf and gave the company a “hold” rating in a research note on Sunday, August 5th. Roth Capital boosted their price target on Callaway Golf from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Imperial Capital boosted their price target on Callaway Golf from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, August 7th. They noted that the move was a valuation call. KeyCorp boosted their price target on Callaway Golf from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, August 3rd. Finally, SunTrust Banks reiterated a “buy” rating and set a $24.00 price target on shares of Callaway Golf in a research note on Friday, August 3rd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Callaway Golf presently has a consensus rating of “Buy” and a consensus target price of $23.00.

Callaway Golf stock opened at $21.92 on Monday. The company has a current ratio of 2.28, a quick ratio of 1.14 and a debt-to-equity ratio of 0.01. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 0.80 and a beta of 1.04. Callaway Golf has a fifty-two week low of $13.49 and a fifty-two week high of $24.67.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Wednesday, October 24th. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.09. The business had revenue of $262.65 million for the quarter, compared to the consensus estimate of $250.83 million. Callaway Golf had a return on equity of 16.48% and a net margin of 9.08%. On average, research analysts forecast that Callaway Golf will post 1.05 earnings per share for the current year.

In other news, VP Mark F. Leposky sold 21,767 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $21.74, for a total value of $473,214.58. Following the completion of the transaction, the vice president now owns 140,499 shares of the company’s stock, valued at approximately $3,054,448.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.98% of the company’s stock.

Several hedge funds have recently modified their holdings of ELY. California Public Employees Retirement System grew its holdings in Callaway Golf by 74.3% during the first quarter. California Public Employees Retirement System now owns 36,206 shares of the company’s stock valued at $592,000 after purchasing an additional 15,431 shares during the period. UBS Group AG grew its holdings in Callaway Golf by 17.0% during the first quarter. UBS Group AG now owns 276,283 shares of the company’s stock valued at $4,520,000 after purchasing an additional 40,202 shares during the period. LPL Financial LLC grew its holdings in Callaway Golf by 69.3% during the first quarter. LPL Financial LLC now owns 17,088 shares of the company’s stock valued at $279,000 after purchasing an additional 6,992 shares during the period. Legal & General Group Plc grew its holdings in Callaway Golf by 2.4% during the first quarter. Legal & General Group Plc now owns 196,712 shares of the company’s stock valued at $3,212,000 after purchasing an additional 4,699 shares during the period. Finally, Xact Kapitalforvaltning AB grew its holdings in Callaway Golf by 72.6% during the first quarter. Xact Kapitalforvaltning AB now owns 21,397 shares of the company’s stock valued at $350,000 after purchasing an additional 9,000 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Callaway Golf Company Profile

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories in the United States and internationally. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other.

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Analyst Recommendations for Callaway Golf (NYSE:ELY)

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