Callaway Golf Co (NYSE:ELY) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Callaway Golf Co (NYSE:ELY) have been assigned an average recommendation of “Buy” from the fourteen analysts that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.09.

Several equities analysts have recently weighed in on the stock. Berenberg Bank reiterated a “buy” rating and set a $24.00 price objective on shares of Callaway Golf in a report on Sunday, May 12th. ValuEngine upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a report on Friday, July 12th. Zacks Investment Research lowered shares of Farmland Partners from a “hold” rating to a “sell” rating in a report on Friday, July 12th. Finally, Roth Capital set a $75.00 price objective on shares of First Solar and gave the company a “buy” rating in a report on Thursday, June 13th.

In other Callaway Golf news, CEO Oliver G. Brewer III bought 10,000 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were bought at an average price of $15.14 per share, for a total transaction of $151,400.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Russell L. Fleischer bought 5,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average price of $14.75 per share, for a total transaction of $73,750.00. Following the acquisition, the director now directly owns 15,859 shares in the company, valued at $233,920.25. The disclosure for this purchase can be found here. Insiders purchased a total of 21,575 shares of company stock worth $324,630 in the last 90 days. 1.97% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Grace & White Inc. NY raised its holdings in shares of Callaway Golf by 24.7% in the 2nd quarter. Grace & White Inc. NY now owns 497,179 shares of the company’s stock worth $8,532,000 after acquiring an additional 98,495 shares during the last quarter. Eqis Capital Management Inc. raised its holdings in shares of Callaway Golf by 10.9% in the 2nd quarter. Eqis Capital Management Inc. now owns 14,724 shares of the company’s stock worth $253,000 after acquiring an additional 1,442 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Callaway Golf in the 2nd quarter worth about $283,000. Oregon Public Employees Retirement Fund grew its position in Callaway Golf by 1.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 35,004 shares of the company’s stock worth $601,000 after purchasing an additional 600 shares in the last quarter. Finally, Nisa Investment Advisors LLC bought a new stake in Callaway Golf in the 2nd quarter worth about $34,000. Institutional investors own 89.70% of the company’s stock.

Shares of NYSE ELY traded down $0.04 during trading on Tuesday, hitting $18.17. 777,062 shares of the company traded hands, compared to its average volume of 1,157,730. The firm has a fifty day moving average of $17.27. Callaway Golf has a fifty-two week low of $14.44 and a fifty-two week high of $24.67. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 0.70 and a beta of 1.26. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 0.85.

Callaway Golf (NYSE:ELY) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.14. Callaway Golf had a net margin of 6.68% and a return on equity of 13.42%. The firm had revenue of $516.20 million for the quarter, compared to analyst estimates of $504.07 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. Analysts expect that Callaway Golf will post 1.03 EPS for the current fiscal year.

About Callaway Golf

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other. The Golf Clubs segment provides golf drivers and fairway woods, hybrids, irons and wedges, putters, packaged sets, and pre-owned golf clubs.

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Analyst Recommendations for Callaway Golf (NYSE:ELY)

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