Shares of Callaway Golf (NYSE: ELY) have received an average “Buy” recommendation from the eleven rating companies that cover the company, MarketBeat.com reports. Three research analysts rated the stock with a conservation rating and seven issued a buy rating on the company. The average one-year target price among analysts who updated their stock coverage in the past year is $ 36.44.
ELY has been the subject of several analyst reports. TheStreet downgraded Callaway Golf’s shares from a “b-” rating to a “c” rating in a research note on Monday, August 9. Roth Capital raised its target price on Callaway Golf shares from $ 41.00 to $ 44.00 and gave the company a “buy” rating in a research note on Tuesday, August 10. Berenberg Bank reissued a “buy” note and set a target price of $ 40.00 for Callaway Golf shares in a research note on Wednesday, September 15. Truist raised its price target for the Callaway Golf stock from $ 38.00 to $ 40.00 and gave the stock a “buy” rating in a research note on Friday, June 25. Finally, Raymond James raised his Callaway Golf stock price target from $ 37.00 to $ 38.00 and gave the stock an “outperformance” rating in a research note on Tuesday, August 10.
In addition, the main shareholder Pep Tg Investments Lp sold 4,600,000 shares of the company in a transaction that took place on Monday, September 20. The shares were sold at an average price of $ 27.64, for a total value of $ 127,144,000.00. The transaction was disclosed in a file with the SEC, accessible through this hyperlink. 1.23% of the capital is held by insiders.
Hedge funds and other institutional investors have recently increased or reduced their holdings in the stock. Paragon Wealth Strategies LLC purchased a new stake in Callaway Golf shares in the second quarter valued at approximately $ 30,000. IndexIQ Advisors LLC acquired a new equity interest in Callaway Golf during the second quarter valued at approximately $ 31,000. Truvestments Capital LLC increased its stake in Callaway Golf shares by 100.0% during the first quarter. Truvestments Capital LLC now owns 1,000 shares of the company valued at $ 26,000 after acquiring an additional 500 shares during the period. The Canada Pension Plan Investment Board acquired a new stake in Callaway Golf shares during the second quarter valued at approximately $ 36,000. Finally, Parkside Financial Bank & Trust increased its stake in Callaway Golf shares by 43.9% during the first quarter. Parkside Financial Bank & Trust now owns 1,266 shares of the company valued at $ 34,000 after acquiring 386 additional shares during the period. Institutional investors and hedge funds hold 61.14% of the company’s shares.
NYSE: ELY shares opened at $ 31.04 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.59, and a debt ratio of 0.28. Callaway Golf has a 52 week minimum of $ 14.62 and a 52 week maximum of $ 37.75. The company has a 50-day simple moving average of $ 30.10 and a 200-day simple moving average of $ 31.01. The company has a market cap of $ 5.77 billion, a PE ratio of 11.21 and a beta of 2.10.
Callaway Golf (NYSE: ELY) last released its results on Monday, August 9. The company reported earnings per share (EPS) of $ 0.36 for the quarter, beating analyst consensus estimates of ($ 0.01) by $ 0.37. The company posted revenue of $ 914.00 million in the quarter, compared to analysts’ estimates of $ 755.21 million. Callaway Golf had a net margin of 15.57% and a return on equity of 7.99%. Callaway Golf revenue increased 207.7% year-over-year. During the same period of the previous year, the company posted EPS of $ 0.06. As a group, research analysts predict that Callaway Golf will post 0.39 EPS for the current fiscal year.
Callaway Golf Company Profile
Callaway Golf Co is engaged in the manufacture and distribution of golf equipment and accessories. It operates through the following segments: Golf equipment; and clothing, equipment and more. The Golf Equipment segment is focused on the design, manufacture and sale of a complete line of golf equipment. The Apparel, Equipment and Other segment involves the development and sale of non-textile products under the Callaway, TravisMathew, OGIO and Jack Wolfskin brands.
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