Callaway Golf Company (NYSE:ELY)‘s stock had its “hold” rating reiterated by research analysts at Forward View in a report released on Saturday, October 28th.
Several other brokerages also recently weighed in on ELY. Zacks Investment Research downgraded shares of Callaway Golf from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. KeyCorp set a $16.00 price target on shares of Callaway Golf and gave the company a “buy” rating in a research report on Saturday, October 21st. Cowen and Company set a $14.00 price target on shares of Callaway Golf and gave the company a “hold” rating in a research report on Tuesday, October 24th. DA Davidson reissued a “buy” rating and set a $16.00 price target on shares of Callaway Golf in a research report on Wednesday, September 20th. Finally, FBR & Co set a $16.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a report on Thursday, October 26th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Callaway Golf presently has an average rating of “Buy” and a consensus target price of $15.67.
Shares of Callaway Golf (ELY) traded up $0.12 during midday trading on Friday, hitting $13.95. 511,045 shares of the company’s stock were exchanged, compared to its average volume of 1,003,013. Callaway Golf has a fifty-two week low of $9.93 and a fifty-two week high of $15.63. The company has a market capitalization of $1,320.00, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 1.81 and a beta of 1.10.
Callaway Golf (NYSE:ELY) last announced its earnings results on Wednesday, October 25th. The company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.09. Callaway Golf had a net margin of 17.97% and a return on equity of 7.88%. The business had revenue of $243.60 million during the quarter, compared to the consensus estimate of $209.52 million. During the same quarter last year, the firm earned ($0.06) earnings per share. The business’s revenue for the quarter was up 29.7% on a year-over-year basis. equities research analysts anticipate that Callaway Golf will post 0.51 earnings per share for the current year.
In related news, SVP Alan Hocknell sold 41,051 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $13.75, for a total transaction of $564,451.25. Following the transaction, the senior vice president now directly owns 73,227 shares in the company, valued at approximately $1,006,871.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard H. Arnett sold 8,070 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $14.01, for a total transaction of $113,060.70. Following the transaction, the senior vice president now owns 5,000 shares in the company, valued at $70,050. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,941 shares of company stock worth $1,714,848. Insiders own 2.59% of the company’s stock.
Large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Callaway Golf by 56,247.6% in the 1st quarter. BlackRock Inc. now owns 11,700,569 shares of the company’s stock valued at $129,526,000 after buying an additional 11,679,804 shares during the period. Daruma Capital Management LLC purchased a new stake in Callaway Golf in the 2nd quarter valued at about $48,831,000. Cramer Rosenthal Mcglynn LLC purchased a new stake in Callaway Golf in the 2nd quarter valued at about $10,707,000. Dimensional Fund Advisors LP boosted its position in Callaway Golf by 10.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,392,982 shares of the company’s stock valued at $81,702,000 after buying an additional 603,742 shares during the period. Finally, Hodges Capital Management Inc. purchased a new stake in Callaway Golf in the 2nd quarter valued at about $5,934,000. Institutional investors own 88.69% of the company’s stock.
About Callaway Golf
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.
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