Stock analysts at J P Morgan Chase & Co initiated coverage on shares of Callaway Golf (NYSE:ELY) in a research report issued to clients and investors on Thursday. The brokerage set an “overweight” rating and a $18.00 price target on the stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 27.39% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. DA Davidson reiterated a “buy” rating and set a $16.00 price objective on shares of Callaway Golf in a research report on Wednesday, September 20th. Jefferies Group reiterated a “buy” rating and set a $18.00 price objective on shares of Callaway Golf in a research report on Thursday, September 7th. Aegis reiterated a “buy” rating on shares of Callaway Golf in a research report on Monday, September 4th. KeyCorp reiterated a “buy” rating and set a $16.00 price objective on shares of Callaway Golf in a research report on Thursday, August 31st. Finally, BidaskClub upgraded Callaway Golf from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Callaway Golf presently has a consensus rating of “Buy” and a consensus price target of $15.84.

Shares of Callaway Golf (NYSE ELY) opened at $14.13 on Thursday. Callaway Golf has a twelve month low of $9.93 and a twelve month high of $15.63. The stock has a market capitalization of $1,331.07, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 1.84 and a beta of 1.12.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.09. The firm had revenue of $243.60 million for the quarter, compared to analysts’ expectations of $209.52 million. Callaway Golf had a return on equity of 7.88% and a net margin of 17.97%. The company’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) EPS. equities research analysts predict that Callaway Golf will post 0.51 earnings per share for the current year.

In related news, insider Jennifer L. Thomas sold 8,503 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $14.95, for a total value of $127,119.85. Following the sale, the insider now directly owns 28,143 shares of the company’s stock, valued at $420,737.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard H. Arnett sold 8,070 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $14.01, for a total value of $113,060.70. Following the completion of the sale, the senior vice president now directly owns 5,000 shares in the company, valued at $70,050. The disclosure for this sale can be found here. Insiders sold 29,850 shares of company stock worth $437,772 in the last 90 days. 2.59% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in ELY. Riverhead Capital Management LLC boosted its stake in Callaway Golf by 69.9% in the second quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock valued at $106,000 after buying an additional 3,426 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Callaway Golf in the second quarter valued at about $109,000. Flinton Capital Management LLC boosted its stake in Callaway Golf by 71.6% in the second quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock valued at $145,000 after buying an additional 4,726 shares in the last quarter. Amalgamated Bank boosted its stake in Callaway Golf by 1.3% in the second quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock valued at $164,000 after buying an additional 160 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Callaway Golf during the third quarter valued at about $182,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Callaway Golf (NYSE:ELY)

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