Callaway Golf (NYSE:ELY) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Monday, ValuEngine reports.

Several other equities research analysts also recently issued reports on the stock. Berenberg Bank restated a “buy” rating and set a $24.00 price objective on shares of Callaway Golf in a research report on Sunday, May 12th. Zacks Investment Research upgraded shares of Callaway Golf from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Imperial Capital cut their price objective on shares of Callaway Golf from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, February 7th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $22.91.

ELY stock traded up $0.16 during mid-day trading on Monday, hitting $14.86. 1,019,000 shares of the company were exchanged, compared to its average volume of 1,209,364. The company has a quick ratio of 0.85, a current ratio of 1.59 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $1.38 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 0.57 and a beta of 1.19. Callaway Golf has a 1-year low of $14.44 and a 1-year high of $24.67.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.14. The firm had revenue of $516.20 million during the quarter, compared to the consensus estimate of $504.07 million. Callaway Golf had a net margin of 6.68% and a return on equity of 13.42%. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period last year, the business posted $0.65 earnings per share. As a group, research analysts expect that Callaway Golf will post 1.03 EPS for the current year.

In other Callaway Golf news, Director Russell L. Fleischer purchased 5,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was bought at an average cost of $14.75 per share, for a total transaction of $73,750.00. Following the completion of the transaction, the director now owns 15,859 shares in the company, valued at $233,920.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Oliver G. Brewer III purchased 10,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was acquired at an average price of $15.14 per share, with a total value of $151,400.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 21,575 shares of company stock valued at $324,630. 1.97% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELY. JPMorgan Chase & Co. raised its position in shares of Callaway Golf by 2.7% in the third quarter. JPMorgan Chase & Co. now owns 164,108 shares of the company’s stock valued at $3,986,000 after buying an additional 4,345 shares in the last quarter. Teachers Advisors LLC raised its position in Callaway Golf by 3.0% during the third quarter. Teachers Advisors LLC now owns 1,081,862 shares of the company’s stock valued at $26,278,000 after purchasing an additional 31,155 shares in the last quarter. Bank of Montreal Can raised its position in Callaway Golf by 77.4% during the fourth quarter. Bank of Montreal Can now owns 162,303 shares of the company’s stock valued at $2,483,000 after purchasing an additional 70,799 shares in the last quarter. Strs Ohio raised its position in Callaway Golf by 12.5% during the fourth quarter. Strs Ohio now owns 57,500 shares of the company’s stock valued at $879,000 after purchasing an additional 6,400 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Callaway Golf by 26.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,523 shares of the company’s stock valued at $100,000 after purchasing an additional 1,376 shares in the last quarter. Institutional investors own 89.50% of the company’s stock.

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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