ValuEngine Upgrades Callaway Golf (ELY) to “Hold”
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.
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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