Callaway Golf (NYSE:ELY) was downgraded by investment analysts at Compass Point from a “neutral” rating to a “sell” rating in a report issued on Wednesday, December 27th, MarketBeat.com reports. They currently have a $13.50 price objective on the stock, down from their previous price objective of $15.06. Compass Point’s price objective would indicate a potential downside of 5.53% from the stock’s current price.
Other research analysts have also issued reports about the company. Aegis reaffirmed a “buy” rating on shares of Callaway Golf in a research report on Monday, September 4th. B. Riley reaffirmed a “buy” rating on shares of Callaway Golf in a research report on Wednesday, November 1st. DA Davidson reissued a “buy” rating and issued a $16.00 price objective on shares of Callaway Golf in a report on Wednesday, September 20th. KeyCorp reissued an “overweight” rating and issued a $16.00 price objective on shares of Callaway Golf in a report on Wednesday, August 30th. Finally, Jefferies Group set a $19.00 price objective on Callaway Golf and gave the company a “buy” rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. Callaway Golf currently has a consensus rating of “Buy” and a consensus price target of $15.82.
Shares of Callaway Golf (NYSE:ELY) opened at $14.29 on Wednesday. Callaway Golf has a 1-year low of $9.93 and a 1-year high of $15.63. The firm has a market capitalization of $1,339.58, a price-to-earnings ratio of 7.48, a price-to-earnings-growth ratio of 1.60 and a beta of 1.12.
Callaway Golf (NYSE:ELY) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. The firm had revenue of $243.60 million during 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 firm’s quarterly revenue was up 29.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) EPS. analysts expect that Callaway Golf will post 0.51 EPS for the current year.
In other news, insider Alex Mitchell Boezeman sold 16,738 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $15.31, for a total value of $256,258.78. Following the transaction, the insider now owns 120,873 shares in the company, valued at $1,850,565.63. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer L. Thomas sold 8,503 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $14.95, for a total value of $127,119.85. Following the completion of the transaction, the insider now owns 28,143 shares in the company, valued at approximately $420,737.85. The disclosure for this sale can be found here. Insiders have sold 46,588 shares of company stock worth $694,031 in the last quarter. 2.59% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELY. Aperio Group LLC lifted its position in shares of Callaway Golf by 31.8% in the second quarter. Aperio Group LLC now owns 28,946 shares of the company’s stock valued at $370,000 after acquiring an additional 6,976 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Callaway Golf by 8.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 442,368 shares of the company’s stock valued at $5,654,000 after purchasing an additional 34,521 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Callaway Golf by 51.6% in the second quarter. First Trust Advisors LP now owns 188,106 shares of the company’s stock valued at $2,404,000 after purchasing an additional 64,045 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Callaway Golf by 1.4% in the second quarter. Rhumbline Advisers now owns 193,899 shares of the company’s stock valued at $2,478,000 after purchasing an additional 2,626 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Callaway Golf by 7.4% in the second quarter. Advisors Asset Management Inc. now owns 41,101 shares of the company’s stock valued at $525,000 after purchasing an additional 2,817 shares during the last quarter. Institutional investors and hedge funds own 88.11% of the company’s stock.
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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.
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