Callaway Golf (NYSE: ELY) Receives Consensus “Buy” From Analysts

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Callaway Golf (NYSE: ELY) was given an average recommendation of “buy” by the 11 analysts currently watching the company, reports. Two research analysts have given the stock a hold recommendation and eight have given the company a buy recommendation. The average 1-year price target among brokers who rated the stock last year is $ 34.70.

A number of brokerage firms have commented on ELY. TheStreet upgraded Callaway Golf shares in a research release on Monday 10. Roth Capital raised its price target on Callaway Golf shares from USD 34.00 to USD 41.00 and on Thursday, May 20, rated “Buy” in a research note. B. Riley raised his target price on Callaway Golf stock from $ 35.00 to $ 38.00 and gave the stock a “Buy” rating in a report on Tuesday, May 11th. KeyCorp raised its price target on Callaway Golf shares from $ 34.00 to $ 36.00 and rated the stock as “overweight” in a report dated Tuesday, May 11th. Finally, Zacks Investment Research upgraded Callaway Golf’s shares from a “hold” rating to a “buy” rating and set a price target of $ 40.00 for the company in a report on Monday, June 7th.

NYSE ELY opened at $ 32.78 on Friday. The company has a market cap of $ 6.05 billion, a P / E of 63.04, and a beta of 2.12. The company has a current metric of 1.73, a quick ratio of 1.24 and debt of 0.33. Callaway Golf has a twelve month low of $ 14.62 and a twelve month high of $ 37.75. The company has a 50-day moving average of $ 33.85.

Callaway Golf (NYSE: ELY) last announced its quarterly results on Sunday, May 9th. The company reported $ 0.62 EPS for the quarter, beating analysts’ consensus estimate of $ 0.12 by $ 0.50. The company posted revenue of $ 651.60 million for the quarter, compared to analyst expectations of $ 603.11 million. Callaway Golf had a net margin of 6.48% and a return on equity of 7.77%. The company’s revenue increased 47.3% for the quarter compared to the same quarter last year. For the same quarter last year, the company had earnings per share of $ 0.32. On average, sell-side analysts are forecasting earnings per share of 0.09 for Callaway Golf for the current year.


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In other Callaway Golf news, CFO Brian P. Lynch sold 77,206 shares of Callaway Golf in one transaction on Monday, May 17th. The shares were sold at an average price of $ 34.50 for a total transaction of $ 2,663,607.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via this link. In addition, CEO Oliver G. Brewer III sold 497,537 Callaway Golf shares in one transaction on Tuesday June 1st. The stock sold at an average price of $ 37.21 for a total transaction of $ 18,513,351.77. The disclosure for this sale can be found here. In the past three months, insiders sold 578,185 shares in the company for $ 21,300,830. 1.23% of the shares are currently owned by company insiders.

A number of institutional investors and hedge funds have recently added or reduced their holdings in ELY. Bank of New York Mellon Corp increased its stake in Callaway Golf by 46.0% in the first quarter. Bank of New York Mellon Corp now owns 3,646,931 shares in the company valued at $ 97,555,000 after purchasing an additional 1,149,834 shares during the reporting period. Norges Bank bought a new position in Callaway Golf shares for $ 27,225,000 in the fourth quarter. Goldman Sachs Group Inc. increased its position in Callaway Golf stocks by 59.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,760,578 shares in the company valued at $ 73,846,000 after purchasing an additional 1,026,520 shares last quarter. Nuveen Asset Management LLC increased its position in Callaway Golf stocks by 112.3% in the fourth quarter. Nuveen Asset Management LLC now owns 1,498,620 shares in the company, valued at $ 35,981,000, after purchasing an additional 792,692 shares last quarter. Finally, Clearbridge Investments LLC bought a new position in Callaway Golf shares for $ 20,507,000 in the first quarter.

Callaway Golf company profile

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs and golf balls, apparel, equipment, and other products. It operates in two segments: golf equipment; and clothing, equipment and others. The golf equipment segment offers drivers, fairway woods, hybrids, irons, wedges and packaged sets, putters and used golf clubs under the Callaway and Odyssey brands, and golf balls under the Callaway Golf and Strata brand names.

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Analyst recommendations for Callaway Golf (NYSE: ELY)

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