Callaway Golf (ELY) Reaches New 1-Year High and Low at $17.74

Callaway Golf (NYSE:ELY) shares hit a new 52-week high and low during mid-day trading on Tuesday . The company traded as low as $17.74 and last traded at $17.67, with a volume of 263677 shares changing hands. The stock had previously closed at $17.47.

A number of research analysts have issued reports on the company. DA Davidson downgraded Callaway Golf from a “buy” rating to a “neutral” rating and boosted their price target for the company from $17.71 to $19.00 in a report on Wednesday. They noted that the move was a valuation call. Cowen upgraded Callaway Golf from a “sell” rating to a “neutral” rating and set a $14.00 price objective for the company in a research report on Wednesday, February 7th. Roth Capital set a $17.00 price objective on Callaway Golf and gave the company a “buy” rating in a research report on Monday, February 5th. Zacks Investment Research upgraded Callaway Golf from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Tuesday, March 6th. Finally, Jefferies Group restated a “buy” rating and issued a $21.00 price objective on shares of Callaway Golf in a research report on Thursday, February 8th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Callaway Golf currently has an average rating of “Buy” and a consensus target price of $16.74.

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The company has a quick ratio of 0.65, a current ratio of 1.48 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1,675.92, a P/E ratio of 32.80, a P/E/G ratio of 1.69 and a beta of 1.03.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Wednesday, February 7th. The company reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. Callaway Golf had a return on equity of 7.85% and a net margin of 3.89%. The firm had revenue of $192.00 million during the quarter, compared to analysts’ expectations of $184.74 million. During the same period in the previous year, the business earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. analysts expect that Callaway Golf will post 0.7 EPS for the current fiscal year.

In related news, Director Anthony S. Thornley sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $15.14, for a total transaction of $151,400.00. Following the completion of the sale, the director now directly owns 35,034 shares in the company, valued at $530,414.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Neil Howie sold 24,838 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $15.75, for a total value of $391,198.50. Following the sale, the insider now owns 95,803 shares of the company’s stock, valued at $1,508,897.25. The disclosure for this sale can be found here. Insiders have sold 237,409 shares of company stock valued at $3,783,462 over the last quarter. 2.59% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Fox Run Management L.L.C. purchased a new stake in shares of Callaway Golf during the fourth quarter worth approximately $142,000. Elkfork Partners LLC purchased a new stake in shares of Callaway Golf during the fourth quarter worth approximately $171,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Callaway Golf during the fourth quarter worth approximately $173,000. Allianz Asset Management GmbH purchased a new stake in shares of Callaway Golf during the third quarter worth approximately $182,000. Finally, Investors Research Corp purchased a new stake in shares of Callaway Golf during the fourth quarter worth approximately $217,000. Hedge funds and other institutional investors own 88.97% of the company’s stock.

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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 in the United States and internationally. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other.

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