Callaway Golf Co. (NYSE:ELY) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $10.78 and last traded at $10.72, with a volume of 332,175 shares. The stock had previously closed at $10.50.

A number of brokerages recently issued reports on ELY. Jefferies Group reissued a “buy” rating on shares of Callaway Golf in a report on Thursday, July 14th. Roth Capital reissued a “buy” rating and issued a $11.00 price objective on shares of Callaway Golf in a report on Thursday, June 30th. FBR & Co began coverage on shares of Callaway Golf in a report on Thursday, June 30th. They issued an “outperform” rating and a $12.00 price objective for the company. Vetr raised shares of Callaway Golf from a “buy” rating to a “strong-buy” rating and set a $12.50 price objective for the company in a report on Monday, June 13th. Finally, Imperial Capital reissued an “outperform” rating and issued a $13.00 price objective on shares of Callaway Golf in a report on Wednesday, June 8th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $12.32.

The firm has a market cap of $984.50 million and a price-to-earnings ratio of 58.88. The stock has a 50 day moving average of $10.28 and a 200 day moving average of $9.33.

Callaway Golf (NYSE:ELY) last released its quarterly earnings results on Wednesday, April 27th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. During the same period last year, the firm earned $0.39 EPS. The firm had revenue of $274.10 million for the quarter, compared to analyst estimates of $280.86 million. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts expect that Callaway Golf Co. will post $0.41 EPS for the current fiscal year.

Several hedge funds and institutional investors have recently added to or reduced their stakes in the company. Trexquant Investment LP purchased a new position in Callaway Golf during the fourth quarter valued at about $1,070,000. Rhumbline Advisers boosted its stake in Callaway Golf by 5.5% in the fourth quarter. Rhumbline Advisers now owns 128,753 shares of the company’s stock worth $1,213,000 after buying an additional 6,705 shares in the last quarter. California State Teachers Retirement System boosted its stake in Callaway Golf by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 144,679 shares of the company’s stock worth $1,363,000 after buying an additional 2,613 shares in the last quarter. I.G. Investment Management LTD. bought a new stake in Callaway Golf during the fourth quarter worth approximately $1,386,000. Finally, Nationwide Fund Advisors boosted its stake in Callaway Golf by 219.0% in the fourth quarter. Nationwide Fund Advisors now owns 237,455 shares of the company’s stock worth $2,237,000 after buying an additional 163,020 shares in the last quarter.

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 the Company’s trademarks and service marks and sales of pre-owned golf clubs.

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