Shares of Callaway Golf Co. (NYSE:ELY) were up 4.5% during trading on Friday . The stock traded as high as $11.58 and last traded at $11.50, with a volume of 2,070,604 shares. The stock had previously closed at $11.00.

Several analysts have commented on ELY shares. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Thursday, April 14th. Sterne Agee CRT restated a “buy” rating on shares of Callaway Golf in a report on Wednesday, April 20th. Jefferies Group restated a “buy” rating on shares of Callaway Golf in a report on Thursday, April 28th. DA Davidson restated a “buy” rating and issued a $12.00 price objective on shares of Callaway Golf in a report on Sunday, May 1st. Finally, Imperial Capital restated an “outperform” rating and issued a $12.00 price objective on shares of Callaway Golf in a report on Sunday, May 1st. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Callaway Golf has a consensus rating of “Buy” and an average price target of $12.41.

The firm’s 50 day moving average is $10.39 and its 200 day moving average is $9.44. The stock has a market capitalization of $1.07 billion and a P/E ratio of 28.94.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.30 by $0.06. During the same quarter in the previous year, the company posted $0.15 earnings per share. The firm had revenue of $245.60 million for the quarter, compared to the consensus estimate of $242.49 million. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts forecast that Callaway Golf Co. will post $0.46 EPS for the current fiscal year.

A number of institutional investors recently modified their holdings of ELY. Nationwide Fund Advisors increased its position in shares of 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. I.G. Investment Management LTD. bought a new position in shares of Callaway Golf during the fourth quarter worth approximately $1,386,000. Russell Frank Co increased its position in shares of Callaway Golf by 52.0% in the fourth quarter. Russell Frank Co now owns 419,204 shares of the company’s stock worth $3,962,000 after buying an additional 143,338 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Callaway Golf during the fourth quarter worth approximately $1,070,000. Finally, Rhumbline Advisers increased its position in shares of 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.

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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