Callaway Golf Co. (ELY) Shares Up 4.5%
Callaway Golf Co. (NYSE:ELY) shares shot up 4.5% on Friday . The stock traded as high as $11.58 and last traded at $11.50, with a volume of 2,070,604 shares trading hands. The stock had previously closed at $11.00.
Several brokerages have weighed in on ELY. Sterne Agee CRT reiterated a “buy” rating on shares of Callaway Golf in a report on Wednesday, May 4th. Forward View reiterated a “buy” rating on shares of Callaway Golf in a report on Sunday, July 24th. Jefferies Group reiterated a “buy” rating and issued a $14.00 price target on shares of Callaway Golf in a report on Friday. Zacks Investment Research downgraded Callaway Golf from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Finally, Imperial Capital boosted their price target on Callaway Golf from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Callaway Golf currently has an average rating of “Buy” and a consensus target price of $12.41.
The firm has a 50 day moving average price of $10.43 and a 200 day moving average price of $9.46. The firm has a market capitalization of $1.07 billion and a PE ratio of 28.94.
Callaway Golf (NYSE:ELY) last issued its earnings results on Wednesday, July 27th. The company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.06. The business had revenue of $245.60 million for the quarter, compared to the consensus estimate of $242.49 million. During the same quarter in the previous year, the business posted $0.15 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Equities analysts anticipate that Callaway Golf Co. will post $0.46 earnings per share for the current year.
Other institutional investors have recently bought and sold shares of the company. Russell Frank Co raised its position in 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. California State Teachers Retirement System raised its position 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. purchased a new position in Callaway Golf during the fourth quarter worth approximately $1,386,000. Rhumbline Advisers raised its position 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. Finally, Trexquant Investment LP purchased a new position in Callaway Golf during the fourth quarter worth approximately $1,070,000.
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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