ValuEngine lowered shares of Callaway Golf (NYSE:ELY) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

A number of other research firms have also issued reports on ELY. Cowen increased their target price on Callaway Golf from $21.00 to $24.00 and gave the company a hold rating in a research note on Friday, September 28th. JPMorgan Chase & Co. restated a buy rating and set a $27.00 price objective on shares of Callaway Golf in a research note on Thursday, September 27th. Imperial Capital lifted their target price on Callaway Golf from $21.00 to $25.00 and gave the stock an outperform rating in a research report on Tuesday, August 7th. They noted that the move was a valuation call. SunTrust Banks reiterated a buy rating and issued a $24.00 target price on shares of Callaway Golf in a research report on Friday, August 3rd. Finally, Jefferies Financial Group reissued a buy rating and issued a $26.00 price target on shares of Callaway Golf in a report on Monday, October 29th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Callaway Golf has an average rating of Buy and an average target price of $23.00.

ELY stock opened at $19.54 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 2.28 and a debt-to-equity ratio of 0.01. Callaway Golf has a 1 year low of $13.49 and a 1 year high of $24.67. The stock has a market capitalization of $1.80 billion, a PE ratio of 36.87, a P/E/G ratio of 0.73 and a beta of 1.05.

Callaway Golf (NYSE:ELY) last posted its earnings results on Wednesday, October 24th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.09. Callaway Golf had a return on equity of 16.48% and a net margin of 9.08%. The business had revenue of $262.65 million during the quarter, compared to analyst estimates of $250.83 million. Equities analysts predict that Callaway Golf will post 1.05 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 21st will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.20%. The ex-dividend date is Tuesday, November 20th. Callaway Golf’s payout ratio is currently 7.55%.

A number of institutional investors have recently made changes to their positions in the business. Morgan Stanley raised its stake in Callaway Golf by 58.0% during the 3rd quarter. Morgan Stanley now owns 1,296,455 shares of the company’s stock valued at $31,491,000 after acquiring an additional 475,786 shares in the last quarter. Legal & General Group Plc raised its stake in Callaway Golf by 2.4% during the 3rd quarter. Legal & General Group Plc now owns 211,084 shares of the company’s stock valued at $5,118,000 after acquiring an additional 4,925 shares in the last quarter. Kepos Capital LP bought a new stake in Callaway Golf during the 3rd quarter valued at $2,177,000. Teachers Advisors LLC increased its position in shares of Callaway Golf by 3.0% during the 3rd quarter. Teachers Advisors LLC now owns 1,081,862 shares of the company’s stock valued at $26,278,000 after purchasing an additional 31,155 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Callaway Golf by 152.4% during the 3rd quarter. AQR Capital Management LLC now owns 72,161 shares of the company’s stock valued at $1,753,000 after purchasing an additional 43,574 shares during the period. 89.70% of the stock is currently owned by hedge funds and other institutional investors.

Callaway Golf Company Profile

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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Analyst Recommendations for Callaway Golf (NYSE:ELY)

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