Callaway Golf (ELY) Hits New 12-Month High and Low at $17.50

Shares of Callaway Golf (NYSE:ELY) hit a new 52-week high and low during trading on Monday . The stock traded as low as $17.50 and last traded at $17.41, with a volume of 209276 shares trading hands. The stock had previously closed at $17.37.

Several analysts have commented on ELY shares. TheStreet upgraded shares of Callaway Golf from a “c+” rating to a “b” rating in a research report on Wednesday, February 14th. Roth Capital set a $17.00 target price on shares of Callaway Golf and gave the company a “buy” rating in a research report on Monday, February 5th. Jefferies Group reiterated a “buy” rating and set a $21.00 target price on shares of Callaway Golf in a research report on Thursday, February 8th. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Friday, January 5th. Finally, DA Davidson set a $18.00 target price on shares of Callaway Golf and gave the company a “buy” rating in a research report on Wednesday, December 27th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Callaway Golf presently has a consensus rating of “Buy” and an average price target of $16.66.

The firm has a market cap of $1,643.75, a PE ratio of 32.77, a price-to-earnings-growth ratio of 1.66 and a beta of 1.03. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.65 and a current ratio of 1.48.

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

In related news, Director Anthony S. Thornley sold 10,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $15.14, for a total value of $151,400.00. Following the completion of the transaction, the director now directly owns 35,034 shares of the company’s stock, valued at approximately $530,414.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Neil Howie sold 24,838 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $15.75, for a total transaction of $391,198.50. Following the completion of the transaction, the insider now directly 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 sold a total of 237,409 shares of company stock valued at $3,783,462 in the last three months. 1.98% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Elkfork Partners LLC acquired a new position in Callaway Golf in the 4th quarter worth $171,000. Xact Kapitalforvaltning AB acquired a new position in Callaway Golf in the 4th quarter worth $173,000. We Are One Seven LLC acquired a new position in Callaway Golf in the 4th quarter worth $272,000. MetLife Investment Advisors LLC acquired a new position in Callaway Golf in the 4th quarter worth $651,000. Finally, Gotham Asset Management LLC boosted its stake in Callaway Golf by 520.5% in the 4th quarter. Gotham Asset Management LLC now owns 287,777 shares of the company’s stock worth $4,009,000 after purchasing an additional 241,399 shares during the period. 88.97% of the stock is owned by hedge funds and other institutional investors.

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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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