Compass Point Downgrades Callaway Golf Co. (ELY) to Neutral
Callaway Golf Co. (NYSE:ELY) was downgraded by equities research analysts at Compass Point from a “buy” rating to a “neutral” rating in a note issued to investors on Monday.
Other equities research analysts also recently issued reports about the stock. Roth Capital set a $13.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a research note on Saturday, September 17th. Forward View reissued a “buy” rating on shares of Callaway Golf in a research note on Sunday, July 24th. Jefferies Group reissued a “buy” rating and set a $14.00 price target on shares of Callaway Golf in a research note on Thursday, July 28th. Imperial Capital boosted their price target on shares of Callaway Golf from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. Finally, Zacks Investment Research raised shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Monday, October 3rd. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Callaway Golf has an average rating of “Buy” and an average target price of $13.39.
Shares of Callaway Golf (NYSE:ELY) opened at 12.07 on Monday. The firm’s 50 day moving average is $11.03 and its 200-day moving average is $10.64. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 36.47 and a beta of 1.39. Callaway Golf has a 52 week low of $8.00 and a 52 week high of $12.11.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.06. The business earned $188 million during the quarter, compared to the consensus estimate of $177.39 million. Callaway Golf had a net margin of 4.20% and a return on equity of 7.84%. Callaway Golf’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) earnings per share. Equities research analysts predict that Callaway Golf will post $0.51 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Profund Advisors LLC boosted its position in Callaway Golf by 1.3% in the second quarter. Profund Advisors LLC now owns 19,089 shares of the company’s stock valued at $195,000 after buying an additional 251 shares during the period. Capstone Asset Management Co. boosted its position in shares of Callaway Golf by 1.4% in the third quarter. Capstone Asset Management Co. now owns 25,410 shares of the company’s stock valued at $295,000 after buying an additional 340 shares during the last quarter. Ngam Advisors L.P. boosted its position in shares of Callaway Golf by 1.1% in the second quarter. Ngam Advisors L.P. now owns 42,393 shares of the company’s stock valued at $433,000 after buying an additional 443 shares during the last quarter. PineBridge Investments L.P. boosted its position in shares of Callaway Golf by 4.0% in the second quarter. PineBridge Investments L.P. now owns 11,914 shares of the company’s stock valued at $121,000 after buying an additional 457 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Callaway Golf by 5.5% in the second quarter. Legal & General Group Plc now owns 13,698 shares of the company’s stock valued at $138,000 after buying an additional 711 shares during the last quarter. Institutional investors own 85.26% of the company’s stock.
About Callaway Golf
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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