Callaway Golf Company (NYSE:ELY)‘s stock had its “buy” rating restated by equities research analysts at Aegis in a research note issued on Monday.

A number of other research analysts also recently weighed in on the company. KeyCorp reissued a “buy” rating and issued a $16.00 price objective on shares of Callaway Golf in a research note on Thursday, August 31st. BidaskClub raised Callaway Golf from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Imperial Capital reissued an “outperform” rating and issued a $16.00 price objective on shares of Callaway Golf in a research note on Thursday, August 24th. Zacks Investment Research raised Callaway Golf from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Monday, August 7th. Finally, Compass Point downgraded Callaway Golf from a “buy” rating to a “neutral” rating and raised their price objective for the company from $13.60 to $13.75 in a research note on Monday, August 7th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Callaway Golf currently has an average rating of “Buy” and an average price target of $14.98.

Callaway Golf (NYSE:ELY) opened at 13.86 on Monday. The stock has a market cap of $1.31 billion, a PE ratio of 7.66 and a beta of 1.18. The firm has a 50-day moving average price of $13.06 and a 200-day moving average price of $12.20. Callaway Golf has a 12-month low of $9.77 and a 12-month high of $14.11.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.05. Callaway Golf had a return on equity of 6.60% and a net margin of 18.09%. The business had revenue of $304.50 million for the quarter, compared to the consensus estimate of $295.70 million. During the same period last year, the business earned $0.36 EPS. The firm’s revenue was up 24.0% compared to the same quarter last year. Analysts forecast that Callaway Golf will post $0.44 EPS for the current fiscal year.

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In related news, VP Mark F. Leposky sold 31,691 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $14.00, for a total transaction of $443,674.00. Following the completion of the transaction, the vice president now owns 68,343 shares in the company, valued at approximately $956,802. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Oliver G. Brewer III sold 131,884 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $13.31, for a total value of $1,755,376.04. Following the transaction, the insider now owns 291,399 shares of the company’s stock, valued at approximately $3,878,520.69. The disclosure for this sale can be found here. Insiders have sold a total of 281,113 shares of company stock valued at $3,792,388 in the last 90 days. 2.59% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of ELY. Louisiana State Employees Retirement System lifted its position in shares of Callaway Golf by 1.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 38,500 shares of the company’s stock worth $426,000 after buying an additional 700 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Callaway Golf by 2.6% during the 1st quarter. State of Alaska Department of Revenue now owns 10,440 shares of the company’s stock worth $115,000 after buying an additional 260 shares during the period. Wells Fargo & Company MN lifted its position in shares of Callaway Golf by 6.7% during the 1st quarter. Wells Fargo & Company MN now owns 1,272,874 shares of the company’s stock worth $14,090,000 after buying an additional 79,764 shares during the period. Great West Life Assurance Co. Can lifted its position in shares of Callaway Golf by 6.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 132,248 shares of the company’s stock worth $1,462,000 after buying an additional 7,624 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Callaway Golf by 97.6% during the 1st quarter. First Trust Advisors LP now owns 124,061 shares of the company’s stock worth $1,373,000 after buying an additional 61,269 shares during the period. Institutional investors and hedge funds own 87.63% 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 its trademarks and service marks and sales of pre-owned golf clubs.

Analyst Recommendations for Callaway Golf (NYSE:ELY)

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