Callaway Golf (NYSE:ELY) had its price objective hoisted by stock analysts at SunTrust Banks from $16.00 to $20.00 in a report issued on Monday, The Fly reports. The firm currently has a “buy” rating on the stock. SunTrust Banks’ price target would suggest a potential upside of 13.06% from the stock’s previous close. SunTrust Banks also issued estimates for Callaway Golf’s Q1 2021 earnings at $0.47 EPS, Q2 2021 earnings at $0.18 EPS and Q3 2021 earnings at $0.29 EPS.

ELY has been the topic of a number of other reports. Raymond James lifted their price target on Callaway Golf from $14.50 to $17.50 and gave the company an “outperform” rating in a report on Tuesday, June 16th. Cowen lifted their price target on Callaway Golf from $18.00 to $22.00 in a report on Wednesday, June 10th. Stephens lifted their price target on Callaway Golf from $17.00 to $21.00 in a report on Wednesday, June 10th. KeyCorp lifted their price target on Callaway Golf from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Finally, Zacks Investment Research upgraded Callaway Golf from a “sell” rating to a “hold” rating in a report on Friday, April 24th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $20.82.

Shares of NYSE ELY opened at $17.69 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.44 and a debt-to-equity ratio of 0.83. The business has a fifty day simple moving average of $15.50 and a two-hundred day simple moving average of $16.21. The firm has a market cap of $1.66 billion, a PE ratio of 29.00 and a beta of 1.97. Callaway Golf has a twelve month low of $4.75 and a twelve month high of $22.33.

Callaway Golf (NYSE:ELY) last issued its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. The business had revenue of $442.28 million during the quarter, compared to analyst estimates of $440.70 million. Callaway Golf had a return on equity of 9.95% and a net margin of 3.67%. Callaway Golf’s revenue was down 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. On average, research analysts expect that Callaway Golf will post 0.29 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. grew its stake in Callaway Golf by 1.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 36,960 shares of the company’s stock worth $784,000 after buying an additional 626 shares during the last quarter. Victory Capital Management Inc. grew its stake in Callaway Golf by 4.6% during the 4th quarter. Victory Capital Management Inc. now owns 15,414 shares of the company’s stock worth $327,000 after buying an additional 681 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in Callaway Golf by 22.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 4,133 shares of the company’s stock valued at $42,000 after purchasing an additional 760 shares during the last quarter. Mason Street Advisors LLC grew its stake in Callaway Golf by 2.6% during the 4th quarter. Mason Street Advisors LLC now owns 32,778 shares of the company’s stock valued at $695,000 after purchasing an additional 828 shares during the last quarter. Finally, Shaker Investments LLC OH grew its stake in Callaway Golf by 3.0% during the 1st quarter. Shaker Investments LLC OH now owns 30,400 shares of the company’s stock valued at $311,000 after purchasing an additional 895 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

About Callaway Golf

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other. The Golf Clubs segment provides golf drivers and fairway woods, hybrids, irons and wedges, putters, packaged sets, and pre-owned golf clubs.

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Analyst Recommendations for Callaway Golf (NYSE:ELY)

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