Callaway Golf (NYSE:ELY) shares traded down 5.5% during trading on Tuesday . The stock traded as low as $28.11 and last traded at $28.27. 2,577,697 shares traded hands during trading, an increase of 32% from the average session volume of 1,947,063 shares. The stock had previously closed at $29.93.
Several research analysts have commented on the stock. Roth Capital dropped their price objective on shares of Callaway Golf from $27.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. Raymond James upped their target price on shares of Callaway Golf from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, February 11th. Cowen cut shares of Callaway Golf from an “outperform” rating to a “market perform” rating and set a $28.00 target price on the stock. in a research report on Tuesday. They noted that the move was a valuation call. KeyCorp raised their target price on shares of Callaway Golf from $28.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Berenberg Bank started coverage on shares of Callaway Golf in a research note on Wednesday, October 28th. They set a “buy” rating and a $23.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $28.27.
The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -22.62 and a beta of 2.16. The business’s 50-day moving average is $27.78 and its two-hundred day moving average is $21.85. The company has a quick ratio of 1.62, a current ratio of 2.49 and a debt-to-equity ratio of 0.95.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Tuesday, February 9th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.13). The business had revenue of $375.00 million for the quarter, compared to analyst estimates of $337.40 million. Callaway Golf had a positive return on equity of 9.87% and a negative net margin of 7.57%. The business’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.26) earnings per share. As a group, analysts forecast that Callaway Golf will post 0.76 EPS for the current fiscal year.
In other Callaway Golf news, EVP Glenn F. Hickey sold 7,919 shares of the business’s stock in a transaction dated Thursday, December 3rd. The shares were sold at an average price of $23.11, for a total value of $183,008.09. Also, EVP Glenn F. Hickey sold 6,148 shares of the business’s stock in a transaction dated Tuesday, December 1st. The shares were sold at an average price of $22.37, for a total transaction of $137,530.76. Following the completion of the transaction, the executive vice president now owns 23,618 shares in the company, valued at $528,334.66. The disclosure for this sale can be found here. Insiders own 2.19% of the company’s stock.
Large investors have recently bought and sold shares of the business. Oder Investment Management LLC acquired a new position in Callaway Golf in the 4th quarter valued at about $26,000. Steward Partners Investment Advisory LLC boosted its holdings in Callaway Golf by 333.3% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,300 shares of the company’s stock valued at $25,000 after purchasing an additional 1,000 shares during the last quarter. Vantage Consulting Group Inc purchased a new stake in shares of Callaway Golf in the 4th quarter valued at approximately $42,000. Nisa Investment Advisors LLC purchased a new stake in shares of Callaway Golf in the 3rd quarter valued at approximately $49,000. Finally, Veriti Management LLC purchased a new stake in shares of Callaway Golf in the 4th quarter valued at approximately $77,000.
Callaway Golf Company Profile (NYSE:ELY)
Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs and golf balls, apparel, gear, and other products. It operates through two segments, Golf Equipment; and Apparel, Gear and Other. The Golf Equipment segment provides drivers, fairway woods, hybrids, irons, wedges and packaged sets, putters, and pre-owned golf clubs under the Callaway and Odyssey brands, as well as golf balls under the Callaway Golf and Strata brand names.
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