Callaway Golf (NYSE:ELY) Upgraded at StockNews.com

StockNews.com upgraded shares of Callaway Golf (NYSE:ELYGet Rating) from a sell rating to a hold rating in a research report released on Wednesday morning.

A number of other research analysts have also recently weighed in on the company. B. Riley reduced their target price on Callaway Golf from $40.00 to $34.00 in a report on Wednesday, January 26th. Truist Financial reduced their price objective on Callaway Golf from $42.00 to $36.00 and set a buy rating on the stock in a research note on Monday, April 11th. Berenberg Bank restated a buy rating and set a $37.00 price objective on shares of Callaway Golf in a research note on Wednesday, March 9th. Zacks Investment Research upgraded Callaway Golf from a sell rating to a hold rating in a research note on Monday, February 14th. Finally, Roth Capital restated a buy rating on shares of Callaway Golf in a research note on Wednesday, April 27th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $38.45.

ELY stock opened at $21.65 on Wednesday. Callaway Golf has a 52-week low of $17.78 and a 52-week high of $37.75. The stock’s fifty day simple moving average is $22.55 and its 200-day simple moving average is $24.95. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 31.84, a price-to-earnings-growth ratio of 1.62 and a beta of 1.84.

Callaway Golf (NYSE:ELYGet Rating) last issued its earnings results on Tuesday, May 10th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. Callaway Golf had a return on equity of 3.56% and a net margin of 3.87%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the firm earned $0.62 earnings per share. The firm’s revenue for the quarter was up 59.6% compared to the same quarter last year. As a group, analysts anticipate that Callaway Golf will post 0.71 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in ELY. Amalgamated Bank raised its stake in Callaway Golf by 0.6% during the fourth quarter. Amalgamated Bank now owns 77,675 shares of the company’s stock valued at $2,131,000 after buying an additional 430 shares in the last quarter. Profund Advisors LLC grew its holdings in shares of Callaway Golf by 4.6% during the fourth quarter. Profund Advisors LLC now owns 10,123 shares of the company’s stock valued at $278,000 after purchasing an additional 442 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Callaway Golf by 22.9% during the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $66,000 after purchasing an additional 444 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Callaway Golf by 1.2% during the third quarter. Voya Investment Management LLC now owns 44,757 shares of the company’s stock valued at $1,237,000 after purchasing an additional 517 shares during the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of Callaway Golf by 37.8% during the fourth quarter. Harbour Investments Inc. now owns 2,004 shares of the company’s stock valued at $55,000 after purchasing an additional 550 shares during the last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.

About Callaway Golf (Get Rating)

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories. It operates through three segments: Topgolf; Golf Equipment; and Apparel, Gear and Other. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, multiple bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology used by independent driving ranges and broadcast television; and World Golf Tour digital golf game.

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