Callaway Golf (NYSE:ELY) Price Target Lowered to $36.00 at Truist Financial

Callaway Golf (NYSE:ELYGet Rating) had its price target cut by Truist Financial from $42.00 to $36.00 in a research report released on Monday morning, The Fly reports. They currently have a buy rating on the stock.

Several other equities analysts have also weighed in on ELY. The Goldman Sachs Group lifted their target price on shares of Callaway Golf from $27.00 to $31.00 and gave the company a neutral rating in a report on Monday, March 7th. assumed coverage on shares of Callaway Golf in a report on Thursday, March 31st. They set a sell rating on the stock. Berenberg Bank reiterated a buy rating and issued a $37.00 price objective on shares of Callaway Golf in a report on Wednesday, March 9th. Zacks Investment Research upgraded shares of Callaway Golf from a sell rating to a hold rating in a report on Monday, February 14th. Finally, B. Riley cut their price objective on shares of Callaway Golf from $40.00 to $34.00 in a report on Wednesday, January 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $39.36.

Shares of NYSE ELY opened at $22.20 on Monday. Callaway Golf has a 52-week low of $20.45 and a 52-week high of $37.75. The firm has a fifty day moving average of $23.54 and a 200-day moving average of $25.95. The stock has a market capitalization of $4.11 billion, a PE ratio of 9.14, a P/E/G ratio of 4.99 and a beta of 1.93. The company has a quick ratio of 0.73, a current ratio of 1.35 and a debt-to-equity ratio of 0.28.

Callaway Golf (NYSE:ELYGet Rating) last posted its earnings results on Thursday, February 10th. The company reported ($0.19) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.09. The business had revenue of $711.72 million for the quarter, compared to analyst estimates of $703.02 million. Callaway Golf had a net margin of 10.28% and a return on equity of 3.74%. The business’s quarterly revenue was up 90.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.33) EPS. Equities research analysts expect that Callaway Golf will post 0.66 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Corbenic Partners LLC acquired a new stake in shares of Callaway Golf in the 4th quarter valued at about $25,000. Huntington National Bank bought a new position in Callaway Golf in the third quarter worth about $26,000. Byrne Asset Management LLC lifted its holdings in Callaway Golf by 117.9% in the first quarter. Byrne Asset Management LLC now owns 1,244 shares of the company’s stock worth $29,000 after acquiring an additional 673 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Callaway Golf during the 4th quarter valued at approximately $47,000. Finally, Harbour Investments Inc. grew its stake in Callaway Golf by 37.8% during the 4th quarter. Harbour Investments Inc. now owns 2,004 shares of the company’s stock worth $55,000 after buying an additional 550 shares during the last quarter. Institutional investors and hedge funds own 94.25% of the company’s stock.

Callaway Golf Company Profile (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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