Callaway Golf (NYSE:ELY) Rating Reiterated by Roth Capital

Callaway Golf (NYSE:ELYGet Rating)‘s stock had its “buy” rating reaffirmed by equities researchers at Roth Capital in a report issued on Wednesday, Zacks.com reports.

ELY has been the topic of several other reports. Truist Financial cut their price objective on shares of Callaway Golf from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, April 11th. Berenberg Bank reiterated a “buy” rating and set 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. B. Riley cut their price objective on shares of Callaway Golf from $40.00 to $34.00 in a report on Wednesday, January 26th. Finally, The Goldman Sachs Group increased their price objective on shares of Callaway Golf from $27.00 to $31.00 and gave the stock a “neutral” rating in a report on Monday, March 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $39.36.

Callaway Golf stock opened at $22.62 on Wednesday. Callaway Golf has a 12-month low of $20.45 and a 12-month high of $37.75. The stock has a market capitalization of $4.18 billion, a P/E ratio of 9.31, a P/E/G ratio of 5.13 and a beta of 1.93. The firm’s 50-day moving average is $23.14 and its two-hundred day moving average is $25.48. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.35 and a quick ratio of 0.73.

Callaway Golf (NYSE:ELYGet Rating) last released its quarterly earnings results on Thursday, February 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.09. The company had revenue of $711.72 million for the quarter, compared to analysts’ expectations of $703.02 million. Callaway Golf had a net margin of 10.28% and a return on equity of 3.74%. The firm’s revenue for the quarter was up 90.0% compared to the same quarter last year. During the same period last year, the company earned ($0.33) EPS. As a group, analysts forecast that Callaway Golf will post 0.65 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Corbenic Partners LLC purchased a new stake in shares of Callaway Golf during the fourth quarter valued at approximately $25,000. Byrne Asset Management LLC raised its stake in shares of Callaway Golf by 117.9% during the first quarter. Byrne Asset Management LLC now owns 1,244 shares of the company’s stock valued at $29,000 after purchasing an additional 673 shares during the period. CWM LLC raised its stake in shares of Callaway Golf by 110.9% during the first quarter. CWM LLC now owns 1,643 shares of the company’s stock valued at $38,000 after purchasing an additional 864 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Callaway Golf during the fourth quarter valued at approximately $47,000. Finally, Harbour Investments Inc. raised its stake 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 period. Institutional investors own 94.25% 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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