Callaway Golf (NYSE:ELY) Hits New 52-Week High at $26.74

Shares of Callaway Golf (NYSE:ELY) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $26.74 and last traded at $26.70, with a volume of 159 shares trading hands. The stock had previously closed at $26.57.

A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Callaway Golf from a “hold” rating to a “strong-buy” rating and set a $31.00 target price on the stock in a research note on Tuesday. Roth Capital lowered their price target on Callaway Golf from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. KeyCorp raised their price target on Callaway Golf from $22.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, January 4th. Compass Point lowered Callaway Golf from a “buy” rating to a “neutral” rating and set a $24.00 price target on the stock. in a report on Monday, December 21st. Finally, ValuEngine lowered Callaway Golf from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $25.58.

The business has a fifty day moving average of $23.80 and a 200-day moving average of $19.91. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of -21.47 and a beta of 2.16. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.49 and a quick ratio of 1.62.

Callaway Golf (NYSE:ELY) last released its earnings results on Monday, November 9th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.60. The firm had revenue of $476.00 million for the quarter, compared to analyst estimates of $451.30 million. Callaway Golf had a positive return on equity of 9.87% and a negative net margin of 7.57%. Callaway Golf’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 earnings per share. As a group, research analysts anticipate that Callaway Golf will post 0.76 EPS for the current year.

In other news, EVP Glenn F. Hickey sold 6,148 shares of Callaway Golf stock in a transaction dated Tuesday, December 1st. The stock was sold at an average price of $22.37, for a total transaction of $137,530.76. Following the completion of the sale, the executive vice president now directly owns 23,618 shares in the company, valued at approximately $528,334.66. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Glenn F. Hickey sold 7,919 shares of the firm’s stock in a transaction that occurred on Thursday, December 3rd. The shares were sold at an average price of $23.11, for a total value of $183,008.09. Company insiders own 2.19% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its stake in shares of Callaway Golf by 3,916.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 147,618 shares of the company’s stock valued at $2,825,000 after acquiring an additional 143,943 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of Callaway Golf during the 3rd quarter worth approximately $986,000. Cubist Systematic Strategies LLC grew its holdings in shares of Callaway Golf by 1,425.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 103,737 shares of the company’s stock worth $1,986,000 after purchasing an additional 96,938 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Callaway Golf by 149.7% in the 3rd quarter. Squarepoint Ops LLC now owns 96,291 shares of the company’s stock valued at $1,843,000 after buying an additional 57,735 shares in the last quarter. Finally, ExodusPoint Capital Management LP acquired a new stake in Callaway Golf in the 3rd quarter valued at $267,000. 96.00% of the stock is currently owned by institutional investors and hedge funds.

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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