Callaway Golf Co (NYSE:ELY) gapped down prior to trading on Wednesday . The stock had previously closed at $18.40, but opened at $19.08. Callaway Golf shares last traded at $19.55, with a volume of 62660 shares changing hands.
A number of brokerages recently issued reports on ELY. Imperial Capital upped their price objective on shares of Callaway Golf from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th. They noted that the move was a valuation call. Compass Point set a $20.00 price objective on shares of Callaway Golf and gave the company a “hold” rating in a report on Monday, August 6th. Roth Capital upped their price objective on shares of Callaway Golf from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $26.00 price objective on shares of Callaway Golf in a report on Monday, October 29th. Finally, Cowen upped their price objective on shares of Callaway Golf from $21.00 to $24.00 and gave the company a “hold” rating in a report on Friday, September 28th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $23.00.
The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 2.28. The stock has a market cap of $1.85 billion, a P/E ratio of 36.87, a PEG ratio of 0.74 and a beta of 1.05.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 21st will be given a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $0.04 dividend on an annualized basis and a yield of 0.20%. Callaway Golf’s payout ratio is currently 7.55%.
A number of hedge funds and other institutional investors have recently bought and sold shares of ELY. Itau Unibanco Holding S.A. acquired a new position in Callaway Golf in the second quarter valued at about $135,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Callaway Golf during the third quarter worth about $201,000. Everence Capital Management Inc. acquired a new stake in shares of Callaway Golf during the third quarter worth about $211,000. NumerixS Investment Technologies Inc lifted its position in shares of Callaway Golf by 348.0% during the second quarter. NumerixS Investment Technologies Inc now owns 11,200 shares of the company’s stock worth $215,000 after purchasing an additional 8,700 shares in the last quarter. Finally, Ibex Investors LLC acquired a new stake in shares of Callaway Golf during the third quarter worth about $218,000. 89.70% of the stock is currently owned by institutional investors.
About Callaway Golf (NYSE:ELY)
Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories in the United States and internationally. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other.
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