Jefferies Financial Group Increases Callaway Golf (NYSE:ELY) Price Target to $27.00

Callaway Golf (NYSE:ELY) had its target price raised by Jefferies Financial Group from $25.00 to $27.00 in a report issued on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the stock.

ELY has been the subject of a number of other research reports. ValuEngine upgraded shares of Callaway Golf from a hold rating to a buy rating in a research note on Wednesday, October 14th. KeyCorp increased their target price on shares of Callaway Golf from $17.00 to $22.00 and gave the stock an overweight rating in a research report on Monday, August 10th. B. Riley increased their target price on shares of Callaway Golf from $23.00 to $24.00 in a research report on Tuesday, September 29th. Compass Point cut shares of Callaway Golf from a buy rating to a neutral rating and set a $20.00 target price for the company. in a research report on Friday, August 7th. Finally, Berenberg Bank started coverage on shares of Callaway Golf in a research report on Wednesday. They set a buy rating and a $23.00 target price for the company. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $22.73.

Shares of ELY stock opened at $15.65 on Wednesday. Callaway Golf has a 52-week low of $4.75 and a 52-week high of $22.33. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -10.65 and a beta of 2.00. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.34 and a current ratio of 2.45. The firm has a fifty day moving average of $19.50 and a 200-day moving average of $17.06.

Callaway Golf (NYSE:ELY) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.12. Callaway Golf had a negative net margin of 9.27% and a positive return on equity of 6.33%. The company had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $286.35 million. During the same quarter in the prior year, the company posted $0.37 EPS. The business’s revenue was down 33.5% on a year-over-year basis. On average, sell-side analysts predict that Callaway Golf will post 0.45 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cadian Capital Management LP acquired a new stake in Callaway Golf in the 2nd quarter valued at about $52,033,000. State Street Corp boosted its stake in shares of Callaway Golf by 6.5% in the 1st quarter. State Street Corp now owns 2,829,537 shares of the company’s stock valued at $28,918,000 after purchasing an additional 171,480 shares during the last quarter. Fisher Asset Management LLC bought a new position in shares of Callaway Golf in the 2nd quarter valued at about $41,038,000. Bank of America Corp DE boosted its stake in shares of Callaway Golf by 314.0% in the 2nd quarter. Bank of America Corp DE now owns 2,273,085 shares of the company’s stock valued at $39,802,000 after purchasing an additional 1,724,011 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its stake in shares of Callaway Golf by 8.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 1,389,966 shares of the company’s stock valued at $24,338,000 after purchasing an additional 106,870 shares during the last quarter.

About Callaway Golf

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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