Callaway Golf (ELY) Trading Down 7.5%

Callaway Golf (NYSE:ELY) shares traded down 7.5% on Wednesday . The stock traded as low as $16.35 and last traded at $16.39. 2,266,910 shares were traded during trading, an increase of 140% from the average session volume of 945,741 shares. The stock had previously closed at $17.71.

Several research analysts have weighed in on the stock. DA Davidson downgraded shares of Callaway Golf from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $17.71 to $19.00 in a report on Wednesday. They noted that the move was a valuation call. ValuEngine upgraded shares of Callaway Golf from a “buy” rating to a “strong-buy” rating in a report on Monday, April 2nd. Zacks Investment Research downgraded shares of Callaway Golf from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. TheStreet upgraded shares of Callaway Golf from a “c+” rating to a “b” rating in a report on Wednesday, February 14th. Finally, Compass Point downgraded shares of Callaway Golf from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $15.06 to $13.50 in a report on Wednesday, December 27th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $16.74.

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The firm has a market cap of $1,653.21, a P/E ratio of 30.92, a PEG ratio of 1.67 and a beta of 1.03. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.65 and a current ratio of 1.48.

Callaway Golf (NYSE:ELY) last announced its earnings results on Wednesday, February 7th. The company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. The company had revenue of $192.00 million during the quarter, compared to the consensus estimate of $184.74 million. Callaway Golf had a net margin of 3.89% and a return on equity of 7.85%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) earnings per share. analysts expect that Callaway Golf will post 0.7 earnings per share for the current fiscal year.

In related news, SVP Brian P. Lynch sold 25,911 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $14.84, for a total transaction of $384,519.24. Following the completion of the transaction, the senior vice president now owns 31,599 shares in the company, valued at $468,929.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Neil Howie sold 24,838 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $15.75, for a total transaction of $391,198.50. Following the transaction, the insider now owns 95,803 shares of the company’s stock, valued at approximately $1,508,897.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 237,409 shares of company stock valued at $3,783,462. 1.98% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Elkfork Partners LLC bought a new position in Callaway Golf during the fourth quarter valued at about $171,000. Xact Kapitalforvaltning AB bought a new position in Callaway Golf during the fourth quarter valued at about $173,000. We Are One Seven LLC bought a new position in Callaway Golf during the fourth quarter valued at about $272,000. MetLife Investment Advisors LLC bought a new position in Callaway Golf during the fourth quarter valued at about $651,000. Finally, Gotham Asset Management LLC grew its position in Callaway Golf by 520.5% during the fourth quarter. Gotham Asset Management LLC now owns 287,777 shares of the company’s stock valued at $4,009,000 after buying an additional 241,399 shares during the period. Institutional investors own 88.97% of the company’s stock.

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Callaway Golf Company Profile

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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