Callaway Golf (NYSE:ELY) was downgraded by stock analysts at Compass Point from a “neutral” rating to a “sell” rating in a report issued on Wednesday.

ELY has been the topic of a number of other reports. KeyCorp restated an “overweight” rating and issued a $16.00 target price on shares of Callaway Golf in a report on Wednesday, August 30th. FBR & Co set a $16.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a report on Thursday, October 26th. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a report on Friday, October 27th. B. Riley restated a “buy” rating on shares of Callaway Golf in a report on Wednesday, November 1st. Finally, Jefferies Group set a $19.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Callaway Golf presently has an average rating of “Buy” and an average target price of $15.84.

Shares of Callaway Golf (NYSE ELY) opened at $15.06 on Wednesday. The company has a market cap of $1,431.28, a price-to-earnings ratio of 7.88, a price-to-earnings-growth ratio of 1.97 and a beta of 1.12. Callaway Golf has a one year low of $9.93 and a one year high of $15.63.

Callaway Golf (NYSE:ELY) last announced its quarterly earnings results on Wednesday, October 25th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.09. Callaway Golf had a net margin of 17.97% and a return on equity of 7.88%. The business had revenue of $243.60 million for the quarter, compared to analysts’ expectations of $209.52 million. During the same quarter in the previous year, the company earned ($0.06) EPS. The business’s quarterly revenue was up 29.7% compared to the same quarter last year. analysts expect that Callaway Golf will post 0.51 earnings per share for the current year.

In related news, insider Jennifer L. Thomas sold 8,503 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $14.95, for a total transaction of $127,119.85. Following the transaction, the insider now directly owns 28,143 shares in the company, valued at approximately $420,737.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard H. Arnett sold 8,070 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $14.01, for a total transaction of $113,060.70. Following the transaction, the senior vice president now owns 5,000 shares in the company, valued at $70,050. The disclosure for this sale can be found here. Insiders have sold a total of 46,588 shares of company stock worth $694,031 over the last quarter. 2.59% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. Riverhead Capital Management LLC grew its stake in Callaway Golf by 69.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock worth $106,000 after acquiring an additional 3,426 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new position in Callaway Golf in the 2nd quarter worth about $109,000. Flinton Capital Management LLC grew its stake in Callaway Golf by 71.6% in the 2nd quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock worth $145,000 after acquiring an additional 4,726 shares in the last quarter. Amalgamated Bank grew its stake in Callaway Golf by 1.3% in the 2nd quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock worth $164,000 after acquiring an additional 160 shares in the last quarter. Finally, Allianz Asset Management GmbH bought a new position in Callaway Golf in the 3rd quarter worth about $182,000. Institutional investors own 88.11% of the company’s stock.

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About Callaway Golf

Callaway Golf Company designs, manufactures and sells golf clubs, golf balls, golf bags and other golf-related accessories. The Company has two segments: the golf clubs segment and golf balls segment. The golf clubs segment consists of its woods, hybrids, irons and wedges, and Odyssey putters. This segment also includes other golf-related accessories, royalties from licensing of its trademarks and service marks and sales of pre-owned golf clubs.

Analyst Recommendations for Callaway Golf (NYSE:ELY)

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