The stock of Callaway Golf Co (NYSE:ELY) hit a new 52-week high and has $15.04 target or 23.00% above today’s $12.23 share price. The 9 months bullish chart indicates low risk for the $1.17 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $15.04 price target is reached, the company will be worth $269.10 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 360,052 shares traded hands. Callaway Golf Co (NYSE:ELY) has risen 31.41% since April 15, 2016 and is uptrending. It has outperformed by 26.79% the S&P500.
Callaway Golf Co (NYSE:ELY) Ratings Coverage
Out of 9 analysts covering Callaway Golf (NYSE:ELY), 8 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 89% are positive. $14 is the highest target while $10 is the lowest. The $12.43 average target is 1.64% above today’s ($12.23) stock price. Callaway Golf has been the topic of 11 analyst reports since August 23, 2015 according to StockzIntelligence Inc. The stock of Callaway Golf Co (NYSE:ELY) has “Buy” rating given on Sunday, August 23 by Sterne Agee CRT. Wunderlich upgraded Callaway Golf Co (NYSE:ELY) rating on Monday, May 23. Wunderlich has “Buy” rating and $12 price target. The firm has “Buy” rating by Ladenburg Thalmann given on Monday, January 4. The firm has “Outperform” rating given on Tuesday, March 15 by Imperial Capital. The firm earned “Buy” rating on Wednesday, February 24 by DA Davidson. The rating was initiated by Compass Point on Friday, September 9 with “Neutral”. FBR Capital initiated it with “Outperform” rating and $12 target price in Thursday, June 30 report. Suntrust Robinson upgraded Callaway Golf Co (NYSE:ELY) on Friday, May 13 to “Buy” rating. The stock of Callaway Golf Co (NYSE:ELY) has “Buy” rating given on Friday, May 13 by SunTrust.
According to Zacks Investment Research, “Callaway Golf Company is designs, develops, manufactures and markets high quality, innovative golf clubs. The Company’s golf clubs are sold at premium prices to both average and skilled golfers on the basis of performance, ease of use and appearance.”
Insitutional Activity: The institutional sentiment decreased to 1.41 in 2016 Q2. Its down 0.06, from 1.47 in 2016Q1. The ratio is negative, as 22 funds sold all Callaway Golf Co shares owned while 52 reduced positions. 28 funds bought stakes while 76 increased positions. They now own 75.32 million shares or 1.95% less from 76.82 million shares in 2016Q1.
The Texas-based Dimensional Fund Advisors Lp has invested 0.03% in Callaway Golf Co (NYSE:ELY). Aperio Group Inc Lc, a California-based fund reported 17,845 shares. Invesco Limited has 0% invested in the company for 133,943 shares. Moreover, Finemark State Bank Tru has 0.04% invested in Callaway Golf Co (NYSE:ELY) for 36,005 shares. The New York-based Renaissance Technology Lc has invested 0.02% in Callaway Golf Co (NYSE:ELY). Keybank Association Oh holds 108,476 shares or 0.01% of its portfolio. Highbridge Cap Mgmt Ltd Company last reported 72,323 shares in the company. Cubist Systematic Strategies Limited Liability Corporation accumulated 0.03% or 47,077 shares. Ancora Limited Liability Company holds 0.18% or 149,400 shares in its portfolio. State Teachers Retirement System has 283,594 shares for 0.01% of their US portfolio. Manufacturers Life Ins The holds 0% or 65,339 shares in its portfolio. Northern Tru Corp reported 1.09M shares or 0% of all its holdings. Punch And Associates, a Minnesota-based fund reported 1.23M shares. Boston accumulated 534,940 shares or 0.01% of the stock. Prudential Fincl Incorporated holds 226,997 shares or 0% of its portfolio.
More important recent Callaway Golf Co (NYSE:ELY) news were published by: Fool.com which released: “Why Callaway Golf Co. Stock Was Surging Today” on November 04, 2016, also Bloomberg.com published article titled: “Callaway Surges After Nike Abandons Golf-Equipment Market”, Prnewswire.com published: “Rock Ishii Joins Callaway Golf Ball R&D” on November 03, 2016. More interesting news about Callaway Golf Co (NYSE:ELY) was released by: Prnewswire.com and their article: “Callaway Golf Company to Broadcast Third Quarter 2016 Financial Results” with publication date: October 27, 2016.
ELY Company Profile
Callaway Golf Company, incorporated on May 7, 1999, designs, makes and sells golf clubs, golf balls, golf bags and other golf-related accessories. The Firm has two divisions: 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 the Company’s trademarks and service marks and sales of pre-owned golf clubs. The golf balls segment consists of the Company’s balls that are designed, manufactured and sold by the Company. The Firm sells its products to retailers, directly and through its wholly owned subsidiaries, and to third-party distributors. The Firm sells pre-owned golf products through its Website, www.callawaygolfpreowned.com. In addition, the Company sells Odyssey and its products direct to clients through its Websites www.callawaygolf.com and www.odysseygolf.com. The Firm also licenses its trademarks and service marks for use on golf related accessories, including golf apparel and footwear, prescription eyewear, golf gloves, umbrellas and practice aids. The Company’s products are sold in the United States and in approximately 100 countries around the world.
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