The stock of Callaway Golf Co (NYSE:ELY) hit a new 52-week high and has $18.33 target or 52.00% above today’s $12.06 share price. The 8 months bullish chart indicates low risk for the $1.15B company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $18.33 price target is reached, the company will be worth $598.00 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 700,140 shares traded hands. Callaway Golf Co (NYSE:ELY) has risen 30.30% since April 11, 2016 and is uptrending. It has outperformed by 24.15% 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. Callaway Golf has been the topic of 11 analyst reports since August 23, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by DA Davidson on Wednesday, February 24. The stock has “Buy” rating given by Sterne Agee CRT on Sunday, August 23. Wunderlich upgraded Callaway Golf Co (NYSE:ELY) on Monday, May 23 to “Buy” rating. The firm has “Buy” rating given on Friday, May 13 by Suntrust Robinson. As per Friday, September 9, the company rating was initiated by Compass Point. FBR Capital initiated the shares of ELY in a report on Thursday, June 30 with “Outperform” rating. On Tuesday, March 15 the stock rating was initiated by Imperial Capital with “Outperform”. The rating was initiated by Ladenburg Thalmann with “Buy” on Monday, January 4. As per Friday, May 13, the company rating was upgraded 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 Q2 2016. Its down 0.06, from 1.47 in 2016Q1. The ratio dived, 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.
Tower Cap Llc (Trc) holds 0.01% or 5,169 shares in its portfolio. Federated Pa reported 2,815 shares or 0% of all its holdings. Blackrock Fund Advsr reported 5.99 million shares or 0.01% of all its holdings. Vanguard Group Inc holds 0% or 4.13 million shares in its portfolio. Engineers Gate Manager L P owns 96,177 shares or 0.07% of their US portfolio. Capstone Asset Management Company holds 0.01% of its portfolio in Callaway Golf Co (NYSE:ELY) for 25,070 shares. Moreover, Advsr Asset Management has 0% invested in Callaway Golf Co (NYSE:ELY) for 20,187 shares. Swiss Bancorp holds 0% or 151,600 shares in its portfolio. California Pub Employees Retirement Systems has 13,100 shares for 0% of their US portfolio. Yost Cap Mngmt Llc has invested 12.54% of its portfolio in Callaway Golf Co (NYSE:ELY). C M Bidwell & Assoc has invested 0.05% of its portfolio in Callaway Golf Co (NYSE:ELY). Citigroup owns 1,061 shares or 0% of their US portfolio. Mufg Americas Corp has 2,631 shares for 0% of their US portfolio. Millrace Asset Group Inc Inc holds 156,778 shares or 2.61% of its portfolio. The Colorado-based Brc Invest Mngmt Lc has invested 0.03% in Callaway Golf Co (NYSE:ELY).
More 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 Prnewswire.com published the news titled: “Rock Ishii Joins Callaway Golf Ball R&D” on November 03, 2016. Prnewswire.com‘s news article titled: “Callaway Golf Company to Broadcast Third Quarter 2016 Financial Results” with publication date: October 27, 2016 was also an interesting one.
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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