The stock of Callaway Golf Co (NYSE:ELY) hit a new 52-week high and has $12.78 target or 3.00% above today’s $12.41 share price. The 8 months bullish chart indicates low risk for the $1.18 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $12.78 price target is reached, the company will be worth $35.40 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 124,882 shares traded hands. Callaway Golf Co (NYSE:ELY) has risen 34.24% since April 20, 2016 and is uptrending. It has outperformed by 29.68% 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 0.16% above today’s ($12.41) 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 “Neutral” rating given on Friday, September 9 by Compass Point. The rating was upgraded by Wunderlich to “Buy” on Monday, May 23. The company was initiated on Monday, January 4 by Ladenburg Thalmann. As per Friday, May 13, the company rating was upgraded by SunTrust. The rating was maintained by Sterne Agee CRT with “Buy” on Sunday, August 23. The stock of Callaway Golf Co (NYSE:ELY) earned “Buy” rating by Suntrust Robinson on Friday, May 13. The stock has “Buy” rating given by DA Davidson on Wednesday, February 24. FBR Capital initiated Callaway Golf Co (NYSE:ELY) rating on Thursday, June 30. FBR Capital has “Outperform” rating and $12 price target. The stock of Callaway Golf Co (NYSE:ELY) earned “Outperform” rating by Imperial Capital on Tuesday, March 15.
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 1.13 in 2016 Q2. Its down 0.28, from 1.41 in 2016Q1. The ratio turned 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.
Art Advsrs Limited Co last reported 0.13% of its portfolio in the stock. The Maryland-based Profund Advsrs Limited Com has invested 0.01% in Callaway Golf Co (NYSE:ELY). Deere & Co last reported 0.03% of its portfolio in the stock. Moreover, Ruffer Ltd Liability Partnership has 0.07% invested in Callaway Golf Co (NYSE:ELY) for 144,000 shares. Bernzott Capital Advsr, a California-based fund reported 1.59 million shares. Allianz Asset Management Ag accumulated 0% or 26,645 shares. The Ontario – Canada-based Manufacturers Life Insurance Com The has invested 0% in Callaway Golf Co (NYSE:ELY). Hartford Mgmt Com, a Connecticut-based fund reported 383,646 shares. Barclays Public Ltd Com has 0% invested in the company for 8,239 shares. Ls Advsrs Ltd Liability Corporation holds 0% of its portfolio in Callaway Golf Co (NYSE:ELY) for 3,392 shares. Blackrock Incorporated accumulated 20,831 shares or 0% of the stock. Thrivent Financial For Lutherans holds 273,870 shares or 0.01% of its portfolio. Ladenburg Thalmann Financial Svcs Inc, a Florida-based fund reported 7,082 shares. Millennium Ltd holds 1.84 million shares or 0.04% of its portfolio. Metropolitan Life has invested 0.01% of its portfolio in Callaway Golf Co (NYSE:ELY).
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: “Callaway Golf Company Announces Second Quarter 2016 Financial Results …” on July 27, 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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