In a report released today, Alex Maroccia from Berenberg Bank maintained a Buy rating on Callaway Golf (ELY), with a price target of $17.00. The company’s shares closed last Thursday at $19.65, close to its 52-week high of $22.33.
According to TipRanks.com, Maroccia is a 5-star analyst with an average return of 28.0% and a 80.8% success rate. Maroccia covers the Services sector, focusing on stocks such as SiteOne Landscape Supply, Planet Fitness, and Vail Resorts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Callaway Golf with a $19.43 average price target, a -2.9% downside from current levels. In a report issued on July 22, B.Riley FBR also maintained a Buy rating on the stock with a $21.00 price target.
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Callaway Golf’s market cap is currently $1.87B and has a P/E ratio of 32.40. The company has a Price to Book ratio of 26.06.
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Callaway Golf Co. engages in the manufacture and distribution of golf equipment and accessories. It operates through the following segments: Golf Clubs, Golf Balls, and Gear, Accessories & Other. The Golf Clubs segment comprises of Callaway Golf woods, hybrids, irons and wedges, Odyssey putters, including Toulon Design putters by Odyssey, packaged sets and sales of pre-owned golf clubs. The Golf Balls segment designs, manufactures, and sells Callaway Golf and Strata golf balls. The Gear, Accessories, and Other segment consists of soft goods products which include golf apparel and footwear, golf bags, golf gloves, travel gear, headwear and other golf-related accessories, retail apparel sales from the firm’s joint venture in Japan, and OGIO branded products. The company was founded by Ely Reeves Callaway, Jr. in 1982 and is headquartered in Carlsbad, CA.
