Berenberg Bank Remains a Buy on Callaway Golf (ELY)


Berenberg Bank analyst Alex Maroccia maintained a Buy rating on Callaway Golf (ELY) on August 8 and set a price target of $24. The company’s shares closed on Friday at $18.82.

According to TipRanks.com, Maroccia is a 4-star analyst with an average return of 18.5% and a 100.0% success rate. Maroccia covers the Services sector, focusing on stocks such as National Vision Holdings Inc, SiteOne Landscape Supply, and Sothebys.

Callaway Golf has an analyst consensus of Moderate Buy, with a price target consensus of $24.33, which is a 29.3% upside from current levels. In a report issued on August 9, B.Riley FBR also reiterated a Buy rating on the stock with a $30 price target.

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Based on Callaway Golf’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $28.93 million. In comparison, last year the company had a net profit of $60.87 million.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ELY in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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