Roth Capital Reinstates Callaway Golf Co to Buy

Brokerage firm Roth Capital Reinstates its rating on Callaway Golf Co(NYSE:ELY). The shares have been rated Buy. The rating by Roth Capital was issued on Jun 30, 2016.

In a different note, FBR Capital said it Initiates Coverage on Callaway Golf Co, according to a research note issued on Jun 30, 2016. The shares have been rated ‘Outperform’ by the firm. On May 23, 2016, Wunderlich said it Upgrades its rating on Callaway Golf Co. In the research note, the firm Raises the price-target to $10.00 per share. The shares have been rated ‘Buy’ by the firm. On May 13, 2016, SunTrust Robinson Humphrey said it Upgrades its rating on Callaway Golf Co. The shares have been rated ‘Buy’ by the firm.

Callaway Golf Co (ELY) shares turned negative on Tuesdays trading session with the shares closing down -0.17 points or -1.66% at a volume of 5,26,671. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $10.19. The peak price level was also seen at $10.19 while the days lowest was $9.99. Finally the shares closed at $10.09. The 52-week high of the shares is $10.62 while the 52-week low is $7.97. According to the latest information available, the market cap of the company is $948 M.

Callaway Golf Co(ELY) last announced its earnings results on Apr 27, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $274.05M. Analysts had an estimated revenue of $280.86M. Earnings per share were $0.40. Analysts had estimated an EPS of $0.38.

Several Insider Transactions has been reported to the SEC. On Feb 5, 2016, Brian P. Lynch (SVP, G.C. & Corp Secretary) sold 16,584 shares at $9.52 per share price.Also, On Apr 28, 2015, Bradley J Holiday (SEVP, CFO) sold 59,518 shares at $10.05 per share price.On Apr 21, 2015, Alan Hocknell (SVP, Research & Development) sold 70,950 shares at $9.95 per share price, according to the Form-4 filing with the securities and exchange commission.

Callaway Golf Company designs manufactures and sells golf clubs golf balls golf bags and other golf-related accessories. The Company has two segments: 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 Company sells pre-owned golf products through its Website In addition the Company sells Odyssey and its products direct to consumers through its Websites and The Company’s products are sold in the United States and in approximately 100 countries around the world.

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