Compass Point Upgrades Callaway Golf Co to Buy

Brokerage firm Compass Point Upgrades its rating on Callaway Golf Co(ELY). The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Compass Point was issued on Feb 3, 2017.

Callaway Golf Co (ELY) made into the market gainers list on Tuesdays trading session with the shares advancing 2.77% or 0.28 points. Due to strong positive momentum, the stock ended at $10.38, which is also near the day’s high of $10.425. The stock began the session at $10.1 and the volume stood at 14,21,712 shares. The 52-week high of the shares is $12.56 and the 52 week low is $8.05. The company has a current market capitalization of $977 M and it has 9,41,12,834 shares in outstanding.

Callaway Golf Co(ELY) last announced its earnings results on Feb 2, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $163.695M. Analysts had an estimated revenue of $170.870M. Earnings per share were $-0.18. Analysts had estimated an EPS of $-0.17.

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 www.callawaygolfpreowned.com. In addition the Company sells Odyssey and its products direct to consumers through its Websites www.callawaygolf.com and www.odysseygolf.com. The Company’s products are sold in the United States and in approximately 100 countries around the world.

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