Callaway Golf Company [ELY] Stock trading around $27.63 per share: What’s Next?



Callaway Golf Company [NYSE: ELY] loss -3.09% or -0.88 points to close at $27.63 with a heavy trading volume of 2505520 shares. The company report on September 21, 2021 that Callaway Golf Company Announces Closing of Public Offering of Common Stock by Selling Stockholder and Full Exercise of the Underwriters’ Option to Purchase Additional Shares.

Callaway Golf Company (the “Company” or “Callaway”) (NYSE: ELY) announced the closing of its previously announced underwritten public offering of 4,600,000 shares of its common stock, which includes the full exercise by the underwriters of their option to purchase up to 600,000 additional shares of common stock, at a public offering price of $29.25 per share, before deducting underwriting discounts and commissions, all of which were sold by PEP TG Investments LP. Callaway did not sell any of its shares in the offering and did not receive any of the proceeds from the sale of shares in the offering by PEP TG Investments LP.

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Goldman Sachs & Co. LLC, BofA Securities and J.P. Morgan acted as joint book-running managers and MUFG acted as co-manager of the offering.

It opened the trading session at $28.55, the shares rose to $28.5619 and dropped to $27.52, the range by which the price of stock traded the whole day. The daily chart for ELY points out that the company has recorded 1.77% gains over the past six months. However, it is still -88.99% lower than its most recent low trading price.

If we look at the average trading volume of 1.99M shares, ELY reached to a volume of 2505520 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Callaway Golf Company [ELY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ELY shares is $40.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ELY stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Berenberg have made an estimate for Callaway Golf Company shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 31, 2021. The new note on the price target was released on February 16, 2021, representing the official price target for Callaway Golf Company stock. Previously, the target price had yet another raise to $24, while Compass Point analysts kept a Neutral rating on ELY stock.

The Average True Range (ATR) for Callaway Golf Company is set at 1.10, with the Price to Sales ratio for ELY stock in the period of the last 12 months amounting to 2.15. The Price to Book ratio for the last quarter was 1.37, with the Price to Cash per share for the same quarter was set at 2.21. Price to Free Cash Flow for ELY in the course of the last twelve months was 24.22 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for ELY stock

Callaway Golf Company [ELY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.53. With this latest performance, ELY shares dropped by -1.53% in over the last four-week period, additionally plugging by 1.77% over the last 6 months – not to mention a rise of 44.36% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ELY stock in for the last two-week period is set at 39.57, with the RSI for the last a single of trading hit 34.33, and the three-weeks RSI is set at 41.71 for Callaway Golf Company [ELY]. The present Moving Average for the last 50 days of trading for this stock 29.98, while it was recorded at 29.15 for the last single week of trading, and 29.94 for the last 200 days.

Callaway Golf Company [ELY]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Callaway Golf Company [ELY] shares currently have an operating margin of +4.26 and a Gross Margin at +41.31. Callaway Golf Company’s Net Margin is presently recorded at -7.99.

Return on Total Capital for ELY is now 4.37, given the latest momentum, and Return on Invested Capital for the company is -8.90. Return on Equity for this stock declined to -17.59, with Return on Assets sitting at -6.44. When it comes to the capital structure of this company, Callaway Golf Company [ELY] has a Total Debt to Total Equity ratio set at 132.55. Additionally, ELY Total Debt to Total Capital is recorded at 57.00, with Total Debt to Total Assets ending up at 45.22. Long-Term Debt to Equity for the company is recorded at 122.70, with the Long-Term Debt to Total Capital now at 52.76.

Reflecting on the efficiency of the workforce at the company, Callaway Golf Company [ELY] managed to generate an average of -$30,222 per employee. Receivables Turnover for the company is 10.98 with a Total Asset Turnover recorded at a value of 0.81.Callaway Golf Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.60.

Callaway Golf Company [ELY]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ELY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Callaway Golf Company go to 30.90%.

An analysis of insider ownership at Callaway Golf Company [ELY]

There are presently around $3,997 million, or 78.70% of ELY stock, in the hands of institutional investors. The top three institutional holders of ELY stocks are: PROVIDENCE EQUITY PARTNERS L.L.C. with ownership of 28,775,226, which is approximately New of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 12,946,202 shares of the stock with an approximate value of $357.7 million in ELY stocks shares; and VANGUARD GROUP INC, currently with $306.04 million in ELY stock with ownership of nearly 38.559% of the company’s market capitalization.

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Positions in Callaway Golf Company stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 175 institutional holders increased their position in Callaway Golf Company [NYSE:ELY] by around 56,711,725 shares. Additionally, 140 investors decreased positions by around 14,354,578 shares, while 52 investors held positions by with 73,588,096 shares. The mentioned changes placed institutional holdings at 144,654,399 shares, according to the latest SEC report filing. ELY stock had 74 new institutional investments in for a total of 35,605,948 shares, while 38 institutional investors sold positions of 3,644,082 shares during the same period.



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