Gilford Securities Upgrades Callaway Golf (ELY) to Buy, As Callaway Continues to Swing From the Rough
Tweet
Share
E-mailGet Alerts ELY Hot Sheet
Price: $21.33 --0%
Rating Summary:
15 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
15 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Join SI Premium – FREE
Gilford Securities upgraded shares of Callaway Golf (NYSE: ELY) to a Buy rating from its previous rating of Hold.
The firm believes that shares of Callaway have fallen far enough that they feel comfortable raising their valuation rating on the shares. The firm notes that they have been on the side lines for sometime now and that the price is finally right, "BOB."
With Q1 and Q2 both ending in disappointing results, Gilford Securities is not anticipating anything over "par" for Q3 and Q4, but actually expects the company to be in the rough.
With the stock only trading at around $0.13 above its tangible book value, the firm highlights how attractive it.
An analyst at Gilford Securities comments, "We always felt that ELY would trade into the $5’s, and now that we are here we want investors to be sure to know that when it does trade there, it’s a good opportunity to buy the stock...So anyone considering acquiring the stock based upon our recommendation needs to tell themselves that Q3 and Q4 will be very tough to look at."
For more ratings news on Callaway Golf click here and for the rating history of Callaway Golf click here.
Shares of Callaway Golf closed at $6.01 yesterday.
The firm believes that shares of Callaway have fallen far enough that they feel comfortable raising their valuation rating on the shares. The firm notes that they have been on the side lines for sometime now and that the price is finally right, "BOB."
With Q1 and Q2 both ending in disappointing results, Gilford Securities is not anticipating anything over "par" for Q3 and Q4, but actually expects the company to be in the rough.
With the stock only trading at around $0.13 above its tangible book value, the firm highlights how attractive it.
An analyst at Gilford Securities comments, "We always felt that ELY would trade into the $5’s, and now that we are here we want investors to be sure to know that when it does trade there, it’s a good opportunity to buy the stock...So anyone considering acquiring the stock based upon our recommendation needs to tell themselves that Q3 and Q4 will be very tough to look at."
For more ratings news on Callaway Golf click here and for the rating history of Callaway Golf click here.
Shares of Callaway Golf closed at $6.01 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- B.Riley Upgrades The Children's Place (PLCE) to Neutral
- Huber Research Upgrades Criteo S.A. (CRTO) to Overweight
- BofA Securities Upgrades Tesla (TSLA) to Buy on wind up of positive catalysts
Create E-mail Alert Related Categories
UpgradesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
