Truist Securities Reiterates Buy Rating on Callaway Golf
Truist Securities maintains its buy rating on Callaway Golf with a $19 price target.
Key Points
- Truist Securities reiterated its buy rating for Callaway Golf, setting a price target of $19 on June 15, 2026.
- Callaway Golf, trading at $17.38, has a market cap of $3.07 billion and a P/E ratio of 65.69.
- JP Morgan and Goldman Sachs hold ratings of hold with targets of $18 and $17 respectively, reflecting varied analyst perspectives.
Truist Securities has reiterated its buy rating on Callaway Golf Company (NYSE:CALY) as of June 15, 2026. The firm set a price target of $19, suggesting confidence in the company's future performance.
Other Institutional Activity in Callaway Golf
BlackRock, Inc. slightly reduced its stake in Callaway Golf by 120,298 shares, holding 20,282,570 shares valued at approximately $281.5 million. Radcliffe Capital Management, L.P. made a significant reduction of 62,910,000 shares, leaving it with 14,500,000 shares worth about $14.5 million. Providence Equity Partners L.L.C. cut its position by 10,000,000 shares, ending with 11,175,226 shares valued at $155.1 million. Meanwhile, JPMorgan Chase & Co added 827,250 shares, increasing its holdings to 11,124,512 shares valued at $40.2 million. Dimensional Fund Advisors LP also increased its stake by 253,230 shares, holding 9,466,465 shares worth $131.4 million.
Callaway Golf Company Stock Snapshot
Shares of Callaway Golf Company traded near $17.38. The company has a market cap of approximately $3.07 billion and a P/E ratio of 65.69, with a forward P/E of 21.85. Its beta stands at 0.969, indicating moderate volatility. The stock's 52-week range is between $7.84 and $18.00, with a 50-day moving average of $15.24 and a 200-day moving average of $12.68. Callaway maintains a current ratio of 2.28 and a quick ratio of 1.32, with a debt-to-equity ratio of 31.84.
Recent Earnings
Callaway Golf reported revenue of $2.12 billion with a growth rate of 9.2%. The company posted an EPS of $0.26, but it has a negative net margin of -15.03%, reflecting challenges in profitability. The return on equity stands at 2.21%. The next earnings report is expected on August 6, 2026.
Analysts Set New Price Targets
On June 15, 2026, Truist Securities maintained its buy rating on Callaway Golf with a $19 price target. JP Morgan maintained a hold rating with an $18 target on June 11, while Goldman Sachs assumed coverage with a hold rating and a $17 target on the same day. The consensus among analysts is a buy rating, with an average price target of $18.40 based on 10 analyst opinions.
About Callaway Golf Company
Callaway Golf Company, headquartered in Carlsbad, California, designs and sells golf equipment, apparel, and accessories worldwide. The company operates through two segments: Golf Equipment and Apparel, Gear, and Other. Known for its Callaway and Odyssey brands, it offers products ranging from golf clubs to lifestyle apparel. Callaway Golf was formerly known as Topgolf Callaway Brands Corp. and is led by CEO Mr. Oliver G. Brewer III.
Bottom Line
Truist Securities' reiteration of a buy rating and a $19 price target highlights continued confidence in Callaway Golf's prospects. With its diverse product line and strong market presence, Callaway remains a key player in the leisure industry. However, investors should remember that analyst ratings are based on past data and may not reflect current market conditions.
See Also
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