Why Callaway Golf (ELY) Stock Is Down Today

NEW YORK (TheStreet) -- Callaway Golf (ELY) was falling -6.7% to $7.80 Tuesday following the poor performance of the golf category at Dick's Sport Good (DKS) in the first quarter.

Same-store sales fell 10.4% at Golf Galaxy, Dick's Sporting Good's golf retailer, in the first quarter. The retailer expects the golf category to continue to struggle throughout the year. "After a very challenging first quarter in golf last year, we expected some further headwinds and only modest improvement, but instead we saw a continued significant decline," Dick's CEO Edward Stack said in a press release.

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TheStreet Ratings team rates CALLAWAY GOLF CO as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate CALLAWAY GOLF CO (ELY) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall."

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